9+ Who Owns Black Sheep Bistro? +Facts & Info

who owns black sheep bistro

9+ Who Owns Black Sheep Bistro? +Facts & Info

Determining the proprietorship of a restaurant, such as Black Sheep Bistro, involves identifying the individual(s) or entity legally responsible for its operation. This information can range from a single owner-operator to a complex corporate structure. Understanding this structure can be crucial for various purposes, including business inquiries, media contact, or investment research.

Knowledge of restaurant ownership provides valuable context. It can reveal the driving forces behind the establishment’s vision, menu, and overall atmosphere. This insight can be beneficial for patrons seeking specific dining experiences, potential investors evaluating opportunities, or suppliers and vendors engaging in business transactions. Additionally, understanding historical ownership can shed light on the evolution of the establishment and its place within the community.

This exploration of restaurant ownership serves as a foundation for understanding the establishment’s operations, history, and potential future trajectory. The following sections will delve into related topics such as the restaurant’s history, culinary style, and community involvement.

1. Legal Owner

Identifying the legal owner is crucial to understanding who owns Black Sheep Bistro. This designation represents the individual or entity with legal title and ultimate responsibility for the business. Establishing legal ownership provides a foundation for understanding liability, financial obligations, and operational control. The following facets offer a comprehensive view of legal ownership in this context.

  • Individual Ownership:

    If an individual owns Black Sheep Bistro, this person holds the legal title and is personally liable for the business’s debts and obligations. This structure offers direct control but also carries significant personal financial risk.

  • Partnership:

    In a partnership, two or more individuals share ownership and responsibility. Liability and profits are distributed according to the partnership agreement. This structure allows shared resources and expertise but can introduce complexities in decision-making.

  • Limited Liability Company (LLC):

    An LLC provides a degree of separation between the business and its owners, offering personal liability protection. Ownership is represented by membership interests, and profits and losses are passed through to the members. This is a common structure for restaurants due to its balance of protection and flexibility.

  • Corporation (C-Corp or S-Corp):

    Corporations are more complex structures with distinct legal personhood. Ownership is represented by shares of stock. C-Corps face double taxation (corporate and individual), while S-Corps offer pass-through taxation similar to LLCs. This structure can be beneficial for attracting investment but entails more stringent regulatory requirements.

Understanding the legal ownership structure of Black Sheep Bistro provides a framework for comprehending the complexities of its operation, financial standing, and liability. This knowledge is essential for anyone conducting business with the establishment, seeking investment opportunities, or simply interested in gaining deeper insight into its operations.

2. Operating Company

The operating company plays a crucial role in understanding the ownership and management structure of Black Sheep Bistro. While legal ownership establishes ultimate responsibility, the operating company manages the day-to-day business operations. Discerning the relationship between the legal owner and the operating company provides valuable insight into the restaurant’s functional structure and decision-making processes. This section explores the multifaceted connection between the operating company and determining who owns Black Sheep Bistro.

  • Management Structure:

    The operating company defines the management structure of Black Sheep Bistro. This includes identifying key personnel such as the general manager, executive chef, and other department heads. Understanding the management structure illuminates the operational hierarchy and decision-making process within the restaurant. For example, a centralized management structure within the operating company might indicate tighter control by the legal owner, whereas a decentralized structure might suggest more autonomy at the restaurant level.

  • Branding and Operations:

    The operating company often dictates the branding, marketing strategies, and daily operations of Black Sheep Bistro. This includes menu development, customer service protocols, and overall brand identity. Examining the operating company’s influence on these aspects provides insight into the restaurant’s market positioning and target audience. For example, an operating company with a portfolio of upscale restaurants might implement similar branding and operational strategies across its holdings, including Black Sheep Bistro.

  • Financial Performance:

    The operating company’s financial performance directly impacts Black Sheep Bistro. Analyzing the operating company’s financial statements, including revenue, expenses, and profitability, provides a clear picture of the restaurant’s financial health. This information is crucial for potential investors, creditors, and other stakeholders. For example, a financially stable operating company can provide more resources and support to Black Sheep Bistro, while a struggling operating company might impose financial constraints.

  • Legal Agreements and Contracts:

    The operating company typically enters into contracts and agreements on behalf of Black Sheep Bistro, including leases, vendor agreements, and employment contracts. Understanding these legal agreements illuminates the operational and financial obligations of the restaurant. For example, a long-term lease held by the operating company can impact the stability and future plans of Black Sheep Bistro.

