Issue 216, February 18, 2024
In our previous session, we were joined by Craig Smith, the proprietor of the Alhambra Theatre & Dining. Craig, along with his associates, acquired the theater in 2009 at a point where it was on the brink of closure. Since acquiring it, they have witnessed an annual growth of 25%, with numerous performances being completely sold out. Craig shared insights into the financial challenges of managing a company that has over 100 employees, especially during the Covid-19 lockdowns. He disclosed that the business incurred a loss exceeding 2 million dollars in order to retain its workforce throughout that period.
Furthermore, Craig mentioned how the PPP Loans from the government played a crucial role in sustaining the business, a scenario familiar to many of us in our respective enterprises. He also revealed his recent acquisition of another business, the St. Johns Food Service located in St. Augustine, noting that the Alhambra has become the second-largest client of his new food service business.
Our next meeting is scheduled for February 28th, featuring Karen Mathis from the Jax Daily Record. Please tell a friend and come join us!
Warmest regards,
Michael Best
2024 President
