“The restaurant business is not for the weak of mind or weak of money.” Love that quote. So many businesses fold because they’re not prepared financially. Anyway, another solid video Paul🫡 Thanks for sharing👊
awsome video! I love when people are open about the financials of business as I think that is what helps others learn. Understand what the numbers look like and have better expectations. Did you happen to know if that 15% profit was after he payed the royalty fee? Also is the store ran itself? Or he is working full time in the store, almost as a employee and making 15%. Sorry for the fuss, just helps me understand the restaurant biz better
@andresm1704 The 15% is a net net number, that would be the profit after all expenses including royalty fees. The royalty fee is the FIRST thing to come out! He has a general manager that oversees the day to day details, but he is pretty hands on. He comes in the store most mornings to make sure all is up and running and he likes to cook the bacon. This is a new operation, just a few months open, so I'm sure he will stay pretty hands on for a while. But over time he will loosen the reigns on this location as he expands with more locations. He also operates 4 Zaxby's Chicken restaurants in the area. Now let me ask you a question... how do you have 17.7K subscribers with no posted videos on your channel? Thanks for the comment!
@@therealpaulreiser Thank you so much for the detailed response. and about my channel lol, The first and also the last video I ever made was just a bunch of music put into a video that randomly went viral. And I guess 17k people decided to subscribe but I deleted that video since lol.
Thanks for checking out the video! It is a little more involved than a cold sub shop, and I am a big proponent of keeping things simple... but for them is is paying off. Considering the Average Sales for a Jersey Mike's is $1.4 Million compared to the average sales of a typical subway, $420,000... the addition of a grill is a small price to pay. It is still far more simple than a typical QSR which will also have fry vats and a variety of types of food, sides, and deserts to prepare, this is a pretty simple operation. In the video I spoke with Sally, she really did work for me as a manager at a Sonic location years ago. I asked her if the operations were more simple and she said, "OH YES, way simpler!" For example, placing a food order at a Sonic would take at least an hour, usually longer. There are so many sku's located all over the restaurant, but she said she just finished her food order when I get there and it too 15 minutes. Thanks for the comment!
