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TrevorGilbert: 1 year ago

If you open a restaurant and own it, do you have to work there?

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Answer 1

SNA1846: 1 year ago via iPhone

You can hire people to do what ever you don't want to do. Plenty of famous celebrities own restaurants and I'm sure they don't do much except put their name on it.

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Answer 2

soccergirl_456: 1 year ago

Well yeah. Controlling finances and stuff.

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Answer 3

ChancesHottie: 1 year ago via iPhone

No, you don't have to actually work there.

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Answer 4

markmac60: 1 year ago via iPhone

No...but your income is different. If you own the business, but do not actually participate in the day-to-day operations, you're considered an 'investor' ... if you work, you should get 'paid' for your 'work' (@ market pay rate) then take 'profits' as an investor. Of course, it depends on how you set-up your restaurant (i.e. Sole Proprietor, Incorporate, LLC, etc.). If you're only the 'owner' you're really an 'investor' if you don't 'work'. Your income may be taxed differently depending on your set-up (incorporated, LLC, Sole Proprietor, etc). You should seek help from tax advisor or CPA.

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Answer 5

odog: 1 year ago

If it is successful and you can afford to hire people to look after it, then you don't have to work there. A friend of mine owns a restaurant. After 6 years it is now successful enough that he can afford to hire someone to run it.

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