I finally sat down and watched the show everyone was talking about, The Bear on Hulu. Thanks to the fact that each season was about 10 episodes, I finished it in a week. As you may not know, The Bear is about a chef trying to take over his brother’s sandwich place and turn it into a Michelin-rated restaurant. The restaurant business is prone to failure, I think they say that 98 percent fail. They also run on thin margins. While plan providers don’t have such a rate of failure, they do run on thin margins.
Like Carm was doing wrong in The Bear, too many plan providers go bust over costs. Carm wanted a new menu every night, some plan providers want to have fancy offices to impress clients and potential employees. I could have gone broke as a solo ERISA attorney if I’d bought every sponsorship or service that people were selling. It’s a slow grind building a business, but if you have the dedication and time, you will succeed.
