Wednesday, August 5, 2009

That's a LOT Of Waffles

By now you've all heard about Phil Mickelson's goal to be the Magic Johnson of Waffle Houses. He wants to own a string of them in the Southwest, confirming this fact at his Wednesday news conference at the WGC-Bridgestone Invitational.

According to my buddy Larry who is a chef at a West Texas IHOP reports, Mickelson put a bid in for, get ready for it, $20.2 million for the 105-restaurant group.

GS Acquisitions (Mickelson's group) became interested in buying the SouthEast Waffles franchise because all three men enjoy eating at Waffle House, though none of them has any restaurant experience, [GS executive Terry] Pefanis said. Pefanis said the men saw a good business opportunity based on the restaurant chain's location in the Southeast region and recent profits.

I'll hold off on the "I can't believe Mickelson is a fan of Waffle House" jokes, but I will say that I think anyone that buys a Waffle House (or eats at one, for that matter) is a friend of mine. When I was 12, I used to go and get the All You Can Eat Kids Buffet for like $2.99, and I'd get a waffle, eggs, hashbrowns (diced), bacon and sausage, and I'm pretty sure I'm the only person still fairly skinny that had the diet regularly. Hell, I'm surprised I'm still alive looking back at that.

Also, I once had a lady serve a waffle with a fly in the syrup, and when I brought it up with her she bellowed, "You'll have to pay extra for the meat."

I've had many goals in my life, but I just thought of one as I typed this story out -- I want to own a Waffle House before I die. Come on, who's with me?!?!



Is this thing on?

(Also, mini-contest for readers. If anyone can make me a t-shirt with the above billboard on the front of it (my surname would be proud), I'll send out two sleeves of Pro-V1s.)


Freedo said...

Athletes are phenomenal investors. They have such a long track record of success in uncovering undervalued opportunities.

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