Jul 17th, 2021
In this episode, we have Tim Ligon, Partner with SeatonHill, a national outsourced CFO company. Tim has vast experience as CFO for national restaurant franchise brands. Tim's experience is the backdrop for his recommendations on how to prepare for the rising wages and costs in the industry. Tune in for tips about restaurant management.
Tim Ligon of SeatonHill on Answers That Count with Charles Musgrove. Covering the commission model that is proving valuable to restaurants and servers.
C: Hello! I am Charles Musgrove, host of the Answers That Count podcast. Thank you for joining us for another exciting show. Do me a favor before we get started, hit the subscribe button. Hit the like button because you know you’re going to love this podcast. It’s going to be a great podcast! We have some great content coming to you today. We have Tim LIgon with Seaton Hill. Tim, welcome to the show today. T: Good afternoon, how are you? C: I’m doing great. This is going to be a good show today. We’re going to talk about accounting, financial statements, and really we’re going to bring this to real life, real world current economic conditions. We’re going to talk about the minimum wage increase that we’re seeing across many of the states in the United States. We’re going to talk about inflationary costs that these restaurants are going through and really what the options are that the restaurant owner has to manage these costs increases over the long term. So, Tim this is going to be a great show, buckle up. Before we get started, I wanted to give a special shout out to Seaton Hill. So I know that is the company you’ve partnered with and John if you could put up that I want to read just a little bit of information about Seaton Hill to give them special props for today. Seaton Hill Partners, they are the fastest growing strategic CFO service firm in the nation. Can you believe that? Tim, you joined a big firm there. For more than a decade our client’s success is our mission at Seaton Hill. Seaton Hill Partners deliver the finance and operations expertise only a team of veteran business finance executives can bring. We position our clients for sustained long term growth and success in today’s complex business environment, experience matters. You want to call them for a no cost consultation (850) 524-0211 or check them out on seatonhil.com. So, Tim, you’ve joined up with a great company there at Seaton Hill. You bring with you a great amount of restaurant experience. Now I know you weren’t in the back kitchen flipping hamburgers and making salads and doing all that stuff. You were the financial guy so you were shoulder to shoulder with the owners of these large restaurant groups so you weren’t just the accountant or bean counter for one restaurant, you were part of a large organization. So tell us a little bit about the positions and experience you’ve had working with restaurants.