Santa Barbara couple to give away State Street restaurant in contest

A Santa Barbara family is holding a contest to give away their 50-seat restaurant right there on busy State Street. That’s right. Rather than selling to the highest bidder, they’re holding a contest to find the right person to take over the place.

Once Jeff and Kim Snyder realized their two sons weren’t as passionate about the restaurant business as they were and wanted to do something different with their lives, they considered selling Pace Food + Drink.

Hold on, though. In the middle of the night Kim came up with an idea that Jeff thought was crazy—at first. “The longer I thought about her idea of a contest to give away the restaurant,” he says, “I realized it would be a great opportunity for someone deserving who maybe doesn’t have the financial backing to own their own place. And we’d be doing something good by paying it forward.”

Since the “Win Our Restaurant” contest was announced last week, quite a few people have called, emailed or come into the restaurant to see whether it’s for real and what it’s all about. Many of them are already in the process of putting their video presentation together.

“I think it’s going to be a couple of weeks before we see some action,” says Jeff. “People serious about entering are going to take their time putting something thoughtful together. In order to warrant this opportunity, they need to make a first impression via a short YouTube video and explain their concept.”

So far, those interested have included a group of people who want to enter together, a young girl who grew up in the restaurant business with her father and wants to have her own place, and a restaurateur in New York who wants to bring his concept here.

“We even had a couple who came into dinner last night who have a restaurant in Fresno and told us that if they win the contest, they’re going to do the same thing with their restaurant in Fresno—pay it forward,” says Kim. “Wouldn’t that be great if it started a whole movement?”

Here’s how it works: To establish their commitment, applicants are asked to submit a $500 entry fee plus a YouTube video explaining why they are the right people to win and a one-page overview of their concept. (The name Pace Food + Wine and the recipes will stay with the Snyders.)

After May 12, when the entrance period closes, 10 entries, including the YouTube video that gets the most votes from the public, will be selected as finalists. Those 10 will then be whittled to five by the Snyders and a panel of Santa Barbara restaurateurs and others in the business.

The top five will come to Santa Barbara for an interview. They’ll also cook for the judges. Kim cautions, “This is not a lottery, but a skill-based contest. It takes more to run a restaurant than just being able to cook.” They also want to find someone who would be a good fit for their loyal customers.

On June 1, the winner will be announced.

At that point the winner will have a year to establish the restaurant as his or her own, and in 12 months will have to be able to assume the commercial lease and beer-and-wine license. Up to $20,000 in working capital to help cover expenses, given at the Snyders’ discretion, is also included in the prize, plus 120 hours of mentoring by Jeff Snyder.

In the end, says Jeff, “We’d like to be able to walk into the restaurant a year from now and be proud of what we’ve accomplished and the fact that the restaurant is just humming along.”

For more information or to enter the contest, go to winourrestaurant.com.

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