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ESOPs: A Savvy Ownership Transition Alternative for Restaurant Owners
The popularity of Employee Stock Ownership Plans (“ESOPs”) is skyrocketing. Owners of many types of businesses are discovering the unique business, tax, and employee benefits of transferring ownership to their employees through an ESOP. Despite the one-of-a-kind advantages of ESOPs, this trend has not yet penetrated the restaurant industry. We at GBQ foresee this changing, as we believe that ESOPs […]
Protect Your Restaurant From Fraud
“Restaurant Sustains Losses Due to Fraud” is a headline no one wants to be the subject of. Unfortunately, it is a concept we hear and read about in the news on a regular basis. What rarely gets published is which industries are more at risk. Without knowing about trends in a specific industry, it is easy to dismiss these fraud […]
Top 10 Restaurant Topics In 2023
Keeping up with the ever-changing business environment doesn’t have to be taxing! Check out the top 10 restaurant topics we’re keeping an eye on. Labor Shortage and Wage Increase: It is no secret that labor is the biggest challenge facing operators. Attracting and retaining talent will be critical for a successful year. Operators are challenging themselves to find creative […]
The Unspoken Truth On Succession Planning
The unspoken truth is that 100% of all privately-owned companies eventually change hands, including those in the restaurant industry. It is just a matter of how and when this happens. Successfully running a privately held company requires a tremendous amount of time, energy and focus, making succession planning a challenge and leaving one of the most important personal, family and […]
Are Your Social Media Accounts Working For—Or Against—You?
Social media is an essential tool for your business’s outreach, engagement and fundraising. But social media also poses a reputational threat if your organization doesn’t clearly communicate rules for its use and prepare for “emergencies.” If you haven’t already, it’s time to implement some best practices. Rules of the road The line between employees’ personal and work lives was already […]
Key Takeaways From RFDC 2021
The GBQ Restaurant Team had the pleasure of attending the Restaurant Finance and Development Conference from November 7th through November 10th in Las Vegas. We were thrilled to be able to attend the event once again after the year hiatus due to the COVID-19 pandemic and to once again connect with numerous operators and professional resources throughout the country. We […]