Quote:
Originally Posted by GBGX2
Baygo is correct about the "Expanded Unemployment Benefits"...
https://www.unionleader.com/news/hea...37f61d9e8.html
I would point out, however, that the maximum benefit is $427 a week or +/-$,1800.00 a month or $21,600.00 a year. This is hardly an amount that would give anyone a sense of wellbeing.
I would also say that Baygo is extremely fortunate to only have fixed expenses of $75.00 a day or $2,325.00 per month. Most leasehold restaurants have annual rents that average 6% of gross sales, along with utilities, insurance, labor, etc. Owners that own their own buildings have mortgages, property taxes, along with the other expenses above (and more).
I believe that owners who are opting to do takeout/delivery are doing so because they feel they have no choice other than to try anything to generate revenue.
I get flattening the curve, but until the State closes it all, I will continue to do what I can to support the local restaurants... |
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 most difficult about this for me is the social distancing. I just love people so much. I’ll come back and add later via edit.