Running a Restaurant/Executive Chef

Advertisement


Question
Greetings Jeffrey,
 
I have five years experience owning and operating a medium sized restaurant.  Currently, I am pursuing another concept.  I have my business plan, concept, design, and branding complete.  I will be the owner and general manager and am searching for an executive chef/partner.
 
How do I determine the best compensation plan as I interview these potential hires? What is a competitive offering?

Thank you,

Answer
Several questions you have to ask yourself, your market and the candidates.

What type of compensation package would be competitive in your market for a comparable position? So you'll have to investigate what everyone else in the market is offering.
What type of package have they enjoyed in the past?
What type of package can you afford?
What type of split between base salary and bonus will you/they accept? More and more positions are relying less on base salary and more on bonusing based on performance.
Will they need to relocate for you? Is that part of their package?
Will they be under a contract, licensing or other agreement?
Will they be a capital partner or simply an operating partner? Will an investment in the business from them, be required?

Once you answer these, you'll be a lot further down the road.  

Running a Restaurant

All Answers


Answers by Expert:


Ask Experts

Volunteer


Jeffrey Summers

Expertise

I am the Founder & Owner of Summers Hospitality Group. We have over 300 years of successful experience in operating and consulting with chain, franchise and independent restaurant & hotel operators around the world. Check us out on the web for more information at http://SummersHospitality.Group or call us toll free at 888-998-8744.

Experience

We have experience on any topic related to the restaurant & hospitality industry - from Menu R&D, Menu Engineering, Marketing Strategies, New Store Openings, P&L Analysis, Lease Negotiations, Staffing, Policies & Procedures, Building & Design, Site Location, Branding, PR & Promotions, Multi-Unit Development, and any other area effecting the operation of your business.

Organizations
The National Restaurant Association. The Society of Hospitality Management. The Gerson Lehrman Leisure & Lodging Council The Professional Business Coaches Alliance The International Council on Hotel, Restaurant and Institutional Education Several state restaurant & hotel associations.

Publications
My articles and opinion pieces have been featured on several industry websites, magazines, blogs and forums including: Money Magazine Wall Street Journal USA Today RestaurantOwner.com RestaurantEdge.com FoodService.com Ezinearticles.com Restaurant Startup & Growth Magazine American Express' Briefing Newsletter Nation's Restaurant News and tons more!

Education/Credentials
I hold degrees in Economics, English, Culinary Arts and industry certifications in Hospitality Management and Restaurant & Catering Management.

Past/Present Clients
Here's a list of some of the brands we have worked with: Hardee's, Marriott, Hilton, Connie's Pizza, Burger King, Chili's, Long John Silver's, Bar Louie's, The Purple Sage Bistro, Applebee's, Shoney's, T.G.I. Friday's, La Dolce Vita Pastries & Catering, 5 Seasons Sports Clubs..and many more.

©2016 About.com. All rights reserved.