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#momimabartender#careerbartending #totc
SUSTAINING A CAREER IN
BARTENDINGScott Baird
Julie Reiner
Charlotte Voisey
Naomi Levy
Sponsored by:
On the way to discovering his cal l ing as a bartender, Bay Area native Scott Baird dabbled in other creative ventures—fl oral design, acting, and cooking, just to name a few. But after picking up a bar shift , Baird real ized his true passion lay behind the bar. He continued his mixology school ing at Cesar’s and Coco500 .In 2008, Baird partnered with the original owners of 15 Romolo to bring l i fe back to a dying bar. He soon met Josh Harris and the two revamped the Romolo menu, helping to earn i t a spot on Esquire’s 2010 “Best Bars in America” l ist . The duo also co-founded The Bon Vivants in 2009, a national ly recognized consult ing company through which they have created cocktai l programs for bars and restaurants on both coasts. In 2013, The Bon Vivants opened their highly anticipated bar, Trick Dog , in San Francisco. Scott is also the proud father of two.
SCOTT BAIRD
@bonvivants_sf
@scott_the_bon_vivants
Julie Reiner has been elevating the cocktail scene in NYC for fi fteen years, most notably with the opening of the Flatiron Lounge (2003), the Pegu Club (2005), Brooklyn’s Clover Club (2008), and her latest venture with Ivy Mix, Leyenda. All opened to rave reviews and have enjoyed a top ranking among the best bars in the world. In 2009, Clover Club was honored with the award for “Best New Cocktail Lounge in the World” at Tales of the Cocktail and in 2013,
JULIE REINER
took home the award for “Best American Cocktail Bar”, “Best High Volume Bar”, and Julie was personally awarded “Best Bar Mentor”. In 2011 she, was honored with a James Beard nomination for spirits professional of the year.
In May of this year, Julie published her first book, “The Craft Cocktail Party, Delicious Drinks for Every Occasion.” Julie is also proud mother to her 6-year-old daughter Maya with her wife and business partner Susan.
@mixtressnyc @mixtressnyc#thecraftcocktailparty
Host of The Proper Pour with Charlotte Voisey on www.smallscreennetwork.com, Charlotte’s recipes are widely publ ished and on menus and in magazines across the world including New York’s famed PDT, the iconic Dorchester Hotel in London and People Magazine. Charlotte Voisey has traveled the world but made her name at home in London. In 2002, with the Gorgeous Group, Charlotte opened classic cocktai l bar Apartment 195 and was soon named UK Bartender of the Year. In 2005 Charlotte was invited to guest bartend at the Aspen Food & Wine Classic and consequently fel l in love with the US cocktai l community, one year later Charlotte offi cial ly made the move stateside to represent her favorite spir i t , Hendrick’s Gin. Charlotte st i l l competes international ly and was named Mixologist of the Year 2011 for Wine Enthusiast Magazine.
CHARLOTTE VOISEY
@charlottevoiseyCharlotte Voisey
@charlottehdovoisey
NAOMI LEVYNaomi Levy is one of Boston’s most promising young bartenders. Starting at the age of 17, she was hooked by the pace and rhythm of restaurant service and drawn to the drama and challenges of the bar. Since starting at Eastern Standard in 2010, Naomi has worked her way up to be the 3rd ever bar manager of the now 10 year old landmark. Eastern Standard is widely regard as one of the premier cocktail bars in the country, with awards coming form many national publications as well as Tales of the Cocktail, where they won the Barroom Brawl in 2011 and Best High volume cocktail Bar in 2012. Naomi’s own accolades include being named one of Zagat’s 30 under 30 in 2014, as well as receiving the Star Chef’s Rising Star award in 2015 with a Community designation.She has also won her fair share of competitions including the Centennial Macchu Pisco Sour Boston in 2011, Boston Speed Rack in 2012 and going on to win two national competitions, the Barenjager national competition in 2013 and the Bacardi Legacy national competition, earning her a spot in Moscow at the 2014 Global competition.
naomi.levy.58 @naomilevy613
Sustainableadjective:able to be used without being completely used up or destroyed:able to last or continue for a long time
WHAT DOES IT MEAN TO HAVE A
SUSTAINABLE BARTENDING
CAREER?
“A sustainable career is dynamic and flexible; it features continuous learning, periodic renewal, the security that comes from employability, and a harmonious fit with your skills, interests, and values.”
-Harvard Business Review
1. Fitt ing your work together with the other things in your l i fe that are important to you
2. Achieving fi nancial security and a stable work environment
3. Bui lding a career path for yourself and for others
What are the challenges bartenders face if they decide to start a family?
How do you juggle a busy lifestyle with making time for friends and family?
How do you maintain a relationship while maintaining a hectic travel schedule?
How do you decompress?
What does a day off mean to you?
BUDGETING & SAVING
This is Sharon, a CFA
Ensure you have the money to
fund both short- and long-term expenditures,
like living expenses,
education loans, emergency
reserves, and retirement
Review your outstanding
debt and create a pay down plan,
starting with highest
interest rates first. Prepare for
changes in your life such as a
move, new job, income
fluctuations, buying property
or business investment.
Automate deposits, savings,
investing, and bill-paying
wherever possible.
IRAs401kCDs
SAVINGS
Solo401k
Traditional IRA
Roth IRA
Can Borrow
Pay Taxes at
Withdrawal
Can’t Borrow
Pay Taxes at
Withdrawal
Can’t Borrow
No Taxes at
Withdrawal
Defer up to $18,000 of
your pre-tax income in elective
contributions
Contribute up to $5,500 of your pre-tax income (total for all IRA accounts
owned)
Contribute up to $5,500 of your post-tax income (total for all IRA accounts
owned)
* IRA money can be used for first time home-buying and higher education expenses.
