Here's a pretty epic stunt from the two owners of a two-year-old Santa Barbara restaurant: Pace Food + Drink chef/owner Jeff Snyder and co-owner Kim Snyder are holding a "Win Our Restaurant" contest where as the name implies the winner gets the keys to the restaurant, Eater LA reports. According to the contest website, along with the keys, the winner also gets the lease paid for one year (an $83,000 value), 120 hours of "mentoring" from Jeff Snyder, and, most confusingly, "$20,000 (not a cash prize) in working capital to help cover expenses up to one year (the first 12 months) at our discretion."
In the press release below, the Snyders say the reason they are giving away their restaurant is that their sons are not interested in taking over, "leaving the Snyders looking for someone who will bring new energy to the space." Of course, nothing is free, so in order to enter the contest applicants need to send a $500 entry fee, plus a video and a one-page essay that demonstrate why they deserve to win. Another catch: The winner must plan to change the concept Snyder says in the video below.
The winner will be determined by a panel including the Snyders, other local industry folks, and the food critic for the Santa Barbara Independent. The final decision will come after the top five candidates cook a sample dish for the judges and will be announced on June 1. While it's possible that the Snyders just want to make someone's dream come true by giving away their business for the cost of the collected entry fees, it does seem a bit too good to be true. Hopefully the winner won't unknowingly assume two years worth of debt or face some other horrible fate. For more on the contest, check out the video and press release below.
Video: Win Our Restaurant! - Pace Food + Drink
Seeking the Perfect Match, Owners Hold "Win Our Restaurant" ContestAnyone with a dream of owning his or her own restaurant can enter to win a popular, thriving business on Santa Barbara's downtown State Street, mere blocks from the Pacific Ocean.
Pace food + drink is an award-winning, open-kitchen eatery with a dedicated clientele. Owners Jeff and Kim Snyder created Pace as the type of restaurant they would enjoy and that their sons would take over. However, their sons have decided to choose other paths, leaving the Snyders looking for someone who will bring new energy to the space. Instead of just selling the successful business to the highest bidder, the Snyders have opted to Pay It Forward. Jeff says, "We want to find someone passionate about this business and give them an opportunity of a lifetime."
The selected applicant will receive up to a year's paid lease and up to 120 hours of mentoring from current owner Jeff Snyder, a chef with over 35 years experience.
Applicants are asked to submit the $500 entry fee to establish their conviction, plus a YouTube video explaining why they are the right people to win. They also need to submit a one-page overview of their planned concept. The winner is expected to create his or her own dining experience. (The current Pace recipe book or name stay with the Snyders.)
Ten entries – including the YouTube video entry that gets the most votes – will be selected as finalists; that will be narrowed to five by a panel of food industry judges and the Snyders. The top five entries will then have to come to Santa Barbara for an interview, walk-through, and a cooking demo. On Sunday, June 1, the winner will be announced.
At that point the winner will have a year to establish the restaurant as his or her own, and in 12 months will have to be able to assume the commercial lease and beer-and-wine liquor license. Included in the prize is up to $20,000 in working capital to help cover expenses, given at the Snyders' discretion.
The initial entry period runs from February 12, 2014 through May 12, 2014. All entries must be made at winourrestaurant.com.
· Pace Food + Drink | Win Our Restaurant [Official]
· Pace Owners Holding Contest to Give Away Their Rest. [Eater LA]
· All Stunts on Eater [-E-]