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Thread: Bart Hanson - how much did you lose investing in that JEWISH restaurant?

  1. #21
    Owner Dan Druff's Avatar
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    Funny how OpenTable charges $2 per reservation AND an annual fee.

    Figured it was something like that, because customers are basically getting $1 rakeback when they make an OpenTable reservation (you get a $20 meal credit after 20 reservations).

     
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    Quote Originally Posted by Dan Druff View Post
    Funny how OpenTable charges $2 per reservation AND an annual fee.

    Figured it was something like that, because customers are basically getting $1 rakeback when they make an OpenTable reservation (you get a $20 meal credit after 20 reservations).
    Would be curious to know the percentage of people that actually redeem and use th rewards though. Has to be low.

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    Quote Originally Posted by big dick View Post
    Quote Originally Posted by OSA View Post
    Restaurants are bad investments when you don't spend your entire time there. Only foolish people think that a restaurant can run profitably with a hands off approach.

    Greek Diners are a good example of this. Typically, the owner is at the front ready to greet anyone and to fix and more importantly prevent any problems from occuring. They and their spouse work long hours and thats the only way a restaurant can thrive. You cant let the employees run the business.
    Could be worse he coulda invested money into staking you to play poker
    I perform better in tournaments than you do with chicks in bed. Big dick? More like limp dick. AM I RITE?

     
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    Quote Originally Posted by Forum Wars View Post
    Quote Originally Posted by GambleBotsChafedPenis View Post

    great article, thanks for sharing...sums the whole business up perfectly...
    Yes, good article. 90% of the stuff in the article reminded me of stuff from The Sparten's pizza joint thread...especially this line:

    “You can make money in this business, but not if you’re honest.”
    Pizza brag post

    I might have single handedly saved sparten and I never got a kickback

    I need to tighten up my game

    Name:  B95A030E-106C-4A37-BFE5-552276D1E855.png
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    Imagine being a waiter at a Jewish restaurant. If you call out a customer for the non-existent tip, they will call you an anti-semite.

     
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      OSA: You and sparten should be friends

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    Quote Originally Posted by Dan Druff View Post

    Bart has admitted to being a degenerate, btw, so I don't think this is the first time he lost a large sum of money unrelated to poker.

    Actually I made a small amount of money off of Ditmas after my profit distributions and the sale back of my % interest to my partner. I was also totally out of Ditmas almost two years before it closed down (end of 2015). But Druff, you can just assume that I lost money, with no information. And just assume I am a degenerate too?

    Quote Originally Posted by Dan Druff View Post

    It's very tough to run a restaurant profitably. Looks like Bart's place had a lot of potential, but they must have screwed something up if it's no longer around.
    And like many other restaurants it didn't shut down due to lack of business. The landlord, upon expiration of the lease, tried to squeeze Alex for an additional 150% rent increase. At that rate it made no sense to remain open. Just because a restaurant closes does not mean that it was not successful. In fact sometimes restaurants become the victims of their own success if they add a lot of internal improvements to the building and make the surrounding area nicer.

    http://www.foodrepublic.com/2016/09/...just-the-rent/

    AS far as the polarizing yelp reviews go I will openly admit that I had no hand in the operations of the restaurant, nor did I want any. I was entirely passive. We got a very good deal when we bought out the previous restaurant and I thought it would be a good investment, even having no decision making power. It ended up being a huge headache which is why I ended up selling my interest and I would not recommend investing in a restaurant unless you were going to be an active participant in the operations.

    But its just so classic PFA to assume things that fit into someone's narrative without knowing any actual facts.

    Bart

     
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  7. #27
    How Could You? WillieMcFML's Avatar
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    Bart, in your experience, would you say running a restaurant at a loss is a thankless job?

     
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    Quote Originally Posted by BartHanson View Post
    Actually I made a small amount of money off of Ditmas after my profit distributions and the sale back of my % interest to my partner. I was also totally out of Ditmas almost two years before it closed down (end of 2015). But Druff, you can just assume that I lost money, with no information. And just assume I am a degenerate too?

