Quote:
Originally Posted by jeffk
The fact that the restaurant had been in foreclosure indicates that it wasn't performing all that well, nostalgia and good will included. The new owners probably got it for a pretty good price under the circumstances. Would people go to an out of the way location in Moultonborough for a regular, reasonable cost to build restaurant? I doubt it. To "recreate" a Woodshed would be prohibitively expensive and somewhat artificial. It's a really poor business risk to sink money into such a venture and the 4 who invested are not starry eyed fools.
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They got the Woodshed for a great price (somewhere just north of $500K), and from what I understand, insured it to cover that value. Given that the land did not burn down and it is valued around $75K, the owners would likely only have around $400K or so to build a restaurant, fit it out and fill it with food, wine, etc.
I don't see it working math-wise. Anyone that reads these threads knows that I was a very regular customer (and my teenage daughter worked there) at the Woodshed, so I write this with sadness.