Posts Tagged ‘economy’

Check, please! Bundle says Atlantans love their restaurants

Bundle's restaurant spending infographic

Ever wonder how that just-okayish restaurant in your neighborhood stays in business, or why optimistic entrepreneurs keep setting up shop in the same location that’s already chewed up and spit out five other diners, cafes, bistros and lounges in five years?

According to Bundle, a site that collects and analyzes spending data across the country, Atlantans did 57 percent (click the circles to see stats and maps) of their food and drink spending at restaurants last year on average – more than any other major city. The average for the U.S. is 37 percent.

That might explain the longevity of some lackluster establishments and restaurateurs’ willingness to keep rolling the dice around here. We’re going to eat somewhere, and for some of us, it’s often not at home.

The statistical breakdown makes it a bit clearer what’s going on. The first three merchants on the top-10 “Where They Spend” list for Atlanta are Starbucks, Chic-Fil-A and McDonald’s. So, it appears to be a matter of a lot of people spending a little money fairly frequently, rather than going out to $50 dinners twice a week. The most expensive establishments in the top-10 list – Cheesecake Factory, Longhorn Steakhouse and Outback Steakhouse – came in at fifth, seventh and ninth place, respectively. Waffle House was number 10.

There are some significant limitations on just how informative the data are, though, as they’re generated only from credit card transactions. The list might look quite a bit different if cash sales were factored in.

By the way, the Number 4 on the “Where They Spend” list is Trop, Inc.

Never heard of it? It’s the corporate name of The Pink Pony.

Renters’ Revenge

You know that new apartment building that went up in your neighborhood not long ago? The “luxury” one with the Wi-Fi, workout room and granite countertops? The one you pass and think “I’d really like to live there, but I bet the rent is insane”?

Even if you’ve checked online to see how much they’re charging, go in and ask what the rent is. Chances are it’s less than you think, and maybe less than you’re paying in an older, smaller place.

I’m finally about to start working again, which means the end of my stay OTP isn’t far off. So, clutching my folder of apartment profiles from Promove, I spent a couple of days last week looking at apartments in Midtown, Buckhead, Downtown and Inman Park. The prices I was quoted by the leasing staff were uniformly at least 29 percent less than what their Web sites or expensive-looking brochures listed.

Those “administrative fees,” “leasing fees” and $300 deposits that used to be so common? Mysteriously absent. Rent concessions abound and application fees are shrinking like a pair of H&M pants in a hot dryer.

Maybe this is old news to ya’ll. But I just spent three years right outside DC, looking forward to annual rent increases on a 521-square foot apartment in a complex that was built when Eisenhower was president. The four violent deaths within 100 yards of my door during that time did nothing to keep the rent from shooting (Ha!) past $900 by the time I moved out. Things really are different “inside the Beltway” I guess.

So, if your lease is about to expire, check out some places that look like they’re out of your price range. Prices will probably go up as the economy improves (whenever that’s going to happen), but in the meantime, enjoy that rooftop pool this summer.

Cut From The City?

Maybe you heard the piece on NPR on Wednesday about pay cuts at the High Museum of Art? Here’s my short recap: “Everyone at the museum’s getting a small, 5-7% pay cut, with the worst of it given to martyr the head of the museum. Oh, except for some people who are taking a 100% pay cut or something. Whatever.”

But I’ll admit that I’m just bitter. My wife was one of the people laid off from the museum on Monday. The story, though, will be that the High brass bravely took pay cuts. [This is where I cut some honest criticism for the sake of politeness.]

Here’s what the actual NPR piece sounded like:

“Five percent for the majority of the staff, six percent for the [department directors], and seven percent for myself.”

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