Episode 96 – The Fair Wage War with Lisa and Patrick Balcom

Welcome to The Restaurant Coach Podcast. It is the cure for the common restaurant. Let me ask you a question…do you feel that tension in the air?

Maybe it’s just me or are we about to see a big economy shift? Some call it a recession some call it a downturn. Whatever you call it, I just want to remind you that it’s going to be okay. Now is the time you will want to get your plan together and tighten up a few things like your menu, marketing, and team.

I invite you to join me every Friday LIVE inside my private Facebook group called The Restaurant Coach Nation where I hold a weekly training to give you the tools you need to make more while working less IN your restaurant. Just follow the link in the show notes to join. It’s FREE to become a member and this is my way of helping 1 million independent restaurants break free from being average.

Speaking of average…did you know that the average restaurant has a turnover rate of around 73%. That’s not good when you consider that Cornell University states that the average cost of turnover is around $5,864.00 per employee! Turnover can bleed a restaurant out quietly and they rarely see it happening. So what are restaurants doing to fight back? Some are getting innovative and doing what’s know as a fare wage fee! This is a service fee added to the check that allows the restaurant to pay higher than normal wages. Some guests like the idea and of course some are against it. Today’s guests are very familiar with this debate so I invited them on the show to discuss and explain why this might be a good idea for some restaurants. Lisa and Patrick Balcom are the Chef/Owners of a restaurant in Colorado called Farow. Let’s jump into the conversation…

Show Links:

Book A Success Strategy Session

Take the FREE Profitability Quiz

Get Daily Text Tips To Make Your Restaurant Better

Join The Restaurant Coach Nation

Grab the Audio Books

Join Restaurant Masterminds