By examining the operating companyits management structure, branding influence, financial performance, and legal agreementsone gains a comprehensive understanding of the operational realities and strategic direction of Black Sheep Bistro. This analysis provides crucial context for determining the true influence and control exerted by the legal owner(s) and contributes significantly to a holistic picture of the restaurant’s ownership structure.

3. Investors (if any)

Identifying investors, if any, is crucial for understanding the ownership structure of Black Sheep Bistro. Investment signifies financial backing and often implies a degree of influence or control over the business. Analyzing the investors, their stake, and their involvement provides a deeper understanding of the restaurant’s financial stability, strategic direction, and decision-making processes. This section explores the complex relationship between investors and the question of who owns Black Sheep Bistro.

  • Types of Investors:

    Investors in a restaurant like Black Sheep Bistro can range from individual angel investors to venture capital firms or private equity groups. Each type of investor brings different expectations, levels of involvement, and financial resources. Angel investors, for instance, might provide seed funding in exchange for equity and mentorship, whereas venture capital firms typically seek higher returns and exert more influence on strategic decisions. Identifying the types of investors involved illuminates the financial landscape and potential power dynamics within the ownership structure.

  • Equity Stakes and Ownership Percentage:

    The equity stake held by each investor directly reflects their ownership percentage in Black Sheep Bistro. A majority stakeholder, holding more than 50% of the equity, typically exerts significant control over the business, whereas minority stakeholders hold less influence proportionate to their investment. Understanding the distribution of equity reveals the power dynamics and decision-making authority within the ownership structure.

  • Investor Involvement in Operations:

    The level of investor involvement in the daily operations of Black Sheep Bistro can vary significantly. Some investors might take an active role in strategic planning and management decisions, while others might maintain a passive investment approach. Active investor involvement can influence the restaurant’s direction, menu, and overall business strategy. Understanding this dynamic provides insight into the operational control and decision-making processes within the restaurant.

  • Investment Agreements and Terms:

    Investment agreements outline the terms and conditions of the investment, including the amount invested, equity stake, investor rights, and exit strategies. These agreements can significantly impact the ownership structure and future trajectory of Black Sheep Bistro. For instance, an agreement might grant investors preferential treatment in the event of a sale or liquidation, influencing the distribution of proceeds and the overall ownership dynamics.

Analyzing the investors in Black Sheep Bistrotheir types, equity stakes, involvement in operations, and investment agreementsprovides a crucial lens for understanding the complexities of the restaurant’s ownership. This information, combined with an understanding of the legal owner and operating company, paints a comprehensive picture of who controls and influences the restaurant’s destiny. Investigating these investment dynamics illuminates not only the financial backing of Black Sheep Bistro but also the power structures and strategic influences shaping its present and future.

4. Management Team

The management team of Black Sheep Bistro plays a pivotal role in the restaurant’s operations and reflects, either directly or indirectly, the influence of the ownership structure. Understanding the management team’s composition, responsibilities, and relationship to the owners provides valuable insight into the restaurant’s strategic direction, operational efficiency, and overall success. Analyzing the management team helps to clarify the practical application of ownership influence and control within the restaurant’s daily operations.

  • Key Personnel and their Roles:

    Identifying the key personnel within the management teamsuch as the general manager, executive chef, head of service, and financial controllerilluminates the distribution of responsibilities and the operational hierarchy. The general manager typically oversees daily operations, while the executive chef manages the kitchen and menu development. The head of service ensures customer satisfaction, and the financial controller manages the restaurant’s finances. Examining these roles and their interrelationships clarifies the operational structure and decision-making processes within Black Sheep Bistro.

  • Relationship to Ownership:

    The management team’s relationship to the ownership can take various forms. In some cases, the owner might directly manage the restaurant, blurring the lines between ownership and management. Alternatively, the owner might appoint a professional management team to oversee operations. Understanding this relationship reveals the extent of owner involvement and the degree of autonomy afforded to the management team. For example, an owner-managed restaurant might prioritize personal vision, whereas a professionally managed restaurant might prioritize operational efficiency and profitability.

