The above phrase is one of the key takeaways in an article I read last week about one of my favorite restaurateurs, Danny Meyer. You might recognize his name as the founder of Shake Shack, which seems to be taking the country by storm these days, since its recent IPO. While that burger-joint has appeared in many movies (and made me stand in plenty of lines previously), his other restaurants (like Gramercy Tavern, Blue Smoke and Union Square Café) are some of my personal favorites. Danny’s restaurants regularly make the New York City “Best” lists, and it’s been my pleasure to meet this innovating former-Midwesterner (sort of like me, maybe?) several times, heard him speak on a couple occasions, and even get and read his book, Setting the Table: The Transforming Power of Hospitality in Business. He’s really quite the entrepreneur to admire – and in a very tough industry.
But why am I telling you all of this in a weekly e-newsletter about small business financing? Well, the NY Daily News described Danny’s admonishment to “Buy!” in their piece here: “Danny Meyer Really Wishes He’d Bought Union Square Café Real Estate.” He’s going to shut down the iconic Union Square Café soon because he couldn’t come to terms with his landlord and didn’t have the hindsight (or right financing?) to purchase it. This is a plight we hear regularly at Fountainhead, and it’s something we try to rectify daily. But don’t take our word for it, read the short article here. It’s well worth your 3 minutes. Go ahead, we’ll wait for you.
Thanks for coming back. 🙂 The bigger takeaway, at least for me and possibly you, is the quote in this email’s subject line. It’s a quote about risk-taking – something our audience here is rather familiar with: if entrepreneurs don’t take risks, new businesses don’t get started, employment falls, economies get hurt, and so on. As Danny says in the article, “The tendency is to play it safe. But safety may save the day. It never wins the day.” Personally, we at Fountainhead can relate to those sentiments. It’s a MAJOR reason why we do what we do, every day. We believe all healthy small and midsized businesses should be owners of their commercial real estate. And as the article says, “If you have the opportunity, you should buy, buy, buy your real estate.” We couldn’t agree more.
So to help us do even more and help some of America’s calculating risk-takers, let us know of anyone you know who’s looking to create wealth with commercial real estate ownership. We’re eager to help others forgo what Danny Meyer’s experiencing right now. And if you work for a bank, credit union, non-bank lender, or commercial mortgage banker/broker, please explore a profitable partnership with us soon at Fountainhead with our new secondary market program: FastTrack 504™.
Enjoy your weekend! Thanks for reading and reaching out. And if you’re in the Tri-State area, better make your reservation at Union Square Café real soon!
Chris and the Fountainhead Team
P.S. If you happen to be in San Antonio next Tuesday through Thursday, Steve, Rob and Chris will be there, too. They’ll be exhibiting at NAGGL (the National Association of Government Guaranteed Lenders). If you’re there (YOU know who you are), be sure to come by the new booth and visit. Might even get Rob and Steve in sombreros on Cinco de Mayo. 🙂
P.S.S. And a very happy early 504 Day! That’s what Chris has always called May 4th… or Quattro de Mayo!