Anyone who’s ever enjoyed the feeling of relaxation and restoration that comes from a well-prepared restaurant meal can appreciate the good work that America’s restaurants are doing every day. CorpNet was pleased to help a family-owned independent restaurant chain, The Squeeze In, with its online incorporation needs.
The Squeeze In is a multi-unit, independently owned restaurant chain based in Reno and Tahoe, Nevada and Truckee, California. Owned by a family team (Gary and Misty Young and daughter and son-in-law Shila and Chad Morris) and managed along with a professional staff and a dedicated team of 76 associates, The Squeeze In has a passionate customer base of locals and out-of-town vacationers. The restaurant’s renowned “Best Omelettes On The Planet™”are each made with four eggs and farm-fresh ingredