Quote:
Originally Posted by baygo
The payment does not have any withholding therefore the same as earning around a $26,000 annual salary. Agreed the benefit require frugal management. Let’s hope it’s just a brief period.
Yes, I am very fortunate to have very low fixed expenses in the Tavern. Do you remeber what I started with? It is by design. Restaurants operating with numbers in line with your statement need to generate much larger numbers to breakeven as well.
IMHO: converting from dine-in to take-out has challenges unbeknownst to most. I see it similar to starting all over again. Demand falls back into a guessing game. This is less of a challenge for those who serve from the back of a Sysco Truck because the frozen portions will hold longer. The challenge is for the “fresh, made from scratch” crowd.
Sorry. I had so much more to add to this however, a couple of folks just came in the driveway. Regulars who missed us. I have to go down to say hi. It’s obvious thing about this offer me is the social distancing. I just love people so much. I’ll come back and add later via edit.
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Baygo, I would say that what most tipped employees only and understandably care about is what they have in their pocket at the end of the night. Gross income is irrelevant to most. I would also point out that according to the article, the MAX is $427 while the average is $333.00.
https://www.rentjungle.com/average-r...h-rent-trends/ The average rent in Laconia for a 1 bedroom is $725.00. That does not include car payments, utilities, food, etc, etc, etc.
No matter how you calculate it, these hardworking folks are hurting and will continue to do so until this is over.
I would also agree that “takeout” is not a panacea to the restaurants who are doing it… it is their entrepreneurial spirit, in my opinion, that kicks in and fuels their desire to keep going. Most have not had the years of a successful operation that you have worked so hard to obtain. I think most restaurants are in the model that I described in my earlier post and have either substantial rent or mortgage payments along with the other usual fixed expenses. Many have only been in business for a few years or are a startup.
Baygo, I wish you well and join you in your hope that this is over quickly… I fear that it, unfortunately, will not be the case. Cheers.