Acquiring Minds How to Buy a Neighborhood Institution
Mar 2, 2023
01:01:17
Andrew Sieve saw his life implode after COVID. Buying a highly profitable 40-year-old restaurant turned things around.
Topics in Andrew’s interview:
- Andrew’s family history of owning and operating restaurants
- Why he prefers smaller restaurants
- The tragedies of 2020 that led to him exiting his family’s business
- Moving from Minneapolis to Colorado to start over
- How a chance meeting led to him buying a restaurant
- How they achieved a smooth transition
- What factors make restaurants difficult businesses
- The risks in acquiring an institutional legacy restaurant
- How he funded his acquisition through a community bank
- His vision for the next 5 years
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