Wednesday, October 26 , 2016, 8:08 pm | Fair 60º


Local News

Want to Own a Restaurant? Pace May Be the Place

Owners Jeff and Kim Snyder are holding a contest to give away the downtown Santa Barbara business

Dreaming of owning a restaurant in the heart of Santa Barbara's downtown district? Now could be your chance, if Jeff and Kim Snyder have their way.

The Snyders are the faces behind Pace Food + Drink at 413 State St., which they began with the goal of handing it off to their sons, but Ryan and Cole expressed interest in doing other things.

Instead of selling the restaurant, they've decided to try another approach: giving the restaurant away to a chef to carry out his or her own vision.

“We want to find someone passionate about this business and give them an opportunity of a lifetime," Jeff Snyder said.

He has a 35-year career as an executive chef at hotels, resorts and private clubs and worked in the Bay Area, Monterey and San Diego before ending up in Santa Barbara. 

Kim Snyder can be seen running the restaurant's front of house operations, and Jeff, Ryan and Cole work together in the kitchen pumping out dishes that have made the restaurant beloved by locals and a foodie haven in the sometimes chaotic area of lower State Street.

The family is looking to give away the 50-seat, open kitchen restaurant to someone who shares their vision, so they're asking for video entries from contestants explaining why they should be the new owners.

Submit the winning video entry, and Pace Food + Drink at 413 State St. in downtown Santa Barbara could be yours. (Courtesy photo)

The winning contestant will get the space's lease — paid for the first 12 months of the restaurant's new ownership, an $83,000 value, and $20,000 in working capital to help cover expenses for up to a year, at the Snyders' discretion.

Jeff Snyder also said he would provide 120 hours of mentoring, if the new owner requests it.

The loyal customer base at the restaurant will also be passed to the new owner, no small task of anyone who has ever opened a restaurant from scratch.

Entrants will need to pay a $500 entry fee and submit a one-page overview of their general concept of the restaurant they want to run in PDF format. Entrants are also asked to tell their story in a short video and why they should be chosen. The video will be posted to YouTube, and the video with the most likes will automatically be one of the top 10 finalists.

The 10 finalists will be selected May 16 and then notified for the judging. 

The top five contestants will be announced May 19, and will be required to cook a sample dish for a panel of judges, including the Snyders and other local chefs and foodies on June 1, and the winner will be chosen and announced by the judges.

The winner will have a month to begin day-to-day operations of the restaurant. Click here for more information about the contest and rules.

Noozhawk staff writer Lara Cooper can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.

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