Cost Increase For Cheekee Bar Being Discussed

Notes by Mike Shea, Townhouse Representative:

State of the Chickee Bar

According to the National Restaurant Association, from January 2020 through June 2024, the average food costs have increased by 29% while the labor costs have gone up 31%. After a review of the Chickee Bar historical costs, our costs have increased greater than the industry averages. Based on our operating results to date, our subsidized requirement for 2024 could be in excess of $600,00 while our budgeted subsidy is $366,000 or $1,000 per owner. Joe has put together a projected Profit and Loss for 2025. The projection indicated a loss or $713,681. At this point our subsidy for 2025 would be $1,949,94 per unit owner.

We have established a team whose members are Richard Hutner, Gary Leasor, Peter Lewis, Saurissha Maldonado, Frank Maranello, Jorge Salinger, Catherine Schwartz and Gary Swaye that have been reviewing the Chickee Bar issues for some time. They have made recommendations to implement some changes to the Chickee Bar. We will review these recommendations at the townhouse board meeting this week. I would welcome your inputs on these recommendations.