For Francis Marincola, giving part of his business to four of his long-term employees is the path to success.
The 72-year-old only needs to spend about 10 hours a week at his Delray Beach Italian restaurant, Caffe Luna Rosa.
“I would rather have an excellent functioning restaurant and take half the profit, than a restaurant that if I wanted it to be excellent functioning, I would have to be there all the time,” he said.
Marincola turned over 50 percent of the popular restaurant in Delray Beach to these employees in return for their continued passion and dedication to his business.
He has been sharing profits to boost their performance for many years, but this year he decided to take it a step further.
. . .
Mercedes LaRue, a small business expert, said awarding ownership to employees is a good way to keep valuable workers, who are essential to a successful business. LaRue is the director of the institute for family businesses at the Eugenio Pino and Family Global Entrepreneurship Center at Florida International University.
Read: “Restaurant owner gives half his business to employees,“ an article by SunSentinel.com.
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