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Author Topic: Another Conneaut Lake Restaurant closes down  (Read 9404 times)

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E-L Man

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Re: Another Conneaut Lake Restaurant closes down
« Reply #15 on: April 08, 2011, 12:18:02 PM »
At Wendys, they offer a half salad ( 5 choices) and 1 of 5 different go-alons very reasonably priced and I would say also heathy choices. I get a half salad, baked potato and water. No charge for water. Very good!   ;)
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stablepitandpub

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Re: Another Conneaut Lake Restaurant closes down
« Reply #16 on: April 08, 2011, 12:27:07 PM »
Y
KFC revolked the franchise rights for 10 KFCs that Morgan Foods owned, including the one in CL. The reason was that the franchisee did not remodel the restaurants as required by the parent company.

Art Cocolin's KFC in Meadville was so much better than the one in CL. Art's was way less greasey. Very big difference.

Lock, you just taught me something.  I really thought that Art owned the
C.L. location.  Did he at one time?  P.S. Welcome home.  Why in the world didn't you bring some Florida sunshine back with you.  You probably remember when that was an ice cream stand owned by Wellington and Ruth Smith.  I got my first taste of restaurant business from them.  If memory serves me correctly, I think that the C.L KFC
just added on to the ice cream stand building.  Gore, do you remember
any of that, as you probably spent many of your younger days in our
area.
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Jayhawk

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Re: Another Conneaut Lake Restaurant closes down
« Reply #17 on: April 08, 2011, 01:05:51 PM »
….sort of sounding  like ‘the boaters on Conneaut lake’ as well as the other areas were none too impressed either with the Colonel’s lack of comforting, ergo the company’s decision to not invest in remodeling the stores as contractually required
If you read the SEC filings for franchisee Morgan Foods, it sounds like it had nothing to do with individual towns or restaurants and everything to do with not having the cash flow or ability to get loans to remodel 10 restaurants out of their 80 or 90 restaurants all at once. Several of them were due to be finished a year ago.
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stablepitandpub

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Re: Another Conneaut Lake Restaurant closes down
« Reply #18 on: April 08, 2011, 01:54:38 PM »
….sort of sounding  like ‘the boaters on Conneaut lake’ as well as the other areas were none too impressed either with the Colonel’s lack of comforting, ergo the company’s decision to not invest in remodeling the stores as contractually required
If you read the SEC filings for franchisee Morgan Foods, it sounds like it had nothing to do with individual towns or restaurants and everything to do with not having the cash flow or ability to get loans to remodel 10 restaurants out of their 80 or 90 restaurants all at once. Several of them were due to be finished a year ago.

Another great piece of info that I did not know regarding the SEC and
Morgan Foods.  I do think you are correct with cash flow / loans, as this
past winter had to be one of the hardest in history for most all restaurants.  It just breaks my heart that whomever invested the money
to run the C.L. operation is now S.O.L.   
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CindyLouWho

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Re: Another Conneaut Lake Restaurant closes down
« Reply #19 on: April 09, 2011, 02:45:27 PM »
KFC is gross.  I hope someone can put something decent in its place.
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lifefeedsonlife

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Re: Another Conneaut Lake Restaurant closes down
« Reply #20 on: April 09, 2011, 03:40:37 PM »
There's a billboard on Rt. 19 S on the way to Meadville from Saegertown for the Erie Business College touting an EBC graduate who now has a career managing a KFC restaurant . . . perhaps they should re-think their marketing strategy.

Thanks for the input and research Jayhawk . . . way better than rumor, supposition and innuendo . . . .
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stablepitandpub

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Re: Another Conneaut Lake Restaurant closes down
« Reply #21 on: April 09, 2011, 04:51:55 PM »
There's a billboard on Rt. 19 S on the way to Meadville from Saegertown for the Erie Business College touting an EBC graduate who now has a career managing a KFC restaurant . . . perhaps they should re-think their marketing strategy.

Thanks for the input and research Jayhawk . . . way better than rumor, supposition and innuendo . . . .

