Cut staff hours but keep the morale
If you need to cut costs, here’s some tips on how to break the bad news to the staff.
Richard Ryan, Barberitos Southwestern Grille and Cantina, Charleston
I own a small restaurant that grosses around half a million a year. I am going into my third year and I currently employ six people. Most of them live off this job. I am holding a meeting today to explain why everybody will have their hours cut in half. Any advice on how to do this without losing the good performance and enthusiasm of the staff?
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DiggWhen the lease outlives the business
After a business falters, its legal obligations live on – but your personal assets can be protected.
Dianne Fernanadez, Keva Juice, Vacaville, Calif.
My son and I opened a small smoothie business two years ago. We did great until the economy fell. We opened it under an LLC, and he has since bought me out. Now, he has to take money out of his personal account to support it every month. He just got a rent reduction of $600 a month, but that won’t be enough. He has it for sale and has a possible offer coming through. If that falls through he is planning to close the doors. He is afraid the landlord will go after his house. I have lost my home and have nothing left, so I’m not too worried about losing my property.
What is the best way to go about getting out of this? What kind of repercussions are we facing, as we still have three years on the lease? We spent $107,000 on the build-out (new tile floors, bathrooms, etc.) as it was a brand-new complex. The landlord inherits this – does this help? The business has no loans against it as we refinanced our homes and/or paid everything in cash. Please help! Read more…
$400k and a tropical dream
Our Caribbean experts weigh in on which island is best for an expat’s bar biz.
Edd, Philadelphia, Pa.
I’m interested in starting a bar or café somewhere in the Caribbean. I have around $400,000 in startup capital and 20 years of experience managing restaurants. I am trying to find the best and easiest island on which to start my business. Read more…
How can we balance life and work?
Experts share tips and tricks to prevent work from eating family time.
Claudino Petruccelli, Owner, Petruccelli Pasta, Ridgewood, N.J.
My wife and I are selling our food business. Although we’re exhausted emotionally and physically, we want to start another company – but not to the detriment of our three young children. How do successful owners manage their businesses without wrecking their home lives?
Costs soaring? Overhaul your business
Rising above higher commodity costs is challenging, but savvy owners can stay strong by adjusting to changing conditions.
Ahmad bin Saripan
I manage a food-processing business, and our sales are declining as costs and the price of raw materials escalate. How can I improve and grow the business? Read more…
Do I need a license for my business?
Brenda Zimmerman, Caldwell, West Va.
I am starting a very small home based business. I will be using downloaded images, photographs, etc., to make edible images for cakes. Do I need a business license?
Balancing a restaurant’s finances
Harold Baring, Los Angeles
What are the ideal ratios of restaurant operations?
Divorcing your business partner
If one partner wants out, the other has a fiduciary duty to negotiate an exit strategy that won’t damage the business.
Kath, Darwen, Utah
I am a partner in a restaurant and food-services business. I want to leave the business partnership, but my partner won’t buy me out. She says she’ll close the business and restart it, leaving me with nothing. I am only asking for the money I put in. Can she do this legally?
An expensive look for a low price
Joshua Smith, Lewisville, Texas
What are some of the standards for developing a high-price look in a small business restaurant?
Starting a business from behind bars
Ask FSB’s experts advise an inmate looking to launch a business upon his release.
Darren Montville, Collins Correctional Facility, Collins, N.Y.
I, along with my father, would like to open a restaurant and catering company. I was wondering if you could give me as much advice as possible about small businesses, restaurants, catering, etc. I have plenty of great ideas that I believe will bring me investors and customers, but I need information. I don’t want to fail at my business, and I’m eager to do well. Read more…
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