KSBAR is Closing
- Thread starter Farsight Clone
- Start date
food quality there was never great, but definitely declined rapidly; and the menu revamp was just a marketing ploy to try to drive traffic and save OC. Sure they changed some things, but it definitely wasn’t to a better product; probably actually the other way in an attempt to reduce COGS. It’s impossible to save your way to prosperity in the food business. And that’s the situation they found themselves in. I mean, when your handing out stained and ripped paper menus, it’s over.
This plays a role, but more so, it’s just none of those guys are restaurant guys. Doesn’t work, ever, like that.
I’m seriously shocked it stayed open as long as it did. I knew when they closed up for the summer that it was toast. I can’t believe they reopened it. They needed that last football season I guess.
Another place that I’m shocked even opened in the first place.
It was developed by an investor from California. He is rarely ever here and has very little understanding of the Lexington market. He just liked the location being so close to Rupp. It won't survive the 2020's.
On game days it was generally packed. My wife and I went there once for lunch on a non-gameday a few years ago and there might have been 3-4 other customers there.
tough business,I went twice atmosphere was good,food average at best,game days were impossible to get in.
On the topic at hand, while it was a neat thing that KSR became so powerful locally that they were able to do this, they had to deal with covid, a bad economy the last several years, and the two driving forces behind UK sports not exactly thriving, all while being completely new to the situation of owning a restaurant. Heck, kudos for keeping it afloat this long.
KSBAR buys food from wholesale distributors. These companies pick up food from the Tyson's and Conagra's of the world, bring it to their distribution centers, and then deliver it to their customers (e.g., restaurants and schools).
Roughly 2% of the distributors' revenue is used to pay for diesel fuel for its trucks. Meaning if Sysco passed through the entire increase in fuel costs to KSBar, the cost driver for fuel on the food would go from 2% (when Diesel was at $4) to 3% (when diesel hit $6).
The bigger issue right now is that people are starting to eat at home more and more right now. In the 80's, like 30% of food budget was used on restaurants. In 2023 it hit 55%. Apparently it's gone down to like 50% due to various reasons. That's a pretty big dip. That means 10% less revenue across the industry.
Roughly 2% of the distributors' revenue is used to pay for diesel fuel for its trucks. Meaning if Sysco passed through the entire increase in fuel costs to KSBar, the cost driver for fuel on the food would go from 2% (when Diesel was at $4) to 3% (when diesel hit $6).
The bigger issue right now is that people are starting to eat at home more and more right now. In the 80's, like 30% of food budget was used on restaurants. In 2023 it hit 55%. Apparently it's gone down to like 50% due to various reasons. That's a pretty big dip. That means 10% less revenue across the industry.
The accounts here and it seems by Matt are that the bar thrived during basketball and football games. So, I doubt UK sports “not thriving” was the impact you suggest. I also doubt CoVID played any role. About half of all restaurants fail in five years. KSBar lasted longer than most.
Yes, and it's a ********. Whole place smells like old beer and piss. Food is horrific. Bar top and tables are always sticky, and so is the floor (my flops wouldn't stay on - it was like walking on a floor covered in adhesive). The wait staff and bartenders spend all their time on their phones or shooting the breeze.
If anyone here says anything otherwise, they are full of it or pals with MJ, or just have low standards for a sports bar in Lexington.
I never been. I just watched to go once to watch a game to be with other fans. I wouldn't be surprised lol
Well truthfully you aren't missing anything. I mean the staff was somewhat friendly, but I was stunned at the flat cheeseburger, cold fries, warm beer and the other things I already mentioned. The men's bathroom stall was half ripped off the wall - probably because when I was there Cal was coach and someone was likely pissed off and punched/kicked the stall wall!
I have zero idea why anyone of sound mind would open a restaurant
Funny.
I’ve never been in there. If I’m going to a club after a UK game it’s most likely The Melroy or the Camel Club.
Never seen MJ in there either.
MJ more of a Soundbar type guyFunny.
I’ve never been in there. If I’m going to a club after a UK game it’s most likely The Melroy or the Camel Club.
Never seen MJ in there either.
Spicy chicken sandwiches are the bees knees. Or at least used to be. Been a minute.
It’s not a club, it’s a sports bar. A MJ run club? Could you imagine?Funny.
I’ve never been in there. If I’m going to a club after a UK game it’s most likely The Melroy or the Camel Club.
Never seen MJ in there either.
Brother if they'd do it I'd have them fill up a kiddie pool with them fries
It would something like "The Bar Complex' if MJ was in charge
He has the house here in Louisville & just bought the house there where Bush Hamdan lived, wow, 2 houses & now his bar is closing.
I doubt he made much if anything running the bar. He’s apparently doing well financially regardless. Good for him I guess.
The younger crowd drinks a lot less than previous generations. The economy is in the crapper. Bad time to be in the restaurant/bar business. I hope the local restaurants in my area can hold on util better times but I'm afraid we are going to lose some of our local owned options.
Restaurant business is always tough.
I got in as an investor with Tumbleweeds very early. Like one restaurant early.
I sold out pretty much at their peak. By accident really. Part of a divorce settlement.
Turned out to be the best time to get out. But it was purely coincidental.
I’ve had several offers to invest in restaurants and bars since but I’ve stayed away.
I know a lot of people that have gone broke in the restaurant business.