    Quote Originally Posted by Dan Druff View Post

    It's very tough to run a restaurant profitably. Looks like Bart's place had a lot of potential, but they must have screwed something up if it's no longer around.
    It ended up being a huge headache which is why I ended up selling my interest and I would not recommend investing in a restaurant unless you were going to be an active participant in the operations.

    .

    Bart
    You do realize like 98% of the earth's population figures this out beforehand and decides against getting into the restaurant business with no experience.

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    Inaugural Spring Classic Champion HoodedN's Avatar
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    Bart Hanson has the world's greatest personality. Sike

  10. #30
    Owner Dan Druff's Avatar
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    Quote Originally Posted by BartHanson View Post
    Actually I made a small amount of money off of Ditmas after my profit distributions and the sale back of my % interest to my partner. I was also totally out of Ditmas almost two years before it closed down (end of 2015). But Druff, you can just assume that I lost money, with no information. And just assume I am a degenerate too?

    Quote Originally Posted by Dan Druff View Post

    It's very tough to run a restaurant profitably. Looks like Bart's place had a lot of potential, but they must have screwed something up if it's no longer around.
    And like many other restaurants it didn't shut down due to lack of business. The landlord, upon expiration of the lease, tried to squeeze Alex for an additional 150% rent increase. At that rate it made no sense to remain open. Just because a restaurant closes does not mean that it was not successful. In fact sometimes restaurants become the victims of their own success if they add a lot of internal improvements to the building and make the surrounding area nicer.

    http://www.foodrepublic.com/2016/09/...just-the-rent/

    AS far as the polarizing yelp reviews go I will openly admit that I had no hand in the operations of the restaurant, nor did I want any. I was entirely passive. We got a very good deal when we bought out the previous restaurant and I thought it would be a good investment, even having no decision making power. It ended up being a huge headache which is why I ended up selling my interest and I would not recommend investing in a restaurant unless you were going to be an active participant in the operations.

    But its just so classic PFA to assume things that fit into someone's narrative without knowing any actual facts.

    Bart
    I had recalled that you admitted to doing degenerate-type pit gaming. If I misunderstood, I apologize.

    It came up when IAmProfessionalTalk attacked you and claimed that you weren't a credible poker coach, and he cited you playing pit games as an example. I countered that the way you manage your money is irrelevant -- that the only requirement for a poker coach is that he teaches you poker well, and that CrushLivePoker indeed had a reputation for achieving that.

    I seem to recall having you on radio where you said you played pit games. That's where I got the "degenerate" idea. I wasn't trying to assume anything or say anything derogatory.

    Regarding the restaurant, I do believe your account of events, and in fact thought it was possible that you didn't have any control of the operations. I was perplexed as to why the service problems (at least the ones apparent from the reviews) were never fixed, but I understand that as a passive partner, there was little you could do.

    You mentioned that you sold your part because having little operational control was frustrating. Was the frustration due to the aforementioned service issues which weren't getting fixed?

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    Quote Originally Posted by Dan Druff View Post
    Quote Originally Posted by BartHanson View Post
    Actually I made a small amount of money off of Ditmas after my profit distributions and the sale back of my % interest to my partner. I was also totally out of Ditmas almost two years before it closed down (end of 2015). But Druff, you can just assume that I lost money, with no information. And just assume I am a degenerate too?



    And like many other restaurants it didn't shut down due to lack of business. The landlord, upon expiration of the lease, tried to squeeze Alex for an additional 150% rent increase. At that rate it made no sense to remain open. Just because a restaurant closes does not mean that it was not successful. In fact sometimes restaurants become the victims of their own success if they add a lot of internal improvements to the building and make the surrounding area nicer.

    http://www.foodrepublic.com/2016/09/...just-the-rent/

    AS far as the polarizing yelp reviews go I will openly admit that I had no hand in the operations of the restaurant, nor did I want any. I was entirely passive. We got a very good deal when we bought out the previous restaurant and I thought it would be a good investment, even having no decision making power. It ended up being a huge headache which is why I ended up selling my interest and I would not recommend investing in a restaurant unless you were going to be an active participant in the operations.

