Labor of Love: Restaurants brace themselves for ‘09
Given the state of the economy, one of the most remarkable aspects of the 2008 Year in Food was how many brave folks decided to take the plunge and open a restaurant or some type of eatery. Still, the local restaurant world is bracing itself for 2009, which appears to be shaping up to be a rough one economically.
But as one local restaurateur pointed out this year, following the auctioning off of OXO on Water Street, which went for a mere $3,000 after the owners ran into some financial problems, starting a restaurant isn’t necessarily all about the Benjamins.
“Everybody thinks you get rich in the restaurant business, but you don’t,” said Hot Cake’s Keith Rosenfeld, who had hoped to score some catering equipment at the auction. “It’s often more a labor of love and a way to have a job that let’s you stay in Charlottesville.”
But Rosenfeld said it had become a tougher playing field.
“We used to have very few good restaurants,” he said. “… but now we have many, plus tons of chains. In my opinion, Charlottesville has been over-restauranted for some time, and I’m afraid we may see more of these auctions before the economy turns around.”
So far, there hasn’t been a rash of auctions, though Ponderosa’s equipment was auctioned off soon after Rosenfeld’s comments, but the economy hasn’t turned around yet either.
But enough of this gloomy talk! On to the Dish stories of the year… (more)