“Bar Rescue” host Jon Taffer would probably not open a new business in today’s challenging climate, but he is confident President Trump is turning things around.
The author, consultant, and host of the Spike TV’s reality series told Fox Business he was “not sure” he would open a bar today.
“It’s a very different world,” he said. “I got in the bar business in 1978 and owned my first one in 1989.”
Taffer noted that “back then music was different, the level of violence was different.”
“I mean people didn’t even lock their front doors,” he added. “Today, there is a whole separate consideration when you go into this business.”
Taffer explained that regulatory costs, as well as labor and food costs, are additional factors making it harder on business owners today.
“For people who really don’t understand the business, things like ObamaCare” made an impact, he said, noting that 40 percent of small businesses are owned by families, a number that has dropped from 62 percent in 2000.
The 62-year-old New Yorker pointed to a “small business crisis here in America,” noting how ObamaCare “adds a percentage to your payroll and it limits your ability to take care of your own employees.”
“Everybody thinks the bar business is so profitable, it’s not,” Taffer continued. “It’s not just the glass and the liquid, what about the insurance, the rent, the payroll, the liability, the office, the advertising, the phones, all the supplies. It’s a tough business.”
On the minimum wage struggle, Taffer wisely said, “education, effort, these things should matter in this country on how much money you make.”
Currently traveling on a 27-city tour around the country, Taffer senses a change in the wind.
“People got scared so they stopped for a few years,” he said. “Now as I travel around the country, and I think it’s because of Trump, people in the business community sense more opportunity.”
“They sense the taxes are going to be coming down. They sense that jobs are going to be created,” Taffer said. “It’s a more bullish time. So I’m starting to see a turn.”
— FOX Business (@FoxBusiness) July 1, 2017
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