    But its just so classic PFA to assume things that fit into someone's narrative without knowing any actual facts.

    Bart
    I had recalled that you admitted to doing degenerate-type pit gaming. If I misunderstood, I apologize.

    It came up when IAmProfessionalTalk attacked you and claimed that you weren't a credible poker coach, and he cited you playing pit games as an example. I countered that the way you manage your money is irrelevant -- that the only requirement for a poker coach is that he teaches you poker well, and that CrushLivePoker indeed had a reputation for achieving that.

    I seem to recall having you on radio where you said you played pit games. That's where I got the "degenerate" idea. I wasn't trying to assume anything or say anything derogatory.

    Regarding the restaurant, I do believe your account of events, and in fact thought it was possible that you didn't have any control of the operations. I was perplexed as to why the service problems (at least the ones apparent from the reviews) were never fixed, but I understand that as a passive partner, there was little you could do.

    You mentioned that you sold your part because having little operational control was frustrating. Was the frustration due to the aforementioned service issues which weren't getting fixed?

    I love Jew Food . Makes sense though since I am Jewish . That will be all thanks

    Gookie

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    JFA
    http://pnimg.net/w/articles-attachments/1/4c2/74d75c36d2.jpg

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    Quote Originally Posted by Dan Druff View Post


    I had recalled that you admitted to doing degenerate-type pit gaming. If I misunderstood, I apologize.

    It came up when IAmProfessionalTalk attacked you and claimed that you weren't a credible poker coach, and he cited you playing pit games as an example. I countered that the way you manage your money is irrelevant -- that the only requirement for a poker coach is that he teaches you poker well, and that CrushLivePoker indeed had a reputation for achieving that.

    I seem to recall having you on radio where you said you played pit games. That's where I got the "degenerate" idea. I wasn't trying to assume anything or say anything derogatory.

    Regarding the restaurant, I do believe your account of events, and in fact thought it was possible that you didn't have any control of the operations. I was perplexed as to why the service problems (at least the ones apparent from the reviews) were never fixed, but I understand that as a passive partner, there was little you could do.

    You mentioned that you sold your part because having little operational control was frustrating. Was the frustration due to the aforementioned service issues which weren't getting fixed?
    Yes I have played pit games in the past and video poker with the goal of getting 7 Star so that I can cut the line in cash games at the WSOP. Overall I am certainly down and if that makes me a degenerate, so be it.

    I appreciate you defending me with regards to that being irrelevant when determining if I am a good poker coach or if CLP is a good training site.

    As far as why I sold my interest it was partially what you stated and other reasons that have to do with the business that I don't want to discuss on a public forum. But I do think it is a bit unfair to immediately come to the conclusion that I lost money because the restaurant closed down or that the restaurant was unsuccessful because it shut down.

     
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    Platinum devidee's Avatar
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    Who got the oven?

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    Quote Originally Posted by BartHanson View Post
    Quote Originally Posted by Dan Druff View Post


    I had recalled that you admitted to doing degenerate-type pit gaming. If I misunderstood, I apologize.

    It came up when IAmProfessionalTalk attacked you and claimed that you weren't a credible poker coach, and he cited you playing pit games as an example. I countered that the way you manage your money is irrelevant -- that the only requirement for a poker coach is that he teaches you poker well, and that CrushLivePoker indeed had a reputation for achieving that.

    I seem to recall having you on radio where you said you played pit games. That's where I got the "degenerate" idea. I wasn't trying to assume anything or say anything derogatory.

    Regarding the restaurant, I do believe your account of events, and in fact thought it was possible that you didn't have any control of the operations. I was perplexed as to why the service problems (at least the ones apparent from the reviews) were never fixed, but I understand that as a passive partner, there was little you could do.

