Bluesnu

December 14th, 2013 at 10:41 PM ^

That's not what you said. You said the only difference "is the color." It's not. The experience of blimpy outlasts the time spent eating there. When I talk with friends about the best burger I've ever had, I don't say "have you been to Five Guys?" That is, unless, I'm trying to be a sarcastic asshole. On the other hand, when I reminisce with alum about our experience, or when I bring outsiders back to AA with me when we go to games, I make sure to take them to the Ann Arbor "unique" experiences. Not the same thing they could get anywhere else.

So, no, it's not "just a different color." If I was returning with friends to AA I wouldn't just take them to Five Guys because Blimpy is gone. That'd be like heading to New York and being like "we gotta try this new deli around the corner that replaced a neighborhood staple.. It's called 'subway'.

If blimpy returns, students will return to its doors as well.

Joined: 01/06/2011

MGoPoints: 381

RickAndScott

December 14th, 2013 at 2:39 PM ^

And how do we know they really need help or are just passing the buck to their clientale to fund the down payment and renovations, and then fund the rent by paying for overpriced food?

When Manger shares his books (he won't, per private practices), I will help out. Until then, there is no transparency here to provide trust that this is not another crowd-funder from a source that doesn't actually need it.

They may not have owned the old building, but if you aren't making money hand-over-fist at Blimpy, you're doing something wrong.

Joined: 12/06/2013

MGoPoints: -15

remdog

December 14th, 2013 at 2:49 PM ^

I find it incredibly bizarre that a business which has been successful for decades to the point of becoming an Ann Arbor landmark is now asking for donations. The owner must be incredibly bad at business management or money management. If anybody contributes to Blimpy Burger, they should get a piece of the business as an investment. Otherwise, it's foolish. It's probably foolish anyway to invest in a business who's current management has apparently been totally incompetent. That being said, Blimpy Burger is an Ann Arbor institution with an incredible brand and I would think somebody might be interested in investing in that brand. I do love Blimpy Burger and sincerely hope it can continue on despite management incompetence.

Joined: 05/14/2009

MGoPoints: 3085

sealedseven

December 14th, 2013 at 2:55 PM ^

I like how people are bashing Blimpy's saying they are just taking your money because they are greedy. If that was true, then they would not be giving you the incentives at each mark. 

Joined: 10/22/2012

MGoPoints: 1660

JHendo

December 14th, 2013 at 4:20 PM ^

Simple math: everything except 1 or 2 options does not equal a dollar for dollar trade off (i.e. - you give them $50, you get $25 back and a cheap bumper sticker). People who contribute to this aren't investors who get a fully realized return. This is purely an attempt by Blimpy to avoid taking on a loan where they have to actually pay it back with interest by making sugar daddies of us all. In essence, it's professional begging, and while you may think that's just business saavy, I think it's greed.

Joined: 10/25/2008

MGoPoints: 13993

Ryno2317

December 14th, 2013 at 4:19 PM ^

I used to live right down the street from the place.  Back in 1997-98.  Back then, I thought the food just wasn't very good.  I thought the other place -- was it Red Hots or Red Hot Lovers or something like that? was much better.  

Joined: 10/14/2013

MGoPoints: 12486

Fortran77

December 14th, 2013 at 4:47 PM ^

Why not join forces with Zingerman. They are looking for partners who share their vision and ideals and want to stay in Ann Arbor Zingermans has figured out how to turn an Ann Arbor icon into a successful business with a twist of anarchy. Perfect for Blimpy if they can align.

Joined: 03/16/2013

MGoPoints: 58

tdcarl

December 14th, 2013 at 5:32 PM ^

Meh, I know chains are the devil to many people, but if I want to get an over priced burger then I'll just go to Burger Fi where they I can also get a beer and they'll put maple syrup on my bacon and egg burger. And their fries are better. 

Joined: 04/11/2009

MGoPoints: 3175

MGoUberBlue

December 14th, 2013 at 5:33 PM ^

To the contrary, this appears to be a crowdfunding solicitation.  The SEC permitted this concept through the JOBS ACT of 2012, which allows local small investors to contribute to a business concept.  The 2012 Jumpstart Our Business Startups ("JOBS") was designed so that local investors could participate in local businesses.  It requires a portal (Indiegogo) and an unrelated sponsor of the business (Crazy Jim's Blimpy Burgers).  Indiegogo is a large national portal.

The business does not have to treat the investors with financial rewards but can provide other perks.  For instance some investors in movies get to have their names listed as "associate producers" or other title.

So the bottom line is that Crazy Jim is soliciting capital through the JOBS Act and it has nothing to do with donations.  Contribute capital if you desire and wait for your returns, whatever they may be.

Joined: 06/06/2011

MGoPoints: 4443

DeBored

December 14th, 2013 at 8:28 PM ^

This is fascinating.  My question is, if the place has been in business for 60 years or whatnot and has been profitable at all, why hasn't the business retained ANY earnings or hold any assets that can be put up as collateral for a loan?  Did the owners take 100% distributions on all the earnings and spend it all on hookers and blow?  Meanwhile, interest rates are as favorable as any time in US history, so why is debt such a bad word?  I wish them the best of luck, and put me down for a Quint next time I'm in town if it works out.  This reminds me of the new wave of middle class kids trying to crowdfund trips to Nepal to "expand their horizons" or some shite like that.

Joined: 11/14/2013

MGoPoints: 1138

Reader71

December 14th, 2013 at 9:01 PM ^

There is nothing at all that requires a business owner to do anything at all with the profits. Maybe he pays his house. Maybe he buys his kids food. Maybe he buys drugs. Maybe he lights it on fire? So? Most small business owners make a living, and nothing more. This is especially true in the restaurant industry. I know. I was raised in restaurants, have family that still own restaurants, and have managed quite a few. Restaurant owners essentially buy themselves a job. If you don't own the real estate, you are, by and large, not going to get rich. But even if you did, you are not obligated to do anything in particular with your money. Don't donate, don't invest, whatever. But why do we think we have a right how to tell a guy how to spend his money? This is even stupider than telling someone how to run their business.

Joined: 08/30/2009

MGoPoints: 22968

MGoUberBlue

December 14th, 2013 at 9:20 PM ^

Local business seeks capital to move to a new location after losing his tenancy in the former location.  Such business seeks capital investment through a new SEC regulation.  Local investors may invest in the business with relatively small investments.  In the case of Blimpy, those investments may be as small as $2.00.

So what does one expect from a $2.00 investment?  Probably not much.

I have been to Blimpy about once a year for the past 40 years, generally leaving with unfavorable digestive consequences the next day.  The efforts of the staff to emulate Belushi in the SNL Cheese Burger Cheese Burger skits is weak to say the least, but they are trying their schtick.

I will throw at least $25.00 to help a local business even if I don't think it is great, but just to support a business that had a local following for a long period of time in Ann Arbor.  I don't expect anything in return and certainly don't look at it as a donation.  I may even throw $100.00 to help them.  It is really a small amount to support a local business that some consider a magnet for students and athletes at UM.

Stop the nonsense about whether the business deserves it or not.  Either get on the bus or not and no one gives a shit one way or the other.

Joined: 06/06/2011

MGoPoints: 4443