After 7 years working to build an established, recognized, and successful business, Cheryl is moving ahead to take on new adventures and challenges.
In order to do that, she has chosen to sell Pix Patisserie. It is her hope to find an individual that is passionate about food, business savvy, and creative in that “Portland” way to take the reins. Someone to continue to offer Pixie Bars to the first Pix customers who browsed the Farmers Market years ago and to bring exciting new ideas of their own to the business.
Wholesaling and the addition a full lunch and dinner menu would be great opportunities for expansion. Does this sound like an appealing new challenge and exciting opportunity for you? Cheryl will offer consulting and training to the right individual to ensure a smooth transition of ownership. Seriously interested parties should contact David Stahel at 503-521-1025.
Portland has been a fantastic city to do business in with its open-minded customers, fabulous suppliers and ingredients, and city administration that makes it possible to be an entrepreneur. Cheryl is excited to start working on new projects here and abroad in the future. Today though, it’s business as usual. See you at Dim Sum?
Pix Patisserie For Sale
August 25, 2008 By 7 Comments
Food Dude
"I have a wide-range of food experience - working in the restaurant industry on both sides of the house, later in the wine industry, and finally traveling/tasting my way around the world. Whether you agree or disagree, you can always count on my unbiased opinion. I don't take free meals, and the restaurants don't know when, or if, I am coming."
so do folks on this site think it’s a good idea to make this sale public knowledge or is it going to kill the Pix business now that people know Cheryl is on her way out?
Um, I think Cheryl and David announced it in the above press release. I don’t think it was ever meant to be a big secret. At least not from them sent they openly sent it out to a whole bunch of places.
I’m not sure how I feel about this. Losing the main chef and driving force for such a small detail oriented place is scary.
Is Pix a chocolate store? I always thought of it as a bakery.
I can’t imagine she’d willingly sell to someone who wouldn’t maintain a certain level of quality; on the other hand, I’ve seen plenty of great concepts ruined by someone who had their own “brilliant” ideas post-sale. I certainly wouldn’t stop buying the pastries simply b/c of an upcoming ownership change tho.
what I’m really curious about is whether any of you have an opinion on how much she might be asking. (i’m putting my investment banking hat on now) do restaurants sell for multiples of revenue or profit, typically? any ballpark on revenue here? i’m thinking in the range of $750k-$1.2 million a year maybe?
Price depends on how long she would be required to stick around to instruct and consult.
It is very common to see places of that ilk sell and then tank. More often than not, in my experience.
But why in hell would anyone be so stupid as to stop buying their product just because it’s on the market? Now, after the sale that’s another story, if the quality takes a dive.
My concern as a prospective buyer would be that people would hedge their bets soon after the sale and stop buying/going for a bit to see how quality fares. So you’d need to invest some time/$$$ in ensuring that you get positive word of mouth after Cheryl leaves that everything is the same if not better.
The two most recent examples of a place selling and then kind of falling off the face of the earth–that I can think off–are Assagio and Colosso–the former closed, and when was the last time you heard anyone mention Colosso?