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CFO999

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  1. CFO999

    Rethinking tipping culture

    Given the cuurent state of affairs and all the proposed labor regs...........all of the following will need to be given some new thought 1. NO TIPPING/SERVICE INCLUDED 2. NO HOURLY EMPLOYEES 3. REVENUE SHARING 4. FULL HEALTHCARE BENEFITS 5. AUTOMATION 6. NEW FINANCIAL MODEL 7. STANDARDIZED LABOR STRUCTURES
  2. Bottom line here is the industry will need to rethink the old financial models they are using and start to think out of the traditional box Analyst predict a 20-25% reduction of all restaurant units over the next 18 months..........if you have not redone your financial model, you may become a statistic
  3. Glad to see it only took abusive goverment regulations and 20 yrs for the industry to use my financial model developed in 1997,....... but never accepted
  4. CFO999

    Secrets of a Restaurant Chef

    Annie costs less.............bottom line
  5. CFO999

    Matsugen

    He says he spent several years luring them here, so that doesn't seem quite fair. ← What would you like him to say? He has been paying rent on the space for over a year and I needed an out ← The failure of 66 doesn't make his other statement false. Anyhow, the plan for this space was well known a long time ago, so it's not as if it was a quick bail-out. ← Let's not forget they backed out once before. Finding someone to take over a lease of a failed restaurant concept is hard enough. Finding someone to take that lease on with this poor location is even harder. (lanlord appovals) Most people wait years to find a replacement. As I said, Good business move...................but don't let the smoke and mirrors fool you. Have you ever heard a great chef call himself "useless"
  6. It's not the restaurant's fault that so many people want to dine there.True, they don't give you someone to talk to. But you also never get a busy signal or wait on hold, as you do at any other comparably busy place—the early days of Per Se come to mind, and that's but one example. ← Supply and demand comes to mind. If you stop calling................they will change their reservation process to something less frustrating How about extending the length window to make a resy
  7. CFO999

    Matsugen

    He says he spent several years luring them here, so that doesn't seem quite fair. ← What would you like him to say? He has been paying rent on the space for over a year and I needed an out
  8. Is any restaurant worth all this trouble? What ever happened to hospitality
  9. CFO999

    Matsugen

    This is strictly a Matsu brothers venue. http://newyork.metromix.com/restaurants/ar.../463378/content JGV just dumped the lease and provides the press. Good business move, but I don't think he had a choice
  10. CFO999

    Shorty's.32

    Given that it's Josh Eden, (ex JG) you may have no choice
  11. CFO999

    Labor Question?

    What should it be Tell me the restaurant type and ratio you have in your workplace How much for the FOH........BOH?
  12. Hey Spike It doesn't matter what side of the pond you are on. I have walked into a dining room with 300 strong, giving the impression that all is well...........until you look at the books and find out the real story. (London) By nature, the restaurant industry is a labor intensive,operations centric machine. Most management teams when asked will constantly talk about a lack of skilled workers, long hours, and rising costs. Add to that one very important fact........Most restaurantuers are not trained. Revenue alone does not equal success.
  13. Well said Townsend The real question here should be, WHY? Is it time to change the traditional restaurant model. By the way! The real reason there are no 4-star public restaurants is that the present management at these culinary temples are not structured to answer to shareholder pressure or be proactive to revenue shifts and changes in the public eye. You are correct.......first the service goes, then the product, then the management.
  14. The amazing mis-management outways most rates of return expected on a typical restaurant model. If you were given the opportunity to see the lack of controls and lack of depth in most managemnt teams, you would clearly understand why Wall Street has traditionally converted restaurant investment into a real estate model. Ask yourself a question. Why is there no 4-star public restaurant companies? The delicate balance may be best described as "How much do they leave on the table"........In most of my experience as much as 10% is wasted or ignored though lack of knowledge or resources.
  15. Gentlemen, All of the above named establishment are making their fare share of profitabilty. Some better than others......if you call 7% a return
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