Thanks Mississippi Delta. I agree H3 has a very good Chief Legal officer. I think it's helpful that he lives not too far from other H3 corporate officers in the Miami area and SodaShop #002.
Regarding the concept, Delta do you realize Ben switched concepts on you last summer, a month or 2 after he came aboard H3? The first 2 stores have been Ben's concept, a bar and restaurant with video games. In other words, with the exception of the video games, it's a casual dining restaurant just like the Red Lobster, Olive Garden or Carrabbas down the street. That's a lot of competition to keep up with Delta. And potential customers have a lot of casual dining choices beside HipHopSodaShop.
Until Ben took over a little over a year ago, it wasn't supposed to be that way . Under Brian "H3" Peters original concept, video gaming was supposed to be the main profit center with a fast food menu supplementing the gaming as the secondary profit center. Ben didn't like that plan though, I think, so the St Petersburg store which was close to opening the way Brian "H3" Peters, the founder of H3, had envisioned got its interior gutted last summer because of a "change in plans" after Ben came aboard. The plans the City of St Petersburg had already approved in March, '07 and given H3 an adjustment to add more video gaming terminals in May '07 were put on the shelf by H3. The City gave H3 everything it wanted. But after Ben came on board it was decided to not follow those approved plans. A new designer was hired and a new set of "better" plans were drawn. I saw both sets of plans and the original plans had a '50s retro soda shop interior that would have been an alcohol free place for young people, the heavy video gamers. The new plans, I realize now, were to create a modern adult sports bar/casual dining atmosphere like so many other places down the street with the exception of some xBox video games. Brian Peters concept had no competition, all the kids would have flocked there because there really isn't too many places for kids to go in any community. The kids would have had a choice of HipHopSodaShop or nothing. And without booze the overhead would have been a lot less. But instead, Ben made HipHopSodaShop into what it is now. A bar and restaurant mainly for adults, with some video games on the side, instead of pool tables.
I'd like to see Brian "H3" Peters concept given a chance. So far its been given no chance. Since Brian "H3" Peters won a prize from BankAmerica in 2004 for having the best new business concept and Brian "H3" Peters was the founder of H3, I think his concept more than deserves a chance. The St Petersburg store was a few months away from opening and was gutted. The empty building is costing H3 about $150K per year because of the long term lease, still in effect, on the building. Because, Ben walked away from finishing that building. Wouldn't it make sense to do something with that building now that Ben is gone, rather than let it go to waste, like Ben was doing, while throwing away $150k/year, for the next 2 to 3 years? I think the place could be put back together again, cheaply following Brian "H3" Peters original concept and I think we'd all be amazed how the kids would flock to this place.
Now you know Delta, why I don't miss Ben, at all.
Any opinions expressed by flsunchaser are intended solely for the purpose of providing investors with a guideline. No investment idea is guaranteed to be right and all ideas are subject to high risk. Investors should do their own homework.
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