Might be worth it if you have a big group going for a birthday. Just party there and it's $500 off a 1500 tab

Wonder about the catering also. Company having a Christmas party seams like a no brainer. Have any extra let sales reps use it to take customers.

ATM9000 said:

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88jrt06 said:

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Around November, both Escalantes and El Tiempo have a long history of selling 80% cards. Thanks to those who underwrite them by leaving them in a sock drawer!
This could be better than that. But, business as usual, no desperate cash flow issue.....year end taxes.

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Not to dork out too much, but when they do this stuff, pretty sure they aren't booking 'losses'. It is cash in and assets and an offsetting liability. No good accountant is booking gift cards as revenue or expense until it is actually used. Pretty certain it has nothing to do with year end taxes.

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That's correct. As a nine year restaurant vet, it's all unearned revenue until it is redeemed. Unless you're cooking the books.

The place is packed every time you go in there and they have inflated prices at that. There is no way they are having cash problems unless there is someone at the top skimming profits.

Confirmed yesterday; CostCo has $100 GCs for $75 so you can get lots of tasty ~$6 margs.

I've gotten $100 GCs (as many as you want) every year in Nov-Dec for either $70, $75, or $80 from:
El Tiempo
Escalantes
Molina's

Pico's used to do it, don't know if they still do...

I'm well aware that restaurants sell gift cards for 20-25% pretty regularly.

Again...I thought it was strange that a restaurant that is routinely full during peak hours would offer 40% discounts. I realize that El Tiempo has higher margins than the average restaurant, but I'm not seeing the big upside for them unless they're trying to raise cash for something.

So speaking of the discounted gift cards, what is the expected rate of non-use? As in, it gets forgotten, lost, tossed, given to someone that just isn't in Houston very often, whatever? That number has to be pretty readily determined, no?

Diggity said:

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I'm well aware that restaurants sell gift cards for 20-25% pretty regularly.

Again...I thought it was strange that a restaurant that is routinely full during peak hours would offer 40% discounts. I realize that El Tiempo has higher margins than the average restaurant, but I'm not seeing the big upside for them unless they're trying to raise cash for something.

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The benefits never expire so they get you in at 60% for first $5000, but if you are spending that much then you likely cater there or go there for happy hour every day after work.

After $5,000 you are back up to paying full price, but you don't have to wait in line to do so.

I still don't see the logic of offering your most captive audience a 40% discount. They're already perfectly content paying full freight.

Unless they think these people will start to come in during their "slow" times during the week, there just isn't much benefit to El Tiempo.

So, if there was an hour wait on Saturday, and a discount was available on Monday...

ChiliBeans said:

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This board hates any local business that shows moderate success without relying on hipster mission statement nonsense.

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And??????

Is this for the Fast Pass Disney type folks.

Was working the hamburger booth at the church festival and some dude had to wait 30 seconds for his burger, and mentioned we should charge more for a VIP pass. So he could get it quicker. Yes his premade burger.

Diggity said:

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I'm well aware that restaurants sell gift cards for 20-25% pretty regularly.

Again...I thought it was strange that a restaurant that is routinely full during peak hours would offer 40% discounts. I realize that El Tiempo has higher margins than the average restaurant, but I'm not seeing the big upside for them unless they're trying to raise cash for something.

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El Tiempo has sold cards (and other promotions) the last quarter for 30% off since the year they opened. At the Richmond location about 5 years ago, I bought a $1000 "gold card" for $600. Also, maybe you should visit more locations if you believe that all ET's locations are "routinely full" daily during peak hours. I happen to know that's nowhere near the case for both the lower Westheimer and Navigation locations MANY days of the week. And yes, GCs are used heavily by folks who dine at non-peak hours, so that's also a major reason GCs are offered in general...
But as this thread indicates, you're "well-aware" of all this. OK.

Thanks as always for your incredible insight

Weak.

You should keep arguing w/everyone about your "theory". On your thread.
And poo-pooing facts as they are presented...

You ignored the part where I informed you that ET is hardly packed -peak or not- at several of their largest (e.g., Navigation) locations, so your theory about "always packed at peak" is simply wrong. Also, I noted that FIVE years ago, ET sold "gold cards" for a 40% discount. Those two indisputable facts are important clues about the title for your thread: "ET Having Cash Problems?". I think the fact that they've done it before and they DO have underutilized capacity they want to maximize...matters.

The "off-peak times" comment was generic to the GCs and the industry, obviously. (I said "in general", no?). BTW.

I think this is something mexican restaurants just do this time of year. Had one I used to go to that did the buy $100 get $25 free. I don't know if it is for christmas bonuses or what, but seems pretty common.

and that's a possibility too.

I've always been told that restaurants are a low-margin business, so it was surprising to me that a successful business would give a large discount for no apparent reason.

Not trying to raise anyone ire here by having a discussion.

is 1308 Cantina officially closed now?

Dunno but Cafe Adobe at Marque Center is gone now.

jetch17 said:

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is 1308 Cantina officially closed now?

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It's gone.

Yes. They have started tearing down the building

Yep, did a drive by and settled for westheimer for afternoon beveraging

jetch17 said:

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is 1308 Cantina officially closed now?

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jetch17 said:

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Yep, did a drive by and settled for westheimer for afternoon beveraging

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El Real down the street from the old 1308 goes pretty hard.

Be real, son

So what is going on the block where 1308 used to be? A big box of hipster dorms?