what advice would you give her? Should she keep the restaurant or go back to her old job? Why?
Elaine had always wanted to operate a restaurant, so one day she took a leave of absence from her job, which pays $25,000 per year, and bought a restaurant for $100,000 in cash. At the end of the year, she had to decide whether to go back to her old job or to continue operating the restaurant, so she examined her revenues and expenses for the year. She found that her revenues were $185,000 and that her operating expenses were $68,000 for labor, $80,000 for food and supplies, and $12,000 for utilities, repairs and insurance. She also found that she can sell the restaurant back to the old owner for exactly what she paid for it. If she came to you, what advice would you give her? Should she keep the restaurant or go back to her old job? Why?
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what advice would you give her? Should she keep the restaurant or go back to her old job? Why?
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