MARKETING: 5 Alternative Sports TV Content Sports Bars Should Show
Football. Basketball. Baseball. Hockey. Soccer. Every sports bar worth its salt shows these games. So how do you stand out? One way is showing off-beat sports. Here are some to keep an eye on and add to your schedule.
DID YOU KNOWS…
Over-saturation of the restaurant market is killing restaurant stocks, according to an NWI piece. Restaurant stocks, specifically, fast-casual and casual-dining, are underperforming thanks to a myriad of reasons – over-saturation being the biggest factor. Since 2010, the number of restaurants have grown 12%, while the population has grown just under 5%. For once, Millennials aren’t to blame.
Not a Black & White Issue
A Michigan restaurant has been under hot water for a photo at appeared to be racist. A diner took a photo of a photo (so meta) while at the restaurant of what looks like two employees in black face. The photo hanging in the restaurant was in black & white and, when seen in full color, is actually two people dressed as members of Blue Man Group – albeit poorly.
Bensimon Byrne, a Toronto ad agency, and Casey House, a Canadian HIV treatment center, teamed up to create a pop-up restaurant in Toronto staffed with HIV-positive chefs. The event went for $125 person and quickly sold out. The goal of the pop-up was to fight against the stigma that surrounds HIV-positive people.
A VERY TAXING EXPERIENCE
Why it matters to you: Will the proposed Republican tax bill help or hurt our industry?
A core argument, by the President and his party, why their tax plan will work is the simplification of the process. Their claim that you can now file your taxes on a post card sized form seems to resonate with some Americans. Unfortunately, that is where the clear value goes directly to murky. This chart shows the impact that the tax changes will have on various income levels.
At first glance a person earning $40,000/year will have essentially the same tax rate. However, that is dependent on how they earn and what deductions they have been taking. It does appear that multinational corporations will see significant reductions in their tax liability both for current income and revenue they will re-patriate.
The signs are far less clear for small & medium businesses (SMB) who employ almost half of all people in the United States. With pass-through rules changing, most SMB operators won’t get any advantage and their annual rate might actually go up. Even Fortune, a decidedly pro-business journal, isn’t offering a blanket approval of this new tax plan.
Its greatest flaw is the assumption that growth spurred by these tax cuts will make up for the $1.5 trillion 10 year deficit total it’s estimated to deliver. We strongly encourage you to contact your accountant for specific guidance so you can determine what this tax plan means for bot your business and personal taxes. Once you know, then you can support or oppose the tax plan as your analysis directs you.
Why it matters to you: Here are some things to consider before buying a restaurant.
So many of you aspire to own a restaurant someday. You work diligently as a manger, pay your dues to learn the biz, and then hope to strike out on your own. Our industry has fueled so many American Dreams and will continue to do so for as long as there are hungry people. When you are getting ready to pursue your dreams, it’s always good to have a guide.
Certainly, someone giving you thoughtful advice will review issues like decision to buy an existing operation or start one from scratch, as well as a hundred other important considerations. However, in the end, there are only three relevant considerations.
Location, Location, Location.
If you do not have a viable location with sufficient traffic, curb presence or exposure, you are done before you begin. Yes, it’s a cliché; no, it’s not inaccurate. As an operator for 20+ years, I can assure you 100% of my successes came from a location that was already a hit, and 100% of my failures can be traced to the struggles of not having sufficient traffic to develop an audience. If you do move forward and you aren’t sure the location is a winner, then wait, please.