Home » Lifestyle » ‘Bar Rescue’ host Jon Taffer shares advice on starting a small business amid inflation and post-pandemic
‘Bar Rescue’ host Jon Taffer shares advice on starting a small business amid inflation and post-pandemic
‘Bar Rescue’ host Jon Taffer on spending money amid inflation
Jon Taffer talks about how consumers are spending in a post-pandemic world amid inflation.
Jon Taffer is a businessman — prepped and primed for the natural ebb and flow of the economy. However, like many, he couldn't have foreseen a two-plus-year pandemic that was catastrophic to establishments all over the country, especially the restaurant industry.
Taffer isn't fazed — and doesn't want small-business owners to be discouraged, either.
The "Bar Rescue" star spoke to FOX Business, where he explained his laid-back mindset amid the opening of his third Taffer’s Tavern franchise in a post-pandemic world.
"Starting a small business is more challenging than ever," he said. "We have labor issues, supply-side issues. The marketplace is very noisy with competitive marketing and promotional activity."
SMALL BUSINESSES FACING INFLATION HEADWINDS FIND NEW WAYS TO KEEP UP
"It's tough to build a brand today, in today's noisy world," Taffer added, noting that he believes "franchising is the best option for young entrepreneurs."
"You get supply-side through the franchise. You get all the operations systems and training and procedures. All the surprises are eliminated in a franchise… They can help you hedge your bet and mitigate your risk," he explained.
‘Bar Rescue’ host Jon Taffer on how small businesses can be successful
Jon Taffer shares business advice on making it in today’s economy.
Taffer also shared his advice for people who are looking to start a brand-new business today.
"I'm of the belief that any viable marketplace will find a business," he said. "But not any viable business will find a marketplace. That becomes a real issue. So you need to identify the marketplaces where you can grow, but understand there are people around America who want to buy franchises."
"There are companies around the country that want to sell franchises for you… Go online and search franchise sales," added Taffer, whose franchised-taverns are still its own separate entities.