@@bjlfbs8506 no as a business owner, that makes full sense. If the profit of the business he owns 19% of bought other businesses, he owns 19% of them too. That's his money.
@@bjlfbs8506 He should be getting whatever percent of the profits (that were his) that were put into the other business. Ie, if 10k out of 100k of his profits were used, then he’d be due 10% of each Culver’s .
This guy does not know his head from his foot. I doubt he know how to read an income statement. The uncles are the brains behind this operation. He is lucky they invited him for the ride.
The Intarwebs are littered with nostalgic shrines to regional restaurant chains that have left nothing but advertising matchbooks and postcards on eBay. Let's see how they're doing 10 years from now.
Sounds like a Culvers franchise, he needs to go to the local community college or even online and take four or five business courses at night. He also needs to let his uncles know that long term say five to years he would like to eventually have a couple stores that are his thats the winning model he needs to make 💯 sure the location he runs is turning a good profit, sell his shares in the other stores and own his store or work with his uncles on the transition plan so when you are 50 you have a bigger stake or three or four stores of your own, just need a little knowledge, sounds like uncles got a booming operation, you definitely want to be part of it but you need to bring value, maybe even move up to managing a group of the stores. But sounds like you aren't sure how the operation even works and your uncle probably see that and think you aren't ready for more responsibility
It would benefit him to understand the P/L with the balance sheet. The CFO told him they were building retained earnings. Taking some core small business classes would help him greatly.
Another caller who doesn’t understand the problem and got into business with family without reading the operating agreement (at least this group has one lol).
Parents schools and other programs should teach finances to kids at a young age its unbelievable that at nearly 30 i first learned about 401K ira savings and compound interest i made really decent money from 21-28😅
@@Sam656TH Yeah I was weighing in before finishing the conversation. Would have been a good piece of information to lead with. This kids has no clue what is going on and I'm pretty certain he is getting ripped off.
I'm in Indiana and I swear every city is getting a Culver's if there isn't one there already. Wondered why they are popping up everywhere! Great restaurants! Good food! I just hope that Garrett will be getting his share of profits soon. 🙁
