Restaurant owner explains how inflation causes him to charge almost $16 for a BLT: ‘It’s unbelievable’

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By journalsofus.com


Business


Inflation, which is a driving force behind many of the challenges facing businesses today, has led to rising costs leading to a restaurant owner charging approximately $16 for a BLT sandwich.

Brian Will, founder and CEO of Will Restaurants Investment Group, explained his monthly expenses during an appearance on “Varney & Company.” When a friend asked him about the price of a $16 BLT sandwich.

The wholesale cost of the popular sandwich is only $5, according to Will, but due to the need to cover operating expenses the meal that was $12.99 three years ago is $15.99 today.

Will detailed his monthly expenses, sharing information on the business side of running a restaurant and justifying the rising price of food.

Will spends $20,000 per month to rent the space in which one of his restaurants is in a “new mixed-use development”, arguing that it “costs too much” given the location.

,my utilities [are] $6,000 per month. I am due in December [was] $60,000, which means the day I open the doors on January 1st, I’ll have $86,000 of base cost,” Will explained.

Inflation, which is a driving force behind many of the challenges facing businesses today, has led to rising costs leading to a restaurant owner charging approximately $16 for a BLT sandwich. Google Map

“You estimate 32% food costs. That sandwich made me $11 gross profit. You take all my costs divided by $11 of gross profit, and I [have] To sell 93,000 sandwiches to get to zero before I can make any money,” he added.

Will Restaurants Investment Group was established in 2010.

The leading restaurant management company owns and operates brands such as Central City Tavern, The Tavern House, The Derby Sports Bar and Cantina Loca.

Brian Will, founder and CEO of Will Restaurants Investment Group, explained his monthly expenses during an appearance on “Varney & Company.” When a friend asked him about the price of a $16 BLT sandwich. fox business

Will told Fox Business that he is “dealing with a different economy now” than when he first signed the lease for the eatery’s space.

“We signed our lease pre-COVID with fixed increases every year. And I have a personal guarantee, so my rent is not going down. It’s going on forever every year,” he stressed.

The commercial real estate industry is struggling with rising interest rates and the impact of remote work.

Will detailed his monthly expenses, sharing information on the business side of running a restaurant and justifying the rising price of food. Central City Tavern

“My revenue per store has gone down by about $350,000, while my rent has gone up, labor has gone up 30%, insurance has gone up 40%, rent has gone up 10%,” the restaurant owner insisted.

,It’s unbelievable how much my costs have increased in the last three years.”





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https://nypost.com/2024/01/06/business/restaurant-owner-breaks-down-how-inflation-causes-hid-to-charge-nearly-16-for-blt-its-incredible/?utm_source =url_sitebuttons&utm_medium=site%20buttons&utm_campaign=site%20buttons

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