I've bought, sold, and bought again. The concept is great. We have Hard Rock cafe, house of blues clubs, All star cafe, Planet Hollywood so why not Country Star Restaurants?
I think the theme restaurant is a good one. Shy of Branson, Missouri; having a theme restaurant of country looks like a good idea.
The problem has been management. The old management was in a real hurry and I'm not sure their market feasability studies told them the whole story. They made many mistakes, the worse being poor initial locations. The Las Vegas location is questionable and the Atlanta location hasn't panned out at all. People who like country music are no different than any other americans. They like something they can call their own and there sure are alot of country music fans in America.
The fans will come, but can the management get some names to help sponsor it or at the very least get the memorabilia to add to the restaurants so folks have something to view when they go to the theme restaurant.
I don't really think the location in Vegas is all that bad. If they can become profitable there, then it can work. While it is off the main area where most hotels are, they do have a major hotel being built within a year or so. I hope it is a profitable location now and can hold while the new hotel is being built.
If these young executives can get the company's finances under control and implement a plan to open moderately sized restaurants, in upscale southern style areas and/or tourist areas like Disney World that attract country music fans, we might have something worth buying or holding onto.
I am with you. Moderately sized and in tourist locations. Buckhead area of Georgia is not that type of community. They need to settle what ever is necessary or lower their expectations for the Atlanta location. Why there is not one in Branson is beyond me. To me, it would seem like the first locations would be Branson or Nashville. Place the restaurant where the people who would enjoy this type of restaraunt theme where they would visit.
I hope they change their minds about the reverse split.
Well Hector, I don't think they will. Without the split, they would be ard pressed for investors to pick up on the stock. Not too many investors who will invest heavily will go into penny stocks in this range. They need to pick up the price of the shares. It looks like the plan is to reverse split to bring the share price up and then get approval for 250 million more shares so they can get those into the market and raise the cash.
I was just thinking. Remember now, I am not a country fan nor do I know too much about it, but I do know there are lots of fans; but I think a good location would be real close to wherever they tape the shows Crook & Chase and the show with the big puppet; Ralph Emory?. By putting a restaurant where they tape these shows, they could pay for advertising on billboards near there to get people to come to the restaurant. They could also do something like give away free passes for dinner for 4 and have these shows give them out as gifts when they do audience participation type events. Just thoughts. |
