DC business owner warns of 'out of control' prices and crime after 52 restaurants shut down

Interesting. Personally, I'm not a big fan of DC. Liked it better years ago b4 it got overbuilt.
However, i know several young people that live in DC and all are quite happy there ( except for housing costs). In fact one's parents are looking to leave Florida and buy next door in Alexandria.

 

Alexandria is nice and also expensive

 

Lede story on the WashPost website:

2023 was District’s deadliest year in more than two decades
The city recorded 40 homicides per 100,000 residents, with victims in every ward, from babies to the elderly

https://www.washingtonpost.com/dc-m...ng-violence/?itid=hp-top-table-main_p001_f001

 

Would be interested to see what the norm is on restaurants closing in DC relative to these numbers. I used to work in the industry, I relocated with my company back around 2010 with plans to expand and open a bunch of stores in that DC/Metro DC market. We were a national chain with plenty of financial backing, but plans were altered drastically when stores were opened and P&Ls were a disaster relative to other markets. Rent alone destroyed margins and pay rates took away the rest of the would be profits when run at the same volumes. A $220,000/month unit would typically put $25k or so down on the bottom line, we were barely breaking even in Falls Church Va. at that number. They never even opened an actual DC location based on the financial struggles in the suburbs and all the obstacles they’d face in the city.

 

So Ive heard, but they have $$$.