Owners Holding Contest to Give Away Santa Barbara Restaurant

Posted March 6, 2014

In California, Los Angeles, Retail, Santa Monica

This is a very creative thing to do with your business if your kids aren’t interested in taking over.

A Santa Barbara restaurant named Pace, will be given away to the applicant who can convince owners’ Jeff and Kim Snyder that they can breathe new life into the two year old Pace Food + Drink located on State Street.

The plans were to have their two sons eventually take over the restaurant, but the sons had other plans so the owners will hold a contest for the restaurant with the winner announced on June 1st. Winners will receive all fixtures, trade name, liquor license, one year paid lease, $20,000 to cover some expenses plus mentoring from Jeff Synder who has 35 years in the business.

Serious applicants must pay $500 to enter the contest and submit a YouTube video explaining why they are the best fit to take over the restaurant. They also must submit a detailed proposal of potential plans. A group of ten finalists will be narrowed down to five by the Snyders and panel of food industry judges. The five finalist will travel to Santa Barbara for interviews, walk – through and a cooking session. The winner will be announced on June 1st.

http://la.eater.com/archives/2014/02/18/pace_owners_holding_contest_to_give_away_their_rest.php

Net Lease, Net Leased Retail

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