Help For Chef/GM Compensation Structure.

[vongehren]

My husband is Chef/owner of a restaurant which we plan to sell due to location (long story). A developer recently contacted my husband with a great opportunity. The developer is building a housing developement, a small business park and converting a nearby historic building into a restaurant. This developer has asked that my husband come in as general manager/executive chef of this restaurant and has asked him to submit a compensation package. As we bring no money to the table, we have no idea where to begin in seeking a reasonable compensation package. What would a salary be for a GM/exec.chef? What is industry standard for profit sharing? Is there a formula for 'sweat' equity? We have not seen final blueprints, we are assuming 100 seats with the following pricing;
Appetizers- $5.00 to $8.00
Soups- $4.00
Salads- $6.50 to $9.50, (appetizer salads excluded)
Sandwiches- $6.00 to $8.00
MAIN COURSES- $9.50 TO $15.50

Are there any websites that would be of help?

Any help would be greatly appreciated!!

[bbally]

Charles City VA? or IA?

Makes a difference

[vongehren]

VA

[firechef37]

Trust me there ain't any restaurants that would require anyone using the title Chef of any sort in Charles City, Iowa...been there...wouldn't even want to do that!

That place makes my neck of the woods look like major metropolis of sorts!

Good question though Bob!