Advice for Buying a Restaurant and Selling a Restaurant

Restaurant Broker Robin Gagnon Interviewed on TV46 Atlanta

Posted by Robin Gagnon on Jul 1, 2015 11:32:00 AM

Overtime wages are going up and Restaurant Broker Robin Gagnon was asked to comment on how that will affect the restaurant industry by Atlanta CBS Affiliate TV46.  She's not the only one weighing in on the story with the National Restaurant Assocation, the National Retail Federation and others making the same call.  

She told the reporter, "I thik it's unfortunate for the restaurant industry," said Robin Gagnon, the owner of Atlanta-based “We sell Restaurants. The second largest line item behind food costs is labor costs and that's going up. Then you have the customer who's going to get the push back, [so] the pricing is going to go up as other costs go up."  

President Obama wants 5 million more people to be eligible to get overtime pay for working more than 40 hours a week.He's planning to raise the overtime cap so a salaried employee earning less than $50,440 a year would be assured overtime if they work more than 40 hours per week.

The role of those who currently serve as managers will change since the federal government will define that a minimum of 50% of their time must go to supervision.  In the restaurant broker's opinion, customer service will go down.

"So a manager that might have gone out talking to a table saying, 'How are you doing tonight? Share with me about your experience,' they are going to have closely constricted responsibilities that they're no longer going to be able to do that," Gagnon said.

The White House says the proposed changes will be open for public comment and should be finalized sometime next year.

The full interview can be seen here. 

TV46

Topics: Buying a Restaurant