There is a situation in the boro that almost discourages any big businesses from locating within the boro.  I just found out when I spoke
to the entities that you have to go through, that there HAS to be one parking space for each four customers that your business draws.  KFC
can only park enough cars for 44 inside customers.  Aside from Hollywood Video, you don't see any businesses open at nite (unless there is a viewing at the Dickson funeral home) until you get to
Pizza Hut, Rite Aide, and Sheetz.  I bet almost everyone will be suprised
to learn who owns the big grassy field across the street behind the C.L.
Post Office.  It has blue recycling bins sitting on this parcel of land, but it
is owned by Station 3, which sits 5 blocks from that location.  Even if
someone bought the old Dairy Mart, tore it down to build a nice restaurant, the town is still "dry", and the size of the building you would
need to make enough money to pay your expenses would eliminate the
parking spaces that are also required to conform to boro laws. 
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E-L Man

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Re: Another Conneaut Lake Restaurant closes down
« Reply #22 on: April 09, 2011, 06:46:33 PM »
I just talked to a KFC employee. She said that the KFC made some pretty good money in CL but the franchise owners refused to remodel the place so they closed it down.  ??? ::) 
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jimmyt

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Re: Another Conneaut Lake Restaurant closes down
« Reply #23 on: April 09, 2011, 07:30:25 PM »
I just talked to a KFC employee. She said that the KFC made some pretty good money in CL but the franchise owners refused to remodel the place so they closed it down.  ??? ::)

even in the winter, they always had business...one of the few KFC to offer a buffet...sad to see it go....you may also be surprised to know that KFC used to lease that lot from the boro vfd before the vfd sold it to them....
« Last Edit: April 10, 2011, 07:50:33 AM by jimmyt »
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NightmarePatrol

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Re: Another Conneaut Lake Restaurant closes down
« Reply #24 on: April 09, 2011, 07:30:51 PM »
I spoke with my father who had spoke with the owner of the KFC in Meadville (Art) and it is a requirement or KFC franchises to remodel their places every ten years. Evidently they refused or were unable. I believe most franchises have similar clauses in their contracts.
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E-L Man

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Re: Another Conneaut Lake Restaurant closes down
« Reply #25 on: April 09, 2011, 11:10:14 PM »
She said they were required to remodel 12 stores but refused to do so.
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Jayhawk

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Re: Another Conneaut Lake Restaurant closes down
« Reply #26 on: April 10, 2011, 02:45:53 AM »
She said they were required to remodel 12 stores but refused to do so.
If you look at public filings on their financials, it's more that they were unable to do so, not refused to do so.

One could also make the argument that, even if it is required by the franchise agreement, it's a piss-poor return on investment and use of precious cash flow when just remodeling a couple outlets would consume a full year's profits for the entire 80-something franchise restaurants that Morgan runs.
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gore range

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Re: Another Conneaut Lake Restaurant closes down
« Reply #27 on: April 10, 2011, 03:33:24 AM »
....we're sort of getting the impression that not everybody thinks investing in remodeling outlets is a piss-poor return on precious cash flow.... ;)

....I have 3 McD's with in 2 miles of the bunker here, and they didn't bother to remodel-

....they, as many McD's are doing,  scraped the lot bare and re-built new (estimated @ 3-4 years annual sales as opposed to just 1 year's annual sales to remodel the existing building) ....

....the price of McD's stock has almost doubled in the 5 years since they have  implemented the new 're-imaged' facilities....
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jimmyt

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Re: Another Conneaut Lake Restaurant closes down
« Reply #28 on: April 10, 2011, 07:53:29 AM »
....we're sort of getting the impression that not everybody thinks investing in remodeling outlets is a piss-poor return on precious cash flow.... ;)

....I have 3 McD's with in 2 miles of the bunker here, and they didn't bother to remodel-

....they, as many McD's are doing,  scraped the lot bare and re-built new (estimated @ 3-4 years annual sales as opposed to just 1 year's annual sales to remodel the existing building) ....

....the price of McD's stock has almost doubled in the 5 years since they have  implemented the new 're-imaged' facilities....


 
the Mickey Dee near where I work in Erie moved across the street, just so they could get the breakfast business from people heading into Erie....trouble is now they realize they lost some lunch business so they bought another lot behind them to cut in a new entrance driveway so people won't have to cross busy W 26th st...
 
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NightmarePatrol

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Re: Another Conneaut Lake Restaurant closes down
« Reply #29 on: April 10, 2011, 08:15:49 AM »
Most of the McDonalds these days are corporate owned. They started a buy back program decades ago. I'm sure the reason was for uniformity and control of how all things McDonalds were handled. The one around the corner from us just got remodeled. All earthtones and very tasteful exterior trimmings. Too bad they're still serving up the same stuff.

If El Pollo Loco (Zip knows about them)  operated on the east coast I would be inclined to look at mortgaging the farm on that. I don't know what Conneaut Lake would accept though. What do the people want? The tourists just need a place that they'll eat at that's appealing. The year round residents would float the place but the tourists are the real gravy.
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