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The Café Meteor Bistro: Manage or Sell?
Café Meteor Bistro was a newly opened bistro-style restaurant in Haileybury, Ontario. The owners of a nearby lodging business for up to 60 guests had developed Café Meteor Bistro to serve the local market, tourists, and their guests. In January 2019, the owners were each working 80 hours per week, and although their first year of operation had seen sales grow, they were behind their projections and not yet breaking even. Understanding that the situation was not sustainable, they were considering options. Should they sell the restaurant or hire an operations manager? If they planned to sell, they needed to come up with a valuation.