After reading a story about a seasoned Bethesda, MD chef who decided to do something he had not done in his 14 years as a restaurateur: Make his top five longest-serving employees part-owners of his latest restaurant – we were intrigued.
Could this approach be the new wave of making restaurant concepts succeed beyond the current five-year average? It just might be.
Many restaurant brands talk about “ownership” and about their senior staff and employees being brand ambassadors. But this concept literally puts a personal stake in the success or failure of the business, with a percentage share of profits for team members willing to take on the challenge.
The notion of rewarding your most loyal of team members with a partnership agreement might be worth investigating as you look to the future and develop your restaurant’s business plan and evaluate its growth potential.
Visit VSAG Growth Management for more information on creating a personalized plan to grow your business or visit the National Restaurant Association or Restaurant Owner.com for related articles/topics.