Financial Literacy Advice #3 - AVOID C.R.R*! How Do Athletes Go Broke?! The Five Biggest Reasons Pro Athletes Lose Money

[geechiedan]

Allen Iverson wants to bring a new dining concept to Philadelphia, reports the Philadelphia Business Journal.

The Philadelphia 76ers legend and 11-time NBA All-Star teased his plans to open a restaurant in the city in an interview with GQ Magazine published on Tuesday.

When asked what he was looking forward to next, Iverson mentioned the forthcoming opening of his Virginia restaurant serving seafood and soul food. After it opens there, the Hampton, Virginia-native said he wants to bring the concept to Philadelphia because "it'll be big, obviously."

He also wants to open the restaurant in Washington, D.C., and Charlotte, where he currently lives.

"I’m crawling before I walk," Iverson said in the article.

Allen Iverson Has 'The Answer' to Dining in Philly. He Wants to Open a Restaurant

Allen Iverson wants to bring a new dining concept to Philadelphia, reports the Philadelphia Business Journal.

www.nbcphiladelphia.com

The three things financial advisors TRY to encourage the nouveau riche (newly rich) like athletes to avoid is the 3 biggest most notorious money pits... *Clothing line, Restaurant and Record label! C.R.R.

Iverson has done ONE of the R's so far and apparently interested in getting into another.

 

[ny1800]

Ok, I'm interested as long as the spot is clean and they make good food.

 

[geechiedan]

 

[TIMEISMONEY]

Hope it’s good

 

[geechiedan]

everyone thinks this is a good idea?

 

[Amajorfucup]

I see this nigga still likes burning his money. Unfortunately John Thompson is no longer to tell him how stupid an idea this is.

 

[Temujin]

Not a great idea. Allen has no competitive advantage in the restaurant business other than name recognition. In virginia in his area it should work because he's popular as hell but franchising it will be tough.

 

[Z MONSTER]

The restaurant business is no joke. A CAC coworker had one and he said you will make a lot of money, but you will hate every day you go to work. Had a cousin who said the same thing.

 

[34real]

He should open a franchise like a wingstop or subways and go in with someone else who owns a few and try his best to learn what it takes and what it looks like when its doing good or bad.

He needs a mentor cause I doubt AI has done any homework on this idea,shiiit he wouldn't workout or come to practice so.

 

[geechiedan]

a fast food joint is one thing.....but sitdown fine dining is very hit or miss mostly miss. Celeb restuarants enjoy the flavor of the month openings but 3, 4 years down the line... the new wears off and the publics attention wanes...PLUS this is post Covid where night life in many places is STILL not back to where it used to be. And thats NOT even factoring in bad ratings or critc reviews. And it doesnt even have to be bad...just middling is enough to make people go

hope he protects himself with lot of OPM

 

[geechiedan]

 

[geechiedan]

 

[geechiedan]

 

[geechiedan]

 

[geechiedan]

 

[RoomService]