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Schlotzsky's, Inc. (BUNZQ) Message Board

  • go_go_bunz go_go_bunz Aug 21, 1999 9:32 AM Flag

    I don't care what Scammy says

     

    I love the food and the store is always busy at
    lunch. Everyone I speak to raves about the food, and in
    the end that's what matters. PERIOD! Scammy, I don't
    know what your problem is or why you keep attacking
    the management. Go and find some other poor company
    to attack with your lies! Everytime you show up with
    your bullshit we lose at least a buck of our share
    price. I for one am sick of it. I'm going to write to
    yahoo, asking them to boot your sorry arse off this
    board.

    This topic is deleted.
    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Deja vu all over again.

      Six (6) ticks and you can relate!

    • Wow!, I just read the san_antonio_investor book.
      This is great. Thanks for the great work. While I
      don�t understand much of what you said, the remainder
      makes sense to me. Despite the devastating blow many of
      us have taken, I remain optimistic. Some of you may
      choose to replace optimistic with naive.

      I
      assure you guys; the stores here in Austin Texas are
      great in everyway. They are doing a lot of business. I
      believe the old stores had to be torn down based on their
      appearance alone.

    • You said, "You have to read the financial reports
      and 10Qs to understand what they are or are not
      doing". You are probably right because I have been very
      wrong so far. Unfortunately, I don't know where to get
      this type of information. Thanks to BUNZ I'm in the
      hole. I feel alone being the only one not knowing what
      BUNZ is doing wrong. The restaurants here in Austin
      Texas are great and fill a nice nitch in the area food
      chain. The physical appearances and the stock market do
      not coincide in my opinion. Of course, my opinion is
      losing a lot of money.

    • This space is probably controlled personally by
      the little dictator and he generously marks up that
      lease to the Company, in the same fashion as the
      Company marks up the cost for "overhead recapture" with
      the Turnkey store program to the Z's.

      Cool
      huh?

    • It was interesting to see the tax records don't
      show Wooley as an owner of the HQ property. Corporate
      still pays a company owned by the Wooleys about
      $410,729 a year for the lease according to the 1998
      10K:

      "In March 1997, the Company entered into a lease with
      a limited liability company owned by John C. Wooley
      and Jeffrey J. Wooley for a new corporate
      headquarters facility in Austin. This lease will expire in
      2007. The facility consists of approximately 41,000
      square feet of office and storage space. The Company
      moved to this new facility in November 1997. The former
      corporate headquarters facility, consisting of
      approximately 11,000 square feet of office space in Austin, was
      sold by the Company in December 1997. See
      "Management's Discussion and Analysis of Financial Condition
      and Results of Operations -- Results of Operations."
      "

      "The Company and Third & Colorado 19, L.L.C. ("T&C
      19"), a limited liability company owned by two
      stockholders of the Company, entered into a lease agreement
      effective March 21, 1997, under which the Company leases
      from T&C 19 approximately 29,410 square feet of office
      space and 11,948 square feet of storage space, in
      Austin, Texas for the Company's corporate headquarters.
      Under the terms of the lease, the Company pays annual
      net rental of $12.95 per square foot for the office
      space and up to $2.50 per square foot for the storage
      space for a term of 10 years beginning November 1997. "

    • Pygmon- re your comment "Last dollar estimate for
      lot to build 3200 sq, ft. prototype was estimated to
      be
      600k. Inc. is pushing prototype as the way to go,
      but breakeven point before debt sevice requires
      sales
      of @18k /week". Do you mean that for the $1.5M
      stores,assuming you had no debt and invested $1.5M in cash,
      breakeven sales would be about 18K a week? And therefore,
      your breakeven sales figure would have to go up as you
      added debt related to equipment, build-out, real
      estate, etc.? Also, would this be breakeven excluding
      depreciation/amortization? Thanks.

    • Lets celebrate, Bunz share holders are
      in the chips.

      Maybe this move will get Bunz share holders out of the grease.

    • you will not find that in any sec filings, but in
      the uniform franchise circular (UFC) that Inc. has to
      give prospective franchises before contract is signed.
      many diclaimers go along with their pro forma
      statement and the are oprhibited from making sales, profit,
      and expense claims. Every situation is different and
      real estate values differ greatly in different
      markets. The good economy has pushed up land values for
      AAA sites. Last dollar estimate for lot to build 3200
      sq, ft. prototype was estimated to be 600k. Inc. is
      pushing prototype as the way to go, but breakeven point
      before debt sevice requires sales of @18k /week.This can
      be done; and is in many markets ...but is a very
      daunting task to run this high volume operation with a new
      franchisee with no restaurant experience....would you be
      willing to take the risk to sign the dotted line on such
      a large loan?? hence the franchise sales slow
      down.also ngg thanks for directing me to this board from
      motley fool.

    • <Our unemployment rate is also very low (under
      2% in my immediate area, probably somewhat higher in
      outlying areas of the state), so costs of reliable help
      and a low turn-over rate certainly suggest higher
      labor costs.>

      Error, Will Robinson, error.
      Make that:

      "MAINTAINING reliable help and a low
      turn-over rate certainly suggest higher labor
      costs"

      Oops! ;'}

    • <I feel the reason that there are no stores in
      the northeast is because of the high price of real
      estate. the lease expense at nyc was 13k per month when
      it opened(alot more than a prototype). labor dollars
      in the northeast are also much higher
      too.>

      Interesting, Pygmon. The same kind of thing is going on in our
      area (MI). Growth of the chain has been limited by the
      high cost of real estate in the rapidly-growing areas,
      like Oakland Co. They'd love to put more stores in
      that area, but the cost of real estate is prohibitive.
      Our unemployment rate is also very low (under 2% in
      my immediate area, probably somewhat higher in
      outlying areas of the state), so costs of reliable help
      and a low turn-over rate certainly suggest higher
      labor costs.

      Assuming that is the case in the
      rapidly developing areas of the country - which others
      have suggested have the upwardly-mobile demographic
      profile that would make the chain more successful - how
      much do you think the cost of real estate is affecting
      start-ups and the Turkney Program (or what's left of it)?
      Where in the 10Q/10K can I find this information?
      Doggy? Marie? Azdan? Will appreciate your
      insights.

      Thanks in advance,

      NGG

      My local franchisee
      just opened a second store, on the campus of one of
      our community colleges. Haven't seen much of him
      recently, since he's been busy with the new store launch,
      but from what the manager of my store tells me, he's
      been busy. He has, BTW, found some good, reliable
      people to keep the first store going in the interim. I
      check regularly. ;')

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