We are a food and beverage management company. We develop and operate F+B outlets (bars, restaurants) for building owners, and we do so under hotel-like management agreements.
Our speciality is helping clients come up with unique solutions for their particular buildings. Need a healthy cafe? We can help you create that. What about a wine bar or an all-day breakfast place? We can do that too. We operate lots of different concepts, and we’re happy to share some of those concepts with you in case any fit your specific needs.
No. We are a management operation only. The client / landlord owns the restaurant -- the chairs, the kitchen equipment, the technology, the hamburger buns-- and STHRN manages the day to day operations on their behalf.
Fees will vary, but we structure our management deals as a 1) percent of revenues with a monthly minimum fee and 2) an incentive fee based on the goals outlined by clients early in the process.
Anything with food! Office building cafes, full service restaurants, bars, you name it. We have a couple of members clubs in pre-development, and of course we have a long history with food halls.
We manage some of the most iconic food halls in the country. For food hall owners we can oversee every aspect of daily management, from accounting and rent collection to events and leasing. We can also run the central bar or cafe (or any of the other food outlets as needed).
No there isn’t, but that said we are better equipped to run larger more complex operations.
This will depend on a few variables, but anywhere from six to eighteen months.
Your restaurant or bar will be organized as a single purpose LLC, owned wholly by STHRN Hospitality Co. Sales revenue will go to the LLC’s bank account, controlled by STHRN.
We report on a monthly basis, much like your property and asset managers do. Our books look a little different -- more Cost of Goods Sold and Labor and less Common Area Maintenance-- but every month you’ll get a solid snapshot of the sales, expenses and profits of the venture. Of course we prepare annual budgets for your review and approval as well.
No! All onsite personnel are employees of STHRN Hospitality Co. We pay their hourly wages or salaries, plus taxes and benefits. Those costs are P&L costs and are paid from the revenues of the restaurant.
We are southern and proud of it. We are headquartered in Atlanta with operations in Georgia, Virginia and Ohio. Current planned projects extend from Florida to Texas.
We are well aware of Bad Income (we even created a Bad Income cocktail once). Many of our clients are REITs, and we are comfortable working through whatever strategies your legal and tax teams feel necessary.
Currently almost 150, though by the time you read this that number has probably already grown.
Not only did we think that the landlord-tenant relationship in restaurants was troublesome, we thought that toxic ownership structures contributed to a lot of dissatisfaction in the hospitality industry. So we’ve set aside 25% of the company for employee ownership. When the landlord is also the operator and when the employees are also the boss, we think some good things can happen.
Each operation is a single asset entity. And while STHRN carries insurance for its executives, GL, workers comp and liquor liability (if applicable) will be carried by the asset LLC and the costs will be a part of the P&L.
