better hurry!

Diggity said:

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try the carnitas

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Candente Carnitas >>>>>>

I looked at this a few months ago. We love el tiempo and my heart wanted to do it but my brain said no. Way too much risk for me.

This is a classic case where I will gladly be a consumer and not an investor.

I love El T. But they should have plenty of cash for charging the prices they do and I willingly pay for some reason. Haha

I don't think ET is having cash flow issues with their current locations. This seems all about financing expansion.

In the investment pack for 2019 they were showing around 33% Gross Profit and 10% EBITDA. In 2019 they had gross revenue of $60 million and then dipped in 2020 and 2021 as COVID ravaged this great land of ours. They're projecting to get back to $60 million in gross revenue in 2022 with similar Gross Profit and EBITDA as 2019.

They have 13 total stores including the new one on Westheimer where The Palm used to be. I believe it's open now. Doesn't look like they have any franchise locations as I'm guessing they gave up on that model.

I think they're doing just fine but trying to figure out a way to raise capital for expansion. Doesn't sound like they're being as successful as they hoped based on the repeated emails.

I don't fault them for trying. Like someone said emotionally it's interesting but realistically it's not.

I'll just hold out hope they give us another chance to recharge the VIP cards for a 33% or 40% savings on every meal.

TX04Aggie said:

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I love El T. But they should have plenty of cash for charging the prices they do and I willingly pay for some reason. Haha

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I used to go there all the time, but one day noticed a bunch of the prices got pretty big for their britches. At least they trimmed down their menu. At one point it was more than 200 items.

Ryan the Temp said:

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TX04Aggie said:

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I love El T. But they should have plenty of cash for charging the prices they do and I willingly pay for some reason. Haha

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I used to go there all the time, but one day noticed a bunch of the prices got pretty big for their britches. At least they trimmed down their menu. At one point it was more than 200 items.

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Trimmed down?! It's still like 200 items. Agreed on the prices. Only time I really go anymore is if I remind myself to get the gift cards at Costco and go on Wednesdays. I'm not paying ~$60 for a 1lbs of beef fajitas that almost everyone else is selling for $35-40

CostCo gift cards get you 25% discount

Fair point.

All of their capital raising in the last few years has been unconventional. The VIP cards offering 33% and 40% discounts to this offering.

I don't know what good margins are in the restaurant industry but if ET is struggling over cash with their current restaurant number they don't need to think about expanding and trim costs somewhere.

Maybe the owners are just pissing it away on their lifestyle.

I used to like El Tiempo. Went to the Westheimer/Gessner location last May and I swore I wouldn't go back . Maybe it is the location but the food AND ritas were mediocre and way over priced for what it was.

BillYeoman said:

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I used to like El Tiempo. Went to the Westheimer/Gessner location last May and I swore I wouldn't go back . Maybe it is the location but the food AND ritas were mediocre and way over priced for what it was.

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Shrinkflation is a thing. Thanks Joe Biden.