48: Shuttered, But Still Writing Checks to 100+ Employees: the View from the #1 College Bar with Bret Oliverio

BiggerPockets Business Podcast

BiggerPockets

Business, Careers

4.8 • 696 Ratings

🗓️ 24 March 2020

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's episode -- a "bad business decision" that simply had to be made... and a microcosm of what's happening to small businesses across the country right now. Bret Oliverio—owner of Sup Dogs, voted the #1 college bar in the country in a Barstool Sports poll, had a bittersweet start in the restaurant business, committed to carrying on his brother’s legacy. With absolutely no experience in the space, he and his wife worked tirelessly to build a thriving business employing 120 people, encompassing two locations, and generating millions in annual revenue. Leading into the busiest season of the year, Sup Dogs was thriving. And it continued to thrive leading right up into St. Patrick’s Day weekend. Then the coronavirus health crisis hit... and although it was a tough decision from a business standpoint, Bret was proactive in closing his two locations, using his influence in the community to encourage college students to stay put -- all while providing paychecks for his large team. It hasn’t been easy, but he’s doing everything he can to maintain relationships, continue building his brand, and encourage others that with each passing day, we’re one day closer to this crisis ending. Make sure you listen to the end, when Bret shares hope and optimism around the opportunities that these difficult times will inevitably bring. In this very raw, real episode, he shares what we as family members, as business owners, as community leaders, need to be doing right now as we make our way day to day and look toward the future. In This Episode We Cover: How Bret started to operate a restaurant business with zero knowledge How asking dumb questions made him better in his business How to separate your brand from other businesses How the COVID-19 pandemic has affected their business How they're managing closing for two weeks How putting aside ego can help you make ends meet And SO much more! Links from the Show BiggerPockets Check the full show notes here: https://www.biggerpockets.com/bizshow48 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Vanta.
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1:05.4	Look, the right thing to do is to fully shut down both restaurants and we're going to shut
1:09.5	down for two weeks. We're going to pay our staff 100% in its entirety.
1:13.5	It includes servers, bus guys, cooks, managers, everyone, 100%, and then we'll reevaluate after
1:18.8	two weeks.
1:23.1	Welcome to a real world MBA from the School of Hard Knocks, where entrepreneurs reveal what
1:28.3	it really takes to make it.
1:30.2	Whether you're already in business or you're on your way there, this show is for you.
	...

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