  • Decision-Making Authority:

    The management team’s decision-making authority reveals the distribution of power within the restaurant. A highly centralized decision-making structure, where key decisions require owner approval, indicates tight ownership control. A decentralized structure, where the management team has autonomy in operational decisions, suggests greater trust and delegation of authority. Analyzing the decision-making processes clarifies the balance of power between ownership and management.

  • Impact on Restaurant Performance:

    The management team’s effectiveness directly impacts the restaurant’s performance. A skilled and experienced management team can drive profitability, enhance customer satisfaction, and foster a positive work environment. Conversely, a poorly performing management team can negatively impact the restaurant’s reputation, financial stability, and long-term viability. Analyzing the management team’s track record and performance provides insight into the operational efficiency and overall success of Black Sheep Bistro.

By examining the management teamits key personnel, relationship to ownership, decision-making authority, and impact on performanceone gains a deeper understanding of the operational dynamics within Black Sheep Bistro. This analysis complements the understanding of the legal ownership structure and provides crucial insight into how ownership influence translates into practical management and operational decisions. Ultimately, understanding the management team provides a crucial link between the abstract concept of ownership and the concrete realities of running a restaurant.

5. Founding History

The founding history of Black Sheep Bistro provides essential context for understanding its current ownership structure. Examining the circumstances of its establishment, including the initial founders, their vision, and the early evolution of the restaurant, can illuminate the trajectory of ownership and the underlying philosophy driving the business. This historical perspective provides a foundation for understanding how ownership has changed and adapted over time.

  • Initial Founders and their Vision:

    Identifying the initial founders and their original vision for Black Sheep Bistro offers insight into the restaurant’s core values and intended market position. Were they experienced restaurateurs, culinary enthusiasts, or entrepreneurs with a unique concept? Understanding their motivations and goals sheds light on the early development of the restaurant and can provide clues about the subsequent evolution of ownership. For instance, a restaurant founded by a family might prioritize tradition and continuity, whereas a restaurant founded by investors might prioritize profitability and growth.

  • Early Funding and Investment:

    The initial funding and investment structure of Black Sheep Bistro can reveal early ownership dynamics and the financial foundation upon which the restaurant was built. Was it self-funded, bootstrapped, or backed by investors? Understanding the early financial arrangements provides insight into the initial ownership distribution and can help explain subsequent changes in ownership. For example, early reliance on venture capital might have led to investor influence on later ownership decisions.

  • Evolution of the Business Model:

    Tracing the evolution of Black Sheep Bistro’s business model, including any significant changes in concept, menu, or target audience, can provide clues about shifts in ownership or management philosophy. Did the restaurant undergo significant renovations, rebranding efforts, or changes in culinary direction? These developments can often be linked to changes in ownership or management, reflecting evolving priorities and strategic decisions. For example, a shift from fine dining to a more casual concept might indicate a change in ownership or management strategy.

  • Early Partnerships and Collaborations:

    Examining early partnerships and collaborations can reveal influential relationships that shaped the restaurant’s early development and potentially influenced ownership transitions. Did the founders collaborate with established chefs, local suppliers, or community organizations? These early relationships can provide valuable context for understanding the restaurant’s growth and the evolution of its ownership structure. For instance, a partnership with a prominent chef might have later led to a change in ownership or management.

By exploring the founding history of Black Sheep Bistrothe initial founders, their vision, early funding, business model evolution, and early partnershipsone gains a deeper understanding of the context surrounding its current ownership structure. This historical analysis provides a framework for interpreting subsequent changes in ownership and illuminates the enduring influences that have shaped the restaurant’s identity and trajectory. Understanding the past provides valuable insight into the present and future of Black Sheep Bistro, enriching the understanding of who owns it and why.

6. Ownership Changes

Tracing ownership changes is essential for understanding the current ownership structure of Black Sheep Bistro. Shifts in ownership can significantly impact the restaurant’s direction, operations, and financial stability. Examining these transitions provides valuable insights into the evolution of the business and clarifies the current ownership landscape. This exploration of ownership changes provides a crucial piece of the puzzle in determining who owns Black Sheep Bistro today.

  • Acquisitions and Mergers:

    Acquisitions and mergers represent significant ownership changes. If Black Sheep Bistro was acquired by another restaurant group or merged with another entity, the ownership structure would have fundamentally shifted. For instance, a local restaurant group might acquire Black Sheep Bistro to expand its portfolio, or it might merge with a similar establishment to consolidate resources and market share. Understanding any acquisitions or mergers is crucial for identifying the current controlling entity.

