While that may have been a tough decision at the time, he says he now couldn't be happier.
The man the locals call "Schultzy" had one mission when he arrived in the town in December - to turn The Willows around.
The Ramshaw Lane premises began as a cafe and bookstore before the books were moved out and the cafe took over.
Then it diversified again, becoming less of a cafe and more of a tavern.
While in past years The Willows might have made headlines for the wrong reasons, including being linked to a stabbing in Arrowtown during Easter 2007, and breaches of the Sale of Liquor Act, Mr Schultz's decision to take over the management of the establishment boiled down to just one thing.
"I came to make the place work."
He certainly has the credentials to do just that, having owned and operated the Batman Fawkner Inn in Brisbane for seven years.
"It had 40 rooms accommodation, a nightclub, a cocktail bar, a public bar and Rick's Cafe and Restaurant, but it wasn't named after me - it was named after Rick's Cafe in the Humphrey and Bogart movie Casablanca."
It would appear he's already made huge inroads in turning The Willows around.
The tavern has undergone an interior overhaul with a dancefloor, a new bar, booths and a jukebox installed.
This week a new kitchen installation began, and shortly the floor will be redone before new lights are installed, including something special for the dance area.
"I've just changed the dynamics of the whole place . . . it didn't really have any recognition, whether it was a tavern, or a restaurant, or a cafe, and I've turned it into a tavern with a restaurant."
It was the latter that was Mr Schultz's focus, last week introducing a new menu, including pizzas, which gave diners another choice.
A chef by trade, Mr Schultz oversaw the entire menu, which is prepared by his Australian and Brazilian chefs.
"I've overhauled it [the menu] completely. We've brought it back to realistic prices, not over the top like Arrowtown is.
"We've basically brought it back so the family can come in here and eat and not chew their right arm off to pay the bill."
However, he's quick to point out the success of The Willows thus far is due to the loyalty of the locals - particularly the Arrowtown Rugby Club, whose premier team, the Bulls, are sponsored by the business, and his seven staff, whom he wouldn't be without.
"It's only been with the help of everybody - a lot of people have come on board . . . they've really made it a success."
Mr Schultz said an example of that support and success was a gig Arrowtown-based family band The Lynch Mob played at the venue during Anzac weekend, bringing 400 punters in for the party.
It's something he's hoping to do more often, with a resource consent application pending with Lakes Environmental to bring in 12 to 15 live acts a year to perform.
"I just want it to be a friendly, safe - that's the most important thing - environment.
"I want to basically clean it up.
"What we're trying to do is create a happy, safe environment for people to come and enjoy, have a drink or two, get up and have a boogie to the music and just relax like it's their lounge room.
"That's what I wanted to create."
As for the future of The Willows and things to come, Mr Schultz said he's not done with the makeover just yet, but one thing is for sure - he's not going anywhere.
"It's been . . . great. I love the place."
