The Chateau on The Lake owner Buddy Foy Jr. discusses how small business and restaurants are struggling to hire employees in an inflationary climate on ‘Fox Business Tonight.’
Subscribe to Fox Business! https://bit.ly/2D9Cdse
Watch more Fox Business Video: https://video.foxbusiness.com
Watch Fox Business Network Live: http://www.foxnewsgo.com/
FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.
Follow Fox Business on Facebook: https://www.facebook.com/FoxBusiness
Follow Fox Business on Twitter: https://twitter.com/foxbusiness
Follow Fox Business on Instagram: https://www.instagram.com/foxbusiness
source
Another business owner that is going to be out of business within a year… Also, has anyone noticed that the food portions wouldn't feed a gnat?!
When it comes to the world of investing,most people don't know where to start. Fortunately, great investors of the past and present can provide us with guidance.
A lot of restaurants cannot keep staff as A direct result of their customers. Do you like doing your job and not getting paid all while kicking 3-6% of sales "Back to the House" to pay for mostly useless bussers, A bartender who will always tend to thier's first and A hostess who NEVER should have gotten A single dime out of A server's pocket????
if you want people to go back to work how about you pay them a livable wage. pretty simple. you get what you pay for. you pay your servers shitty you’re going to have long wait times
Stop talking about the recession, we've been there for quite awhile!!!
This Rosebud. Voted for Biden and now cries.
Get out of the Business now. They Broke the system and from day to day we don't know the prices or supply. It's over, Just admit it
People should learn how to do some basic cooking. Restaurants are places men take women and hope to get layed. And now they only take credit cards so they add additional charges without you knowing. People that take a plate from the kitchen to a table making $15-18 an hour do not need a tip for that.
The intentional browning of America will replace most black and white workers. Stop complaining, get a job, do your job well and excel/accel. 🙏
Bidenrecession is here and Bidenhyperinflation is on the way. Elections have consequences !
This is going to be a long term problem.. if the dummyratz just let trumpisuzm run its course America would have been better positioned to handle these issues.. but NNNOOO. It was more important to rig an election and crash an economy so they could retain power . But the outcome is completely the opposite of what was planned. ..
How many wish the whole country could be Florida?
"We might be at a negative inflection point…"
Um… that point was in 2OO9. Welcome to reality, Boomers. Let me show you around…
I read about a man in his 50s that started investing in stocks and real estate, then retired in 2years with over $6million, that right there is my utmost goal and I'd really appreciate clues and tips on how to reach this goal within 5years
Shops in my area are cutting shifts and closing weekends because they don't have employees
Owners are going to hear from me if they don’t fix their PoS systems from suggesting ridiculous tips. If I order at a counter, I’m tipping 10% or so. Full service at full price is about 20%. I’m tired of the systems suggesting nothing less than a 20% tip when I didn’t get full or good service.
BTW, I’ve done just about every job in the restaurant industry. I know what waiters should be getting tipped, and it’s not $10 per person for mediocre meal service with a disinterested attitude.
I lost my career in the hospitality industry b/c of NY's vaccine policy. After so many years of serving as an ambassador of my city, my liberties we're stripped & I was denied accommodation. I had no choice but to move to D.R. where my religious beliefs are honored & respected.
Man made shortage .and low wages
After so many happy years in the hotel industry I lost my career when I was stripped of my liberties b/c of this treacherous vaccine policy. It's very sad. I had to leave the USA and move to the Dominican Republic to seek a double citizenship so I can work here, where they respect my religious beliefs. I'm very saddened.
Hey buddy
Your problems are because your restaurant is in NY (lawless CRAP HOLE)
Sell it and get out of that hell hole
I would say before it’s too late
But it’s too late
Nobody is gonna mention,, that there's more busboy's crossing the border than ever before ,,and you guys have no restaurant help?
How? Fire government employees and vote out the Democrats
And now the democrats want to raise taxes on small businesses.
