Restaurant Unstoppable with Eric Cacciatore

Find out more about Doug Mullins here.

Key takeaways

  1. Ouita Michel Restaurants operates 10 restaurants; 5 are currently closed - 150 employees are on leave
  2. The real issue is tipped employees
  3. They have set up a fund for tipped employees filled by donations from the community
  4. Taking this time to deep-clean the closed restaurants as if they are closing for a season; will be like new when reopened
  5. Donating food they cannot use to local food pantries
  6. Open restaurants are preparing free family meals for employees who cannot work
  7. Usually, these events cause us to want to be there for each other but in this case, that is the worst idea, what else can we do?
  8. One of the lessons: always have savings for situations like this
  9. Employees AND many restauranteurs are paycheck-to-paycheck, two bad weeks can bury us - why is that?
  10. What to do to generate cash flow for this specific situation
  11. Be flexible whether you're staff or an operator
Direct download: 9COVID19Doug_Mullins3_mixdown.mp3
Category:general -- posted at: 3:39pm EDT

Find out more about Eric Cacciatore here.

Key takeaways

  • Extend the runway, stop the money-loss
  • Amend and revise your insurance plan
  • Get in touch with your broker
  • Have your broker work for you to get the best outcome
  • Develop a new plan for the future
  • Document EVERY loss during this time
Direct download: 8COVID19_Eric_Solo_mixdown.mp3
Category:general -- posted at: 3:26pm EDT


Find out more about Aaron Colby here.

Key takeaways

  1. Employee attorneys and what we need now
  2. What are restaurant lawyers dealing with now?
  3. The differences between laid-off, unpaid leave (furloughed), unemployment
  4. What is the WARN act?
  5. Restaurants want to retain their staff but these are hard decisions to make
  6. You can run into problems based on who you decide to furlough vs. lay off
  7. Reduced compensation - cannot go below the minimum wage
  8. Sick-leave due to COVID-19

Resources mentioned in this Chronicle:

  • Learn about the WARN Act here
Direct download: 7COVID19_Aaron_Colby_mixdown.mp3
Category:general -- posted at: 9:57am EDT


Find more about Paul Callahan here.

Key takeaways

  • Plan for worst-case scenario
  • Coronavirus creating opportunity in the industry?
  • Will it disrupt Paul’s future opening of his farm
  • How are farmers affected?
  • How are farmers markets and pop ups affected?
Direct download: 6COVID19_Paul_Callahan_mixdown.mp3
Category:general -- posted at: 10:58pm EDT