Biz First interviews Lynn for story on Lynn's

[Robin Garr]

I'm not sure I see a lot here that wasn't in the recent CJ article that resurrected the Lynn's story, and like that article, this one appears to rest on Lynn as the solitary source. Anyway, for what it's worth ...

Buyers interested in Lynn’s Paradise, but no deal yet
Caitlin Bowling, Reporter
Business First
Dec 27, 2013

Lynn Winter would list selling a business as one of her least favorite things to do, mostly because it takes too long.

“I am used to 12-minute ticket times,” said Winter, owner of the well-loved Lynn’s Paradise Cafe on Barret Avenue.

The restaurant closed nearly a year ago and has undergone $400,000 in renovations, such as adding epoxy to the floors and repainting the walls, while it has remained on the market.

“It has never looked better,” Winter said.

Winter hopes that it will soon be sold, and she said she is in talks with four potential buyers.

For the full story, see Business First online,
http://www.bizjournals.com/louisville/n ... 2013-12-27

[Robin Garr]

I can't help noticing ...

$400,000 in renovations, such as adding epoxy to the floors and repainting the walls

Maybe it's just me, but that seems like one expensive paint job.

I can't help noticing ...

$400,000 in renovations, such as adding epoxy to the floors and repainting the walls

Maybe it's just me, but that seems like one expensive paint job.

Right? Maybe she used the same contractors that built the Affordable Care Website.

So hard to believe anything coming out of that camp.

I can't help noticing ...

$400,000 in renovations, such as adding epoxy to the floors and repainting the walls

Maybe it's just me, but that seems like one expensive paint job.

Right? Maybe she used the same contractors that built the Affordable Care Website.

So hard to believe anything coming out of that camp.

Or have the same politicians who convinced of the YUM center was a great idea and would pay for itself contract the work for her! By the way in case you haven't read it yet, S&P downgraded the bonds for the YUM center again today.

I can't help noticing ...

$400,000 in renovations, such as adding epoxy to the floors and repainting the walls

Maybe it's just me, but that seems like one expensive paint job.

Sounds to me a case of throwing good money after bad.

The restaurant closed nearly a year ago and has undergone $400,000 in renovations

Let's hope these improvements spread to other areas...

She's going to hold on to it and continue to hold the price high above market value until a year from now she finally sells or leases the property (sans any money for the "business") as the offers she receives continue to get lower and lower. It will take time but it will finally sink in.

Small business owners just dont realize that the business they started and spent years, blood and tears nurturing isnt worth spit. If they own the property its own? Then its worth the real estate but thats about it. You might get some money out of any hardware or equipment but thats iffy.

Small business owners just dont realize that the business they started and spent years, blood and tears nurturing isnt worth spit..

Bingo.

Small business owners just dont realize that the business they started and spent years, blood and tears nurturing isnt worth spit..

Bingo.

Don't really agree with this assessment. I suppose it depends on the business.

[Robin Garr]

Don't really agree with this assessment. I suppose it depends on the business.

Bringing nuance to a forum discussion? Now, there's a new wrinkle!

[Robin Garr]

The Voice-Tribune reported a similar story this week, interviewing Patty Schnatter in lieu of Lynn:

Could the Doors Be Opening Soon at Lynn’s Paradise Cafe?
By CLAUDIA COFFEY
Your Voice Contributor

It will be a year in January since Lynn’s Paradise Cafe abruptly closed its doors. It’s been for sale ever since. There are some serious offers on the table that could mean a deal to buy Lynn’s could be done by the end of 2013.

Inside Lynn’s Paradise Cafe, everything is in place. A new owner could just walk in and open up shop.

“We are hoping to be finished by the end of the year. We don’t know if that will happen or not, but we have several interested parties and it’s all looking good,” said Patty Schnatter, the spokesperson for Lynn’s Paradise Café.

She took me inside Lynn’s last week to talk about the possibilities. If it sells, Lynn would like the new owner to keep the quirky brand for which it’s known. It was just months ago we were told a deal was almost done, but this time they say it’s different.

“There are some very serious things right now,” Schnatter said. “I am not at liberty to discuss those for obvious reasons. But there are some things going on that look more promising.”

Click for the full story:
http://www.voice-tribune.com/news/your- ... dise-cafe/

Small business owners just dont realize that the business they started and spent years, blood and tears nurturing isnt worth spit..

Bingo.

Don't really agree with this assessment. I suppose it depends on the business.

Adam,

Were I looking to buy an existing small business I would not put one ounce of emphasis on the previous owners profitability or community cache. When they hand you the keys it's a whole new ball game and previous clientele, no matter how loyal, should not be factored in to the selling price. Lynn's joint is worth what the real estate market says it's worth and nothing more. She (or anyone else for that matter) can price the place at whatever she/they want to but if a buyer is only willing to pay half of that...then that's what the place is worth. Then again there is a fool born every minute, so who knows....maybe she'll hook a sucker.

Adam,

Were I looking to buy an existing small business I would not put one ounce of emphasis on the previous owners profitability or community cache. When they hand you the keys it's a whole new ball game and previous clientele, no matter how loyal, should not be factored in to the selling price. Lynn's joint is worth what the real estate market says it's worth and nothing more. She (or anyone else for that matter) can price the place at whatever she/they want to but if a buyer is only willing to pay half of that...then that's what the place is worth. Then again there is a fool born every minute, so who knows....maybe she'll hook a sucker.

True. I am thinking of a different type of business. All good!

Ok so end of 2013 has come and gone!

I swear, how do they get so many articles about nothing generated???

Adam,

Were I looking to buy an existing small business I would not put one ounce of emphasis on the previous owners profitability or community cache. When they hand you the keys it's a whole new ball game and previous clientele, no matter how loyal, should not be factored in to the selling price. Lynn's joint is worth what the real estate market says it's worth and nothing more. She (or anyone else for that matter) can price the place at whatever she/they want to but if a buyer is only willing to pay half of that...then that's what the place is worth. Then again there is a fool born every minute, so who knows....maybe she'll hook a sucker.

If i were buying (another) business, i would pay more for the established location and theme than a new startup with a new theme. Traditionally, a turnkey business is more valuable than one requiring significant renovations and maintenance.

But in this case, I agree with you. Every minute (Lynns) Paradise Cafe is closed, it is losing value. It is no longer a turnkey.