  • Buyouts and Sales:

    Buyouts and sales involve the transfer of ownership from one party to another. A founder might sell their stake to a new investor or a group of partners might buy out another partner’s share. These transactions can occur for various reasons, such as retirement, financial difficulties, or strategic disagreements. Tracking these buyouts and sales provides crucial information for understanding the current ownership distribution.

  • Bankruptcy and Foreclosure:

    Bankruptcy and foreclosure represent significant ownership changes often associated with financial distress. If Black Sheep Bistro experienced bankruptcy or foreclosure, ownership might have transferred to creditors or been acquired through a court-ordered sale. Understanding these events provides critical context for the current ownership situation and the restaurant’s financial history.

  • Internal Restructuring:

    Internal restructuring within a company can also lead to ownership changes, although less directly than acquisitions or sales. For instance, a change in the distribution of shares among existing partners or the creation of a new holding company can alter the ownership structure without involving external parties. Analyzing internal restructuring provides a nuanced understanding of ownership dynamics and control within the business.

By examining the history of ownership changesacquisitions, mergers, buyouts, sales, bankruptcies, foreclosures, and internal restructuringone gains a comprehensive understanding of how ownership of Black Sheep Bistro has evolved over time. This analysis provides a crucial historical context for identifying the current owners and understanding their influence on the restaurant. Ultimately, tracing these changes provides a dynamic picture of ownership, illuminating the path from the restaurant’s founding to its current ownership structure.

7. Public Records

Public records offer a crucial avenue for investigating the ownership of Black Sheep Bistro. These documents, accessible to the public by design, provide transparency and accountability in business ownership. Various types of public records can reveal key information related to the restaurant’s ownership structure. For instance, business registration documents filed with the relevant governmental agencies typically disclose the legal name of the business, its registered address, and the names of its owners or registered agents. Similarly, property records can reveal the owner of the property where the restaurant is located, which can sometimes, but not always, align with the restaurant’s ownership. Liquor license applications often require disclosure of ownership information, providing another potential source for identifying stakeholders in Black Sheep Bistro. Uniform Commercial Code (UCC) filings, which document liens against business assets, can reveal creditors and potentially point to individuals or entities with significant financial interests in the restaurant. Examining these diverse public records can provide a comprehensive picture of the ownership structure.

Accessing these public records often involves utilizing online databases maintained by government agencies or commercial providers specializing in business information. The specific procedures and costs associated with accessing these records vary depending on the jurisdiction and the type of record requested. However, the information gleaned from these records can be invaluable for understanding the ownership of Black Sheep Bistro. For example, if Black Sheep Bistro is owned by an LLC, public records can reveal the members of the LLC, providing insight into the individuals or entities behind the business. Similarly, if the restaurant has undergone ownership changes, these transitions may be documented in public records, providing a historical overview of the ownership structure. This historical perspective can be particularly useful for understanding the evolution of the restaurant and identifying key individuals or entities associated with its development.

Utilizing public records is a fundamental step in determining the ownership of Black Sheep Bistro. The information gleaned from these sources provides verifiable data and contributes significantly to a comprehensive understanding of the restaurant’s ownership structure. While navigating these records might require some effort, the resulting insights offer valuable clarity and transparency, facilitating informed decision-making for various stakeholders, including potential investors, business partners, and researchers. It’s important to note, however, that public records might not always provide a complete picture, and additional investigation might be necessary to fully understand complex ownership structures. Nevertheless, public records remain a cornerstone of transparency in business ownership and a crucial starting point for any investigation into who owns Black Sheep Bistro.

8. Operational Control

Operational control signifies the practical authority to manage a business’s day-to-day activities. In the context of Black Sheep Bistro, this encompasses decisions regarding menu planning, staffing, marketing, and financial management. Determining who exercises this control is crucial for understanding the effective ownership structure, even if legal ownership resides elsewhere. A clear link exists between operational control and genuine influence within the restaurant. For example, a minority owner might exert significant operational control due to managerial expertise or a specific contractual agreement, effectively holding greater sway than their ownership percentage might suggest. Conversely, a majority owner might delegate operational control entirely to a management team, indicating a more passive investment approach. Therefore, analyzing operational control provides a nuanced perspective beyond the legal framework of ownership.