Hypothetical pre-tax growth of $5000 yearly IRA contributions: ages 25–70 and 35–70 By investing little by little over time, you benefit from the power of compounding. Look at how much more you can save by starting at 25 instead of 35. Regular investing through a workplace savings plan is a great way to save for retirement. And it’s so easy to start.
INVESTING SERVICES
Mint.com
• Summary:Expenses/activity tracking of all your accounts & debts; budget & goal setting.
• Account Types:Aggregate viewing of all your existing accounts
• Cost: Free
• Pros: Easy to link in accounts, categorize sending, set budgets, goals & set-up alerts
• Limitations: No advice or investment capabilities; purely view-only of existing accounts
• Others like it: Levelmoney Spendee Dolarbird
Betterment.com
• Summary: Automated investing service for all basic account types based on a simple investment questionnaire.
• Account Types: Individual/Joint, Trusts, Traditional IRA, Roth, 401k & 403b rollovers
• Account Minimums:None
• Fees: 0.35% for first $10,000 0.25%-$10,000-$100,0000.15%-$100,000+
• Pros: SIPC Insured; recommended asset allocations are regularly rebalanced
• Limitations: No personal, customized advice or planning
Investment Firm
• Summary:Brokerage firm, such as Schwab, Fidelity or Morgan Stanley, offering investment products & advice
• Acct Types: All• Account
Minimums:various
• Fees (typically):various account maintenance & commission fees, or asset-based tiered fees like wealth advisory firms
• Pros: vast investment options for greater portfolio diversification
• Limitations: be aware of fees & commission charges, and pushing only firm-based products
Wealth Advisory Firm
• Summary: A registered investment advisory firm providing comprehensive investment management & financial planning.
• Account Types: All
• Account Minimums (typically): $100,000 - $250,000
• Fees (typically): 1.25% first $1,000,000;0.95% next $4,000,000;0.6% next $5,000,000;0.4% over $10,000,000
• Pros: Comprehensive & holistic advice, access to planners & wealth mgmt team
• Limitations: Higher fee and account minimums
BUSINESS PLANNINGClearly outline your
business goals and the plan
on how to attain them-
saving, partnering
, structure, financing, loans, etc.
Obtain independent
legal advisement
on organization
al & partnerships
contracts.
Understand the liability
exposures & limits-
insurance, tax, personal & business. Build a reliable
team of a trusted attorney, tax accountant, financial advisor
& lending broker to
successfully navigate being a business owner.
What is an LLC?
A limited liability company, or LLC, is a business entity created under state law that combines characteristics of both a corporation and a partnership. Like a corporation, the owners of an LLC are generally not personally liable for company debts. Like a sole proprietorship or a partnership, an LLC has operating flexibility and is, by default, a "pass through" entity for tax purposes. This means that the LLC does not pay taxes on its profits, but instead, profits and losses are "passed through" to the owners, who must then pay tax on their share of LLC income.
What is a DBA?
DBA is an abbreviation for "doing business as.” If you're a sole proprietorship, you need a DBA to register your business name. Corporations and LLCs need a DBA if they use a different name than what's filed with the state. It allows one to open a business bank account and undertake transactions on behalf of the company
HealthDisabi l i tyAccident
INSURANCE
Health Insurance
Disability Insurance
Accident Insurance
Covers medical and surgical costs, subject
to a deductible and
copayments, which varies plan to plan.
Most include no cost
preventative services.
Prescription drug coverage
varies.
Covers income replacement up
to 70% of salary when
injured and ill and unable to
work for a time period over 7
days. Length of time covered varies plan to
plan. Generally only available
through workplace
payroll deduction.
Covers out-of-pocket
expenses that accrue due to
accidental injury including expenses that
may not be fully covered by
medical insurance (ie. Ambulance, Emergency
Room visits). Generally set dollar amount depending on
injury.
They can set up a plan based on a gross estimate of your income (including cash based tips)
Your rate is locked in for life You can purchase a plan regardless of pre-existing
conditions Employee owned and payed – if you change jobs it
will move with you Partial disability – if you work less than 80% of your
normal hours Maternity coverage is included in all of their disability plans for 6-8 weeks post-delivery Employers generally see a 25-50% reduction in worker’s comp claims Only 3 employees are needed to enroll for a group rate through payroll deduction and there aren’t any costs to the business
DISABILITY INSURANCE
This is Paul from Aflac
$70,000 annual salary
$3,300 monthly benefitCost of $16.83 per week
$60,000 annual salary
$3,000 monthly benefitCost of $15.30 per week
$50,000 annual salary
$2,500 monthly benefitCost of $12.75 per week
$40,000 annual salary
$2,000 monthly benefitCost of $10.20 per week
KNOW YOUR LOCAL LAWS
Conneticut, California & Massachusetts all have paid sick time laws, as do 18 cities across the
US, including San Francisco, New York City, Philadelphia,
Seattle and Portland.
In California, Nevada, Washington, Oregon,
Alaska and Minnesota, employers are required to pay workers full state minimum wage before tips. Over half of the
remaining states have higher tips-based
employee minimum wage including $7.46 in
Conneticut, $5.03 in Florida, $4.95 in Illinois.
California, Hawaii, New Jersey, New York,
Puerto Rico and Rhode Island require
businesses to provide partial wage
replacement insurance coverage for non-work
related sickness or injury.
As future business owners, it is up to us to continue to promote and build up the bartending industry as a career path. Many creative ideas are popping up in bars across the country:
BUILDING A BETTER TOMORROW