More than almost any other sector, the restaurant industry is plagued with ever-changing issues concerning employee compensation, and yet this issue is one of the keys to a successful restaurant. So, it’s not surprising…
In a recent article in a Minneapolis newspaper, a reporter asked a long-time restaurateur who was closing his restaurant the reason he was doing so. The restaurateur responded it wasn’t from a lack of…
One thing I’ve seen over many years in the restaurant industry are concepts that never quite live up to their potential. Maybe it didn’t work from the beginning or stopped working over time. It…
Last month I suggested you should keep all your intellectual property (IP) in a separate entity. The primary reason is asset protection, but it also gives you flexibility as to taxable income as well…
One thing I’m frequently asked is “How do I structure my restaurant company?” Most people asking the question either already have multiple units or intend to follow a multi-unit growth plan. If your goal…
We’ve seen the cost of a new restaurant, whether it’s QSR, fast-causal or casual dining, go up dramatically. The price per square foot, along with start-up costs, require concepts to have high volumes or…
One of the biggest decisions you’ll make as a restaurant owner is your choice of a bank. I have touted the value of investors and equity for years, but, the real source of funding…
When I meet with a new client, I always ask, “What’s your exit strategy?” Usually, they’re focused on growing, and then will make a decision as to an exit later. Early in the growth…
Full disclosure: I’m not an employment lawyer. I’m a tax attorney and have worked with restaurants for 45 years. I’m also a restaurant owner and once took time off from practicing law to be…