Several factors can influence operational control. Management agreements, often established between owners and operating companies, delineate responsibilities and decision-making authority. These agreements can grant specific operational control to individuals or entities regardless of ownership stake. The presence of a parent company or franchise agreement can also influence operational control, as these structures often impose standardized procedures and management practices. Furthermore, the organizational structure of Black Sheep Bistro itself plays a role. A centralized structure typically concentrates operational control, while a decentralized structure diffuses it among various departments or individuals. Understanding these influencing factors is crucial for discerning the practical realities of power and decision-making within the restaurant.

Understanding operational control is essential for various stakeholders. Potential investors benefit from knowing who makes key operational decisions and how these decisions align with their investment goals. Suppliers and vendors gain insight into the restaurant’s management structure, which can influence contract negotiations and business relationships. Even customers can benefit from understanding the operational dynamics, as it can provide insights into the restaurant’s consistency, quality, and overall customer experience. Therefore, disentangling operational control from legal ownership provides a more comprehensive and practical understanding of “who owns Black Sheep Bistro,” revealing the individuals or entities truly at the helm of the restaurant’s operations.

9. Parent Company (if applicable)

The existence of a parent company significantly impacts understanding the ownership of Black Sheep Bistro. A parent company, by definition, holds a controlling interest in another company, its subsidiary. If Black Sheep Bistro operates under a parent company, that parent company ultimately dictates the restaurant’s strategic direction and financial decisions. This relationship adds a layer of complexity to determining ownership, as the parent company’s ownership structure must also be considered. For example, if Black Sheep Bistro is owned by a subsidiary of a larger restaurant conglomerate, the conglomerate’s shareholders are the ultimate owners, even though their influence is exerted indirectly. This indirect ownership can impact decisions regarding branding, menu offerings, and expansion strategies. Another example involves private equity firms. If a private equity firm owns the parent company of Black Sheep Bistro, the firm’s investment strategy and portfolio diversification goals influence the restaurant’s operations, even if the firm isn’t directly involved in daily management. Consequently, identifying the parent company and its ownership structure is crucial for a complete understanding of Black Sheep Bistro’s ownership.

The parent company’s influence extends beyond financial control. Standardized operating procedures, purchasing agreements, and marketing strategies often originate at the parent company level and cascade down to subsidiaries like Black Sheep Bistro. This centralized control can create both advantages and disadvantages. Benefits might include economies of scale in purchasing and access to established marketing resources. However, drawbacks can include limitations on local autonomy and potential conflicts between the parent company’s overarching strategy and the restaurant’s specific market needs. For example, a parent company’s decision to standardize menus across all its subsidiaries might not align with Black Sheep Bistro’s local customer preferences, impacting its profitability and market position. Analyzing this dynamic between parent company influence and local operational realities is crucial for understanding the restaurant’s true ownership dynamics.

In conclusion, understanding the role of a parent company, if applicable, is essential for a comprehensive analysis of Black Sheep Bistro’s ownership. Identifying the parent company, its ownership structure, and its influence on the restaurant provides a broader perspective on the forces shaping its operations and strategic direction. This understanding extends beyond the immediate legal ownership of the restaurant to encompass the broader corporate ecosystem in which it operates. Disentangling these complex relationships provides crucial context for stakeholders, including investors, business partners, and researchers seeking a thorough understanding of “who owns Black Sheep Bistro.”

Frequently Asked Questions about Black Sheep Bistro Ownership

This section addresses common inquiries regarding the ownership of Black Sheep Bistro. Understanding ownership structure is crucial for various stakeholders, including potential investors, business partners, and those interested in the restaurant’s history and operational dynamics.

Question 1: Why is knowing the ownership of Black Sheep Bistro important?

Understanding ownership provides insights into the restaurant’s financial stability, operational philosophy, and potential future trajectory. This information can be crucial for business decisions, investment considerations, and general understanding of the establishment’s context within the community.

Question 2: How can one determine the legal owner of Black Sheep Bistro?

Legal ownership can be determined through public records, such as business registration documents, property records, and liquor license applications. These records are typically accessible through government agencies or specialized commercial databases.

Question 3: Is the legal owner always the same as the operating entity?

