Rising costs for everything from food to labor, plus Covid-19 uncertainty, cloud the restaurant forecast.
“The bottom line in a good restaurant used to be 10 percent profit,” says David Burke, whose 14 restaurants include four in New Jersey (in Fort Lee, South Orange and two in Sea Bright). “It’s lower than that now. Think about all the risk that restaurateurs take, putting their hard work and money on the line, and then you’ve got jumpers [staff leaving for better pay] and bad weather, and then you’ve got a pandemic.”
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