You have to spend a certain dollar amount to get the amount of the so called "FREE" gift card! This resturant. Don't ever buy or use this company. I received a card as a gift from an event I participated in. I came back to the use the rest and the money was gone. So bad. Purchased a certificate to a restaurant in Los Angeles Star of India the owner told me they were not accepting those certificates due to new ownership. We stayed and ate at the restaurant all the same spending 30 dollars more than anticipated.
Yet you are continue to defraud customers! I was given a restaurant. I took it to a restaurant and I could no longer redeem it. I had to get a refund from restaurant. Not easy to use and I would not recommend. Card never arrived so I called K Designs of course thinking this was a scam! Card finally came but it's a coupon actually limited to certain eateries. Whole thing is kind of schemey.
I was misled and K Designs didn't get my business anyway. Not nice to fool me! A bunch of restaurants on their site that offer coupons has closed. We went to one this evening that no longer takes the coupons and said they've contacted restaurant. You should call a restaurant and ask about coupons before you go and end up paying way more than you expected.
Most useless purchase I can recall making. You have to spend so much for a restaurant that may be mediocre at best. I haven't successfully use a single certificate. The restaurant I requested a certificate for in closed 3 months later. Just today I got an email reminding me to use my certificate.
The concept is good on paper, but can not use anywhere. When you're paying a fraction of the savings offered, -- people need to keep it real on that it's not a Visa Gift Card. If you go to the website, put in your zip code, there are "Plenty" of restaurant options to select. Pull up code on your phone or print paper certificate. If a restaurant stopped accepting, which happens but is rare, then Restaurant Dot Com will give you new code to go elsewhere.
Period, end of story. Follow the rules and the experience is ideal. Food was horrible at best. Definitely would not go back or recommend this place. You would be better off eating at a McDonalds!! I have no complaint about the certificates and their redemption, but the website is very poorly managed.
My account lists some available certificates that I have long ago used, as well as restaurants that have gone out of business. It is disappointing to go to the location of the restaurant for which I have a certificate, only to find it no longer exists, and it's not just that it moved to another location. Some of those defunct restaurants continue to be in the list of restaurants for which I can select to redeem my certificates. It is almost impossible to reach out for help.
I found phone number for customer service on google and nobody picking up phone. They simply hanging up on you. Do not buy any deals because it would be just throw your money way.
Same thing happened to me. There is no live person to talk to. They will give you a credit to use on another voucher but you will probably run into the same problem.
Most likely because of people like me. I had never heard of this company, but, was offered their cards as part of a promotion. After being burned, I took the time to post my opinion. Others may not take the time to caution others Another dismayed Restaurant. Join the hundreds if not thousands of consumers who fall prey to their ploy and have been subjected to what you are undergoing time and time again. Your question is not very clear but if your certificate is "unused" I assume that means it hasn't been used yet and it is available for you to use.
Be sure to check for other possible restrictions and minimum purchases. You probably can't since it is virtually impossible to reach the company. I wish I had a better answer for you. And when you call restaurant. They will find a reason but they will suggest you spend more only to loss that too. Be cautious. Read verified diner reviews, get deals and browse menus for thousands of local restaurants at Restaurant.
Claim your listing for free to respond to reviews, update your profile and manage your listing. Share on Twitter. Add a note optional - e. Write a Review Ask a Question. Corporate Values. Overview Restaurant. What reviewers want you to know Positive highlights No positive highlights yet. Top Positive Review. Top Critical Review. Rating 5 stars Other Verified purchase.
Verified site experience. Contains image or video. We're not sure how to handle this as the seller doesn't even know how much 'value' is circulating in the public. Great question, this is something that can be handled with a proper deal structure involving some vendor financing. I recently did a video about this very topic for one of my YouTube followers. You basically make the vendor's outstanding gift certificates a 'currency' which can be used by the buyer to repay the vendor loan.
It's a net-sum game for the seller since he's already received the cash without having to provide the goods or services. Hope this helps. Feel free to schedule a call anytime you have a question about business transactions. Answered 5 years ago. Consider adding what is called a "Goodwill" this is the proceeds of what is being paid for that is projected outside of traceable assets in the business. Your situation is not typical use for business goodwill but i think it could be easily applied as it certainly adds value to future earnings and acts as branding for your acquired business.
I would recommend coming to a consensus of ratio of sales:gifts then claimed:non-claimed from that gift ratio. Because goodwilll applies to branding and market recognition, assuming the gift certificates have aged, the goodwill value of the gift certs have low value to seller and high value to buyer as if buying at discount. This benefits the buyer while seller still gets some compensation for sales value added to the business itself. The balance of gift certificates outstanding should be listed as an advance deposit on the balance sheet and treated as a liability until they clear - assuming the current owner recorded them properly.
Then, when they clear, the revenue is recognized. Accordingly, as a liability, it would reduce the value of the business as part of owner's equity at the time of valuation and subsequent sale. In the case where the seller does not know the value, hopefully there were records of money collected in the deposits and noted as such.
That could be determined through an audit, assuming there was enough to be concerned with and a journal entry would need to be made as a liability for that amount on the balance sheet.
Handling gift certificates when buying a business is easy. However, selling gift certificates can help a variety of businesses increase sales no matter the situation or time of year. Whichever route you choose, just add the essential information like what each card is redeemable for and when it can be used. You can also get up and running quickly by selling online gift certificates, which will be covered later in the post. Delivery is available at most Red Lobster locations. In the U. If delivery is available, the delivery hours will be indicated in the location information.
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