Not necessarily. The legal owner might be an individual or a holding company, while a separate operating company manages the restaurant’s daily operations. Distinguishing between these entities provides a more nuanced understanding of the restaurant’s management structure.

Question 4: What role do investors play in the ownership structure?

Investors provide financial backing and can hold varying degrees of influence depending on their equity stake and involvement in operational decisions. Identifying investors and their respective roles clarifies the financial landscape and potential power dynamics within the restaurant.

Question 5: How can one find information about past ownership changes of Black Sheep Bistro?

Public records often document significant ownership changes, such as acquisitions, mergers, and sales. Examining these records provides a historical perspective on the evolution of the restaurant’s ownership and can reveal key individuals or entities associated with its development.

Question 6: What if the ownership information is not readily available through public records?

While public records are a primary source of information, additional research might be necessary. Investigative journalists, specialized business analysts, or legal professionals can utilize advanced research techniques to uncover more complex ownership structures.

Exploring these frequently asked questions provides a foundational understanding of the complexities involved in determining restaurant ownership. Further investigation and analysis might be necessary for a comprehensive understanding of specific situations.

The following section will delve further into the specific case of Black Sheep Bistro, exploring its history, culinary approach, and community involvement.

Tips for Investigating Restaurant Ownership

Understanding restaurant ownership can be crucial for various purposes, from investment due diligence to media inquiries. The following tips provide guidance for navigating this research process effectively.

Tip 1: Start with Public Records. Begin by accessing publicly available records, such as business registration documents, property records, and liquor license applications. These resources often provide initial insights into ownership structure and historical changes.

Tip 2: Analyze the Operating Company. Investigate the operating company responsible for the restaurant’s daily management. This analysis can reveal key personnel, operational strategies, and the relationship between management and ownership.

Tip 3: Identify Investors and their Stakes. Determine if investors are involved and the extent of their equity stakes. Understanding investor involvement clarifies financial backing and potential influence on decision-making.

Tip 4: Trace the Founding History. Research the restaurant’s founding history, including initial founders, their vision, and early funding. This historical perspective provides context for understanding the evolution of ownership and operational philosophy.

Tip 5: Examine Ownership Changes. Investigate any past ownership changes, such as acquisitions, mergers, buyouts, or internal restructuring. Tracking these changes illuminates the path to the current ownership structure.

Tip 6: Consider Operational Control. Distinguish between legal ownership and operational control. The entity exercising day-to-day management might wield significant influence, regardless of ownership percentage.

Tip 7: Identify the Parent Company (if applicable). If a parent company exists, investigate its ownership structure and influence on the restaurant’s operations. Parent company involvement adds another layer to understanding the overall ownership dynamic.

Tip 8: Consult with Professionals if Necessary. For complex ownership structures or when public records are insufficient, consider consulting with investigative journalists, specialized business analysts, or legal professionals with expertise in uncovering complex ownership structures. These professionals can employ advanced research techniques beyond the scope of typical public record searches.

By employing these tips, research into restaurant ownership becomes more systematic and comprehensive. This informed approach facilitates a clearer understanding of the individuals or entities behind a restaurant, enabling more informed decision-making.

The concluding section will summarize the key findings of this exploration into restaurant ownership and offer final thoughts on the importance of understanding this often-overlooked aspect of the business.

Conclusion

Determining who owns Black Sheep Bistro requires a multifaceted approach, extending beyond simply identifying the legal owner. This exploration has highlighted the importance of examining the operating company, potential investors, the management team’s structure, and the restaurant’s founding history. Ownership changes, public records, operational control, and the potential influence of a parent company all contribute to a comprehensive understanding of the forces shaping the restaurant’s trajectory. Each of these factors offers a unique perspective, contributing to a more nuanced understanding than surface-level inquiries might reveal. By considering these elements collectively, a more complete and insightful picture of Black Sheep Bistro’s ownership emerges.

Understanding restaurant ownership is not merely an exercise in data collection; it provides valuable context for evaluating the establishment’s past, present, and future. This knowledge empowers stakeholders, from potential investors to engaged community members, to make more informed decisions. As the restaurant industry continues to evolve, transparency in ownership remains crucial for fostering trust and accountability within the culinary landscape. Further investigation into specific establishments, building upon the framework presented here, encourages a more informed and discerning approach to appreciating the complexities of restaurant ownership.