    You mentioned that you sold your part because having little operational control was frustrating. Was the frustration due to the aforementioned service issues which weren't getting fixed?
    Yes I have played pit games in the past and video poker with the goal of getting 7 Star so that I can cut the line in cash games at the WSOP. Overall I am certainly down and if that makes me a degenerate, so be it.

    I appreciate you defending me with regards to that being irrelevant when determining if I am a good poker coach or if CLP is a good training site.

    As far as why I sold my interest it was partially what you stated and other reasons that have to do with the business that I don't want to discuss on a public forum. But I do think it is a bit unfair to immediately come to the conclusion that I lost money because the restaurant closed down or that the restaurant was unsuccessful because it shut down.

    tbf, yours was the exception rather than the rule.

    The VAST majority of restaurants close down because they lose money. So you can't really blame people for thinking otherwise.
    http://pnimg.net/w/articles-attachments/1/4c2/74d75c36d2.jpg

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    Quote Originally Posted by devidee View Post
    Who got the oven?
    THE JOOS

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    Quote Originally Posted by BartHanson View Post
    The landlord, upon expiration of the lease, tried to squeeze Alex for an additional 150% rent increase.
    150% rent increase? Chef Alex must be a dumb jew. He should have gotten a Jewish friendly lease with a long term option. But maybe he didn't care about those details because he had a sucker investor and just wanted to get the ball rolling.

  18. #38
    Plutonium Brittney Griner's Clit's Avatar
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    What the hell? Is that the real Bart Hanson posting? I mean it has to be but never in the history of this site have I seen a troll thread where the actual guy shows up to defend himself. Does this work for all celebrities now or just him?

     
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    Bart,

    Did the lease have an option to renew at "market rate"? Many commercial leases I have seen have a market rate provision in the option but I was never sure how something so seemingly arbitrary and vague as "market rate" was decided.

    Your old podcast before you started charging was probably the best free podcast on strategy - how anyone could have listened to it and somehow extrapolate that giving you a hard time is a good idea is beyond me. So many true villians in poker - the sociopath to normal person ratio has to be off the charts - pretty obvious you don't qualify for this.

    I'm part owner of a restaurant/bar for 6+ years and the notion of "auto-lose" is ridiculous. I know lots of bar owners who are successful but the path to victory isn't always clear. The number of Yelp reviews you had was extremely high for the time you were open - "losing your lease" was a lot better guess than going busto based on how long you were open and how many yelp reviews were posted. The place we own grosses 700k-1m a year and we dont have nearly that many published yelp reviews yet.

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    Good to see Bart here. LATB got me through the roughest period of my life when I was incredibly ill. Would fall asleep to it every night back in the mid 2000s. I believe I was the one who suggested Druff play the limit game on his first LATB man v food appearance. Was always a fan. Have been a CLP subscriber in the past, and to this day, hand to God, Bart is essentially a Xanax and ambien cocktail for me. I was so Ill and medicated through that period, to this day, if I’m struggling to sleep, Bart puts me out. It has to be some kind of serotonin trigger or something.

    You put me to sleep doesn’t come off as a ringing endorsement, but in this case, it really is. In addition to that, easily my favorite poker instructor. Might put me to sleep, but I’d wake up and would rewatch and listen every time back then. Sent him a PM years ago on 2+2 thanking him. Always hated the 175 BB deep SB+3 OOP reraise type coaching of that era. It just didn’t resonate with me and felt too rote. Always preferred his hand analysis and personal approach to the game style coaching. It’s possible that the former is better at helping one beat 100/200 online, but for me, I got nothing out of it. I was at least 30ish when LATB era started. All the online instructors seemed more geared to the young crowd. Bart was always really entertaining and more useful to me personally.

    Sorry to hear the business venture didn’t hit a grand slam, but good to see him around the poker world still. Wish the games locally for me were still large enough to justify the time expenditure to listen like I used to.

     
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