Planning for the New Minimum Wage
This article was worth the read and it may help you plan for the increase in hourly wage.
To Your Success,
Michael Carro
Getting a Loan When You Lease Your Restaurant
Today Michael is joined by Alan Nickelsen, Executive VP and Commercial Banking Manager of Synovus Bank in Pensacola, FL.
Alan shares the challenges that restaurants face to receive loans for building out and purchasing equipment for spaces that they lease. He shares which loans typically work for this type of restaurant owner, and what you can expect during the loan application process.
Episode Highlights:
SBA loans are government-backed loans that can help restaurant owners who lease their restaurant spaces and need funding for equipment or building out their restaurant.
Atmosphere Lighting for Your Restaurant
Choosing the right lighting solutions in your restaurant can make all the difference in your customers’ experience, and is often an after thought when choosing or moving into a restaurant space.
Lighting Expert, Will Shaw of Integrated Surroundings jumps into this episode of The Restaurant Realty in 10 to share his insight on using lighting to create the perfect atmosphere in your restaurant.
The Challenge of Getting Restaurant Workers to Come Back
Fear of COVID-19 and the pull of enhanced unemployment benefits is keeping employees off the job, but that may not be enough to turn down work
As restaurants gradually reopen for greater levels of dine-in service, employers are faced with the challenge of convincing their workers to come back.
100,000 Restaurant Closures Expected in 2020
As challenging as the past six, COVID-saddled months have been for restaurants, operators don’t expect a near-term reprieve. A majority are still struggling and don’t believe their standing will improve over the next six months, according to a survey released Monday by the National Restaurant Association.
It found nearly one in six restaurants, representing close to 100,000 units, are closed either permanently or long-term. Close to 3 million employees are still out of work. And the Association’s previous target of $240 billion in sales lost by year’s end doesn’t appear to be an overshoot.
A CheckList for Safely Reopening Restaurants
These have been unprecedented times in the restaurant industry. Closing restaurants, adapting service models, and now finding ways to reopen restaurants safely. I found a lot of great information to guide restaurant operators through the reopening of their restaurant in this article and thought you might be interested. Stay healthy.
How to Close a Restaurant
Closing a restaurant is not an easy decision. Here are steps you should take to make the process as simple as possible.
When and How to Tell Your Staff That The Restaurant Is Closing
How to Handle Subscriptions and Vendor Contracts
How to Properly Shut Down the Building to Avoid Damage
Improve Your Restaurant Labor Schedule
In today's episode of The Restaurant Realty in 10 our host, Michael Carro has Greg Hazard back to discuss how you can optimize labor scheduling at your restaurant. Greg has over 30 years of experience streamlining restaurant expenses to capitalize on all opportunities to improve profit margins. Today he shares his tips for ensuring you have all hands on deck when you need it most, and how employee training time can impact a restaurant budget in unexpected ways.
Episode Highlights
4 key areas where you can control labor costs:
Sales per Labor Hour
$50/hour average daily is a sweet spot for many restaurants.
Scheduling
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Creating a Food Hall
100's of food halls are being developed across the United States right now.It may leave you asking if a food hall would make sense within your development?Or how could you maximize your unique site to serve multiple restaurant operators?
Installing a Hood System in Your Restaurant
How much does adding a hood system to a restaurant kitchen cost? How does a hood system function? What type of upkeep should you plan on to properly maintain a restaurant hood system...and avoid a fire hazard?
Basics of Investing in Income Producing Properties
Purchasing the best income-producing property for you depends on many personal factors, like risk preference and desired ROI.
In today's episode of The Restaurant Realty in 10 host, Michael Carro, walks you through the basic principals and considerations of purchasing a property with a lease(s) in place.
These Triple Net (NNN) or Cap Rate Investments are one of the ways you can use commercial real estate to build personal wealth.
How to Balance Audio Within a Restaurant
Avoiding Loud Restaurants, Sound Absorption vs Sound Masking, and Choosing the Right Music Source.
Find out:
How to Balance the Sound Floor of Your Restaurant
When is Pink Noise Effective
Why the Wrong Music Source Could Cost a Whole Lot More Than You May Think ($20,000 more in some cases!)