Not being a smart ass here, but are you in the restaurant business now? You have said a lot of things that combined together give me great concern for you opening a restaurant.
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One thing i can say is I if i buy the place it will have up to 50 different beers on tap.
Having "50 different beers on tap" sounds good, but remember that a keg has a realtively short shelf-life, especially a lot of the specialty beers. I would recommend easing into this with 5-10 beers on tap, and if you get real popular gradually increasing that number.
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The place still has all the old dixie chicken style tables and a bunch of pool tables, but i think that there are already to many places like this around town so why rehash the same idea over and over.
Changing the interior of a restaurant is very expensive, and you really don't want to incur that cost at the beginning.
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I am currently pondering Buying the old Alfred T. Hornbacks building.
Why in the world would you buy it? I highly recommend a lease (3 years max) and then see if you like the location. Buying the building you are going to have to put 20% down, minimum, and that is money you don't have to invest in the new business that you will need (food, staff, etc.). Do not buy a building for a restaurant until at least 3 years down the road, so you know the location is right for you and you can afford it. I recommend not ever buying it if possible.
If you are honestly thinking about opening a restaurant then I hope you are currently managing one. If not, go start managing one first so you know what to expect. Even if you plan on hiring a manager you need to understand the business or your new manager will rob you blind.
Just my .02 cents. The restaurant business is very tough, and inexperienced newbies ofter get trampled.