The people maybe sick and tired of being wage slaves in a system that only makes their lives harder and more expensive to survive?
Small Business at $100.00 a plate?
The last 2 states I will not go and visit are New York and California. The problems these 2 states continue to have is because they will not look at the candidates thay may SERVE the residents the best. The wonderful thing about an independent is you actually can be objective on who is the best person for the job. You do not serve the government, they serve you, thats why they are called public servants. Think about that for a moment.
There 's a workforce trying to come from Mexico but we're turning them away and then complaining about a lack of workers in the food industry. Okay everyone screams drugs and criminals. Well take a big gulp from your coffee cup and stroll through our homeless camps made up of the same but probably worse drugs and crime. One difference is the workforce from Mexico wants to work and our homeless camps don't.
Thank the Democrats for all that is going wrong!! They are responsible and they are proud of it.
I have no pity for many of these restaurant owners. Even today, there are many franchise owners that still have their lobby's closed, drive thru only, thus greatly reducing overhead and then raising prices. They all have signs on the door claiming staffing issues. Here is the kicker that calls BS on their sign: what you will not find is "Help Wanted" signs, no Craigslist posting for "Now Hiring", or any attempt to solve this 'staff shortage'. We have owners lying to their customers and gauging them for all they can get out of their wallets.
You guys haven't noticed Walmart remodeling stores with wider aisles and fewer shelves in the rows to hide the cut back inventory, have you? Or that the stores are replacing the checkouts with 100% self checks.
20$ for a coffee cup?????
everything wrong with the economy started on Bidens first day in office when he killed our energy independence, OPEC saw the door swing open to get rich while they can. any fool could have saw this coming.
This is only the beginning…….of the end.
To restaurant owners you showed that those jobs are desposable and you can't trust those jobs so the only employees you can get are inexperienced and if anyone complaining. Tell them to do it
Everything is expensive, including going to work
Hopefully china goes bankrupt
china is garbage
To hell with china
Who cares about china
Stop all manufacturing and production in china
Another issue retail and food service is facing is that the prolonged period we were not allowed to go to stores or restaurants caused people to find alternatives. Obviously more people shop online. As my son said "I didn't know I buy candy online". A lot of people were forced to shop online and found out…"Hmm, this isn't so bad"
My wife and I used to enjoy going to restaurants 2-3 times a month (probably more like once/week if TBH) When we were forced to stay home, I bought an offset smoker and set up an outdoor cooking area. I think we have been to restaurants 2 times since they have re-opened in summer, 2020. For less than 1/3 the price we can grill steaks and shrimp, smoke brisket, chicken and ribs and have great meals at home!
Look, the same thing has happened with at home working. The commercial real estate market is also hit hard.
Adapt. And any business that stays in high tax, oppressive states like NY gets what they deserve. GTFO!!!!!!!!
I make 15 dollars per hour at mc d's. Why? Because they want to keep me.
From what Ive seen, service quality is down, so I tip less. Prices are higher so I spend less. Duh. When they suppy better and serve better their business will pick up.
I think if you're grossing over $7 million dollars a year you're not classified as a small business anymore
MY FINANCIAL GOAL IS TO BE MAKING AT LEAST UP TO $1,000,000 EVERY YEAR BY INVESTING HEAVILY BOTH IN CRYPTO AND STOCK. I NEED GUIDIANCE. please comment below….
Forcing… higher work Labor needed…
30-50 Year Old Workers…
Higher engineerjng and metal shops in forming work..
TesLa and Bezo rocketships..
Higher… work force
Wasting food industry… slowndown.. the cow slaughter
Grow catrle farms and grass hills.
No restruants and 30 year olds dating dinner….
If no one wages grow…
And even worst… dont xharge groceries… then they todally cant eat weekly..
Under 40 hr work week…
Restruants are 2ndary…
Worker wage… has to be higher than minimum rent wages… savings…
Inorder.. for people to dine outward…