YOUR BUSINESS AUTHORITY
Springfield, MO
Fred Coco, who owns the restaurant at 2931 E. Battlefield, has reached an agreement through which Duran will work as his apprentice for a year. When the test period is up, Duran will have the option to buy the 11-year-old restaurant.
“After that year, if I’m satisfied with what he’s doing, he can take it over as The Metropolitan Grill,” Coco said.
Coco and Duran declined to share the purchase price or other terms because negotiations are in progress.
“It’s still in the works,” Duran said. “We’re still in negotiations right now, so I don’t want anybody to start presuming anything until it’s actually happened.”
Duran is now working for Coco in what Coco referred to as “restaurant school.”
“Right now he’s doing everything. He’s trying to learn everything that I do,” Coco said.
Duran worked for Coco when The Metropolitan Grill began serving lunch three years ago. More recently, he was general manager at Galloway Station, 4211 S. Lone Pine Ave.
“I expected him to do something in the future on his own,” said Galloway Station owner Klaus Greinke. “I was surprised it was Metropolitan. It’s more fine dining, and we are a bar and grill.”
The Metropolitan Grill has about 40 employees, Coco said, including 60 percent of its original staff.
The proposal
Duran approached Coco twice about buying the restaurant; Coco declined the first time, thought it over, and when Duran asked again, Coco had decided he would consider the sale - on his terms.
“I kind of figured out a plan to make sure he did it the same way. If he kept it The Metropolitan Grill, I would think about it. (By) June 1, 2006, if he can prove to me that he’s got it all under control, and he’s making the food the way I make it, it’s all his,” Coco said.
Coco said that he hasn’t made a decision about what he’ll do should the sale go through.
“I’m only 51. I’m not really going to retire,” he said.
Coming to this conclusion wasn’t easy for Coco.
“I’ve been in this business for 37 years,” he said. “We’ve been open for 11 years now. I’m not burned out with The Metropolitan Grill by any means. I think it’s natural life progression. I think it’s time to mosey, I guess.”
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