There’s a new post on the Schumacher Real Estate Brokers website announcing that Avondale’s popular Palookaville restaurant is up for sale. The post describes the sale as “an incredible opportunity to jump onboard on a train leaving the station to endless growth opportunities.”
It even details celebrity-owner Jim Stacy’s reasons for selling…
Celebrity Owner and reality TV Star who has appeared on the Tonight Show with Jay Leno, Food Network, Cooking Channel and Discovery Network is moving onto another project but will stay on during transition period with extensive training.
The post notes that the restaurant “did $1,500,000 with owners pulling out almost $100,000 with zero effort after paying full staff and all expenses” in 2014 and gross sales in 2015 have been $90,000 a month. The sale also includes the Palookaville food truck and “Unit 2”, the takeout location currently under-construction in Little Five Points.
Importantly, the post notes that Mr. Stacy “will stay on in a consulting arrangement if needed by new owner for menu development and or to be spokesperson.”
All this can be yours for $575,000.
Photo courtesy of Schumacher
Man. Life’s been tough in AE lately. First the Bishop delivers a gut punch, then Palookaville nails ’em with an uppercut as they’re doubling over.
At least the concept looks like it’ll remain intact. But given their longstanding effort to turn AE’s downtown around, there’s gotta be a lot of teeth grinding going on at the moment.
Doesn’t bode well that they have taken in less this year than last.
My thought exactly — sounds like revenue is down about $500k in 2015, though the quoted statement isn’t entirely clear.
The food is delicious, but their is a 25% chance of dying of a heart attack if you eat there more than once.
You took the words right out of my mouth.
Oh and I swear it’s true, I was just about to say I love you. 🙂
-You Took the Words Right Out of My Mouth
Meat Loaf
(words and music by Jim Steinman)
any new owner better keep the Sriracha Milkshake. It is fascinating.
At least in its current location, Palookaville has probably peaked out in sales. The novelty factor has worn off, so now it’s just the regulars and the occasional newbies. However, I agree it’s poised for growth and expansion with a well established brand and identity.
As far as Avondale trying to turn the downtown around, they could start with some clear signage pointing out the available parking in the area and put up some WALK lights at the College/Clarendon intersection.
Wow, Avondale Estates seems to enjoy killing business. Seems like an unproductive Stepford.
Except neither of the two recent shake-ups have said their closing was related to any city action or inaction. What makes you think the city is the root cause?
I don’t think the city is the cause–Stacy (and any partners?) probably realizes that the value of the restaurant has peaked, and will not see profit growth without further investment as a multi-site or franchise business. He probably has other things to do, as his varied career suggests.
I’ve heard anecdotally that the Bishop’s owner was a difficult person to work for. Don’t know if it’s true, but more than one person in the food service industry has mentioned that this reputation was out there. This may have been a factor in the closing.
As I mentioned above, however, there are some things that AE could do to make the downtown more user-friendly, such as clearly marked parking locations and a safer way to cross the major downtown intersection by adding WALK lights. Palookaville is the flagship business down there, and it’s at an incredibly busy intersection that can be quite difficult to cross, even though there are traffic lights.
The residents of AE by themselves cannot support businesses in Tudor Village and will always rely on visitors. Unfortunately, the city has a major PR issue, warranted or not, that persists. Avondale is still notorious for being unwelcoming and Stepford (exhibit a) the poorly worded park signage). Why else don’t people visit when there’s ample FREE parking, charm galore, and close proximity to dense areas?
Newer residents seem less isolationist, but there’s an old guard (literally and figuratively) that comes across as hostile to outsiders which ultimately translates to businesses closing.
Jim Stacy is a serial entrepreneur doing what a serial entrepreneur does: making his ideas reality, making a profit, moving on and making the next idea a reality. With any luck, he will loop back to Avondale in the future with another great restaurant (or entertainment) concept.
I’ve been there once–and I’m guessing that’s true for many of their customers. Not that it wasn’t good, but it’s a novelty restaurant in an area that is definitely not a destination point. Not a good match.
Maybe folks didn’t know but they had/have wonderful salads, believe it or not
P’villa also has a delicious brunch menu and the Old Bay Sea Witch Bloody Mary is wicked good.
Anybody remember the LaBrea Stompers in the early 90’s? Stacy was the lead singer. I’m didn’t see that gig in the bio.
People from AE go to Decatur, but people from Decatur don’t go to AE.
All I know is that this has been a Kick A place and has served many happy families and individuals. It would be a shame to see it go. So few spots are oriented to a Universal Clientele..i.e. young, old, married (w/ or w/o kids), single, skinny, fat, hungry, thirsty, etc. Palookaville is a great place to take in almost anyone and make them feel at home! I do think the Avondale location is a challenge but also a real plus…parking & pedestrian friendly. Not sure what could secure Avondale as a destination but if not this, then what? Maybe we need a full fledged Brathaus or something…with German family singers and so on. Maybe the transitional consulting team can offer some guidance in this regard.
oddly, you might be onto something. Avondale might need to be like a ‘little Helen’ to get enough traffic to sustain business.
We went to P’ville once. It was solid, kind of expensive (although probably not out line with the quality), and we never made it back, and now we live further away.
Decatur is dense with upscale condos and apartments, which has to help their businesses, but it seems like this type of thing has been very slow to develop in AE or around the AE marta station. They’ve been talking about it for years, but it seems like little to nothing gets off the ground.
I keep hearing about the little five location opening up and have yet to see any progress. The official announcement of a Pallookaville take-out location was announced 10 months ago. Anyone know the true progress?
As a buyer i’d be very cautious purchasing a business that is stating it includes the sale of secondary location that is currently in the process of opening.
Are the toys included?
Just a reminder to everyone talking about adding German themed attractions to Avondale. The town’s architecture is based on a EnglishTudor Revival style and the town itself was named after a town in England named Stratford-upon-Avon. If you drive through the neighborhood you will notice many streets named with very obvious British names – like Stratford, Nottingham, Kensington, Dartmouth, Chatsworth etc.
I will let you all now think of whimsical British themes we should bring to Avondale to help with our downtown problem.
“The town’s architecture is based on a EnglishTudor Revival style and the town itself was named after a town in England named Stratford-upon-Avon.”
I’ve long thought it would be great if the Shakespeare Tavern moved to Avondale, though I don’t know if it draws enough people to be a magnet for the area.
That would be really cool considering since Stratford-upon-Avon was Shakespeare’s birthplace.
To the commenters above:
First off, let’s clear somethings up.
The restaurant will continue as is.
It does quite well.
The quote on finances is out of context and incorrect as we have not finished fiscal year 2015.
Our business is somewhat seasonal, following school schedules and holidays.
It was always in Kim’s and My plan to put it on the market after the 2 year anniversary.
I did the exact same thing with the Star Bar.
There is a pretty good chance I will stay on in a consulting, special appearance role in some capacity in whatever occurs. My team will also stay in place if that is what the buyer decides. The buyer may choose to be an operating partner. All of this has been discussed in other articles on the sale.
Decatur Metro chose to not contact me and get these details before publishing this.
Had they done so, most of your speculation would have been unnecessary.
I never planned on Pallookaville being the last and only thing I would do. I have never done just one thing.
I have other concepts, TV shows, movies, a novel and at least 10 Children’s books waiting to be started or finished. I’d like time to do that.
The city and citizens of Avondale Estates have been awesome, anyone who says otherwise has absolutely no idea what they are talking about.
Now, to specific posts:
Travis, The second location is progressing. Have you ever had to get a special zoning and sales category created for NC2 from the City of Atlanta? It takes a massive amount of time.
Fulton County Health is also running months behind on Health Plans due to a corruption investigation within the department.
Couple all of that with a GC that has disappeared with deposits – and the legal issues with that – and there has been some delay. We cannot start any work until proper legalities have been documented.
Once work starts I believe the build out can be done in 2 weeks.
It took the last restaurant that opened in Little 5 took 2 years to get open and they continue to have problems with their parking requirements.
We are far closer than that. Any buyer will be a party to all of that information, none of which I have hesitated to discuss with anyone who asked.
FM Fats, some will be on insured loan, some will come with me, just like some of the artwork.
There are things in the collection I have had my entire life that will go with me where ever I go.
To the others that claim we are a novelty restaurant – if that’s how you need to classify the place – more power to you.
I, however, see a place that has fostered community, has done something vastly different, took a major risk in a business district that needed pioneering and created a new family. I believe it was a concept that has become a tradition for people, whether it be finding the truck in their neighborhood or celebrating birthdays at the brick and mortar.
We will remain in Avondale as our daughter attends school here.
To those who had positive things to say, it humbles me and I am appreciative to my core for your thoughts.
To all, thanks for simply talking about the place.
Jim Stacy.
“I, however, see a place that has fostered community, has done something vastly different, took a major risk in a business district that needed pioneering”
Agree with the above wholeheartedly–Pallookaville is the epitome of what every down-and-out area like the Avondale strip should want to have move in, and everyone living within 3-5 miles should try to work it into the rotation every so often. A lot of it is fried, but there are also some leaner meat sandwiches, salads, etc. From my experience (and from what I’ve read), I never got the feeling that the kitchen staff was just ‘mailing it in’.
The rehab of the space was fascinating, loved looking at the photos of that.
If the local folks don’t support businesses like this, they’ll instead get tax preparation offices, dialysis centers, consignment shops, and similar bastions of excitement instead.
I like what you have to say, but feel the need to respond to your last sentence. I don’t see anything that has suggested that “local folks” don’t support Pallookaville. Indeed, Jim Stacy said the local citizens and city have been awesome. It comes down to the simple fact that AE doesn’t have enough density to support our businesses all by ourselves. Pallookaville has proven that people will come to AE and help us support our businesses (same with the consignment shops and other businesses you seem to ridicule). I appreciate Jim’s enthusiasm and spirit, particularly as it came at a time when AE was embracing the coming change and could use the encouragement. I am very sad to see Pallookaville change hands, but I hope that it will continue to be successful and that Jim will stay true to his word and remain involved in our little city. And I am optimistic that despite this change and the unfortunate closing of The Bishop, AE will finally work out the kinks and get our downtown thriving.
Oh, and I love the idea of the Shakespeare Tavern in AE! So fitting.