When Mother Nature Hits Your Bottom Line
Our hometown, Austin, Texas got some bad news yesterday. One of our local party landmarks, Carlos’N Charlie’s announced they will close their doors for good after Labor Day.
Since 1995, the local eatery on Lake Travis has been a go-to spot for both walk-ins and boat-ins. However, with the central Texas drought running into its fourth year, boats—which represented a great portion of Carlos’N Charlie’s business—have not been physically able to dock at the restaurant due to the fact that there’s no water to float on.
When a major revenue line is cut off and not replaced, that business usually dies. The owners cite a drop in revenue between 60% and 80% over the past few years, and with no end in sight to the local drought, the restaurant has no choice but to close.
There is a massive ripple effect across the community when the waters drop at Lake Travis. Fewer boaters come out, so marinas lose money. Vacation rental properties go unoccupied, and tax revenues for the local community run almost as dry as the lake.
This drought will not last forever. At some point, the waters will return to their normal levels, and businesses will return to the lake shores of Austin. Until then, we just have a sad site of a community running dry.