Did you know… 22 million people watched Pharoah win the Triple Crown last year? Sadly, there’s no chance those numbers are repeated this year because Nyquist has been scratched. Therefore, the Belmont doesn’t even get the benefit of a rubber match with Exaggerator. Looks like Saturday afternoon won’t get a boost next week.
Since 2004, the annual overtime threshold had remained at a constant $23,660, but that's all about to change in December 2016. The US Department of Labor handed down new rules that will make more than a third of full-time salaried employees eligible for overtime. And the National Retail Federation estimates the changes will cost retail and restaurants $745 million to comply.
Not sure how the rules will affect you and your staff? No worries. Here’s a simple to understand overview of what you need to know -- in under a minute.
LOLZ (Sponsored by Main Street Hub)
Why it’s important to you: Why did the restaurant cross the road? Because humor works!
When posting on social media, feel free to use humor to make your audience smile and keep your content fresh. By injecting wit and personality into your posts, you can succeed in naturally connecting people to your brand.
SWERVING LIKE GEORGE JONES [Song]
Why it’s important to you: When major brands experience instability, it’s not good for you.
As if Budweiser wasn’t big enough, they merged with InBev in 2008. Well the next move comes as Anheuser-Busch InBev finally gets European regulatory approval from the September 2015 bid to buy SABMiller (owners of Miller and Coors to name a few brands). The caveat is that they have to shed most of their European brands. They are still awaiting approval in the US and other countries, as they sell other brands around the world to meet competition concerns.
The major brewers have been pulling back from their on-premise marketing efforts for years now and this major shake-up won’t stop that trend. As they consolidate, they will need less support from you to grow their brands. It’s just another reason you have to be ready to ask for their help at the local wholesaler level and not wait for them to give you value. Given that your local guy is essentially order taking and profiting from your business, don’t be bashful. Demand their support, because the brewery is unlikely to provide anything meaningful on-premise any more.
IF YOU BUILD IT, THEY WILL COME
Why it’s important to you: Because it’s the Super Bowl, duh!
In a continuing trend of rewarding new stadium construction, the NFL announced three more Super Bowl cities, Atlanta (2019), Miami (2020) and Los Angeles (2021). All three cities will boast brand new or “reborn” stadiums for the event, with LA’s not even under construction yet. The NFL is looking to reward team owners and local communities willing to invest in new stadiums with the nation’s premier single-day event.
The part that may concern you is how all this stadium construction is being financed. In Atlanta, for example, they will use an enhanced motel-hotel tax. In Miami, the city has agreed to pay the team owners bonuses if they secure marquis events (upwards of $4M). In LA, owner Stan Kroenke’s is privately financing the estimated $2.66B price for construction. These examples show the various ways local economies do (and don’t) finance new stadium initiatives. It’s a far cry from the last 20 years of publicly financed stadiums and means you can enjoy the Super Bowl if it comes to your community and not worry about how you are going to pay for it.
WHICH CAME FIRST
Why it’s important to you: Costco thinks organic is important, maybe you should too
Did you know that Costco sells a higher volume of organic products than Whole Foods? If you did, then you won’t be surprised to hear that their executives are investing in an all-organic quick service fried chicken restaurant concept called The Organic Coup. Currently, they are in two locations in the San Francisco Bay Area, but are expect to grow rapidly over the next year. The concept was founded by two Costco veterans and financed by its founder, Jim Sinegal and CFO, Richard Galanti.
So, should you follow suit? Maybe add one or two all-organic items to your menu. While doing new things is always a risk, with organic you have to be even more thoughtful. If you advertise something as organic, you must be very specific what ingredients are certified. However, it can’t hurt to try it as a special or feature. If Costco is this committed, then you know that the market as a whole is ready.
GET ME THE PRESIDENT
Why it’s important to you: When the restaurant elite dine with the political elite, we all win
If you had the chance to have dinner with the President of the United States, what would you expect the bill to total? If you are Anthony Bourdain, $6 bucks ought to cover it. The Parts Unknown host took the POTUS to an authentic Vietnamese restaurant where they dined on a bun Cha meal complete with beer. The President doesn’t carry money, so Bourdain picked up the check.
Can you imagine either of these men dining in a restaurant in the western hemisphere and going THAT unnoticed?