Quote:
Originally Posted by Bigstan
At a 200k purchase price what in your wildest dreams would you envision revenues to be ? And then the bottom line ?
Divide that unattainable fantasy bottom line post-everything # by ten, add tips (again divided by ten) and you get what each persons time is worth.
If one person has a hard time making a restaurant work year round how could ten people recoup enough to make it worth their time ?
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I think one of the biggest reasons one person may struggle to make a living in a restaurant is because they have to pay the nine employees. Often those employees are overpaid and cause more damage to the restaurant with their mistakes or lack of concern for the guest experience.
What I envision is not ideal for someone who is relying on it to make a living. This is more of a concept to assist that individuals who dreams of being a restaurant owner during retirement. A point in life where their day-to-day expenses are already met by pension or other retirement income.
The many who pointed out the downsides of partnership are certainly on point. At the same time, the failure rate in the restaurant business is among the highest of any business. A retiree with no restaurant experience who takes their life savings and rolls the dice has a better chance of losing their life savings then living their dreams. This concept would allow that individual to hold onto your life savings but still play in the game.
It would be interesting to find a stat that compared the number of restaurants failures to the number of partnership failures.