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How Did Bernard Huang Buy a Foreclosed Dickey's Barbecue Pit?

Friends asked Bernard Huang, then at the University of Texas in Austin, to take over a foreclosed Dickey's Barbecue Pit. The price was low because the restaurant was in foreclosure. On a spreadsheet, matching the previous owner's revenue would have made them money, since that owner was carrying financing costs they thought they could skip. Huang had a little over $120,000 from online poker, and the paper case looked solid, so they bought it. He tells it as a decision made from the numbers, before anyone had run the store. The restaurant became his first business and, later, his first failure.

The Failory Podcast · How +3 failures led to a $150k/month SaaS, with Bernard Huang of Clearscope · at 4:47 · ·Transcript

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