Quote:
Originally Posted by N2I.F.
I know this is a forum about building and changes in the Mountain West. My comment though is a little different.
I have to support the owner of the Idaho Falls Sonic for making a tough decision two days ok. He didn't own the ground where the Idaho Falls location is at the corner of Pancheri and Yellowstone. When he was informed his rent had been increased, he closed his restaurant on Friday.
He owns almost 30 Sonic Drive Inn Restaurants in UT and ID, so all employees will be transitioned to other restaurants while he builds a new restaurant either in Idaho Falls or Rigby. I'd personally like to see a more westside location or a location closer to University Blvd and the university area.
The main point for me though, is I support him closing the restaurant instead of auotmatically paying what an investor in CA was demanding for the lease price. Those who lease property have a tendency to increase the prices every year, regardless of what has happened on the economic scene. ![Cuckoo](images/smilies/koko.gif) Now, the land owner from CA will have his land to do what he wants with and perhaps he has a different tenant who wants that prime location, I don't know. It is good for me to see others saying "No" or "Enough" to landlords who constantly raise prices, regardless of what our bottom lines are. ![Thumbs up](images/smilies/tup.gif)
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I posted the above as I"m really tired of small business owners getting "screwed" by someone who wants to make more. This story has what I believe many consider a surprise ending.
From KIFI Channel 8:
"Print Text Size
"Closed Sonic Restaurant to Re-Open"
"
" IDAHO FALLS - Just one week after announcing its abrupt closure, the Sonic Drive-In at 17th Street and Pancheri in Idaho Falls is announcing it will re-open on November 6."
"After its sudden closure on October 23, owner, Dave Hall tells Local News 8 he met with the California-based landowner on Monday to finalize the exchange of property."
"Hall says the owner realized he made a mistake in raising the rent, and agreed to lower the rent fee."
The rest of the story is at this link:
www.localnews8.com/global/story.asp?s=11420637
I'm posting this story not because I need Sonic for every meal or even once a week. It's about the principles involved.
An out-of-state automatically raises prices without reviewing with his tenant what the tenant can pay and make a profit, after paying his expenses, including employee wages. This owner said NO DEAL! He'd build a restaurant elsewhere. Makes you wonder what more of the out-of-state owners and hands off owners would do if more people said "NO" to lease prices raising?
![Cheers](images/smilies/cheers.gif)
After all, did the property owner improve the land or did Mr. Hall, who owns Sonic? Which one of the two is adding to the community and the overall value of the adjacenet, commercial land?
It's not hard for me to understand how Mr. Hall felt!
![Yuck](images/smilies/yuck.gif)
And why he'd had enough of rising prices, especially when the owner hasn't exactly located any other businesses near him. Asking for more money when adjacent land is empty?
To his credit, it sounds like the CA land owner got his head out of the sand and started to think how much revenue he would be losing monthly as he had to recuit a new business to utilize the previously built building.
I was happy to read the landlord LOWERED the rest and Mr. Hall will re-open again for busines on Nov. 6th.
Sometimes, the actions of one person can encourage/inspire others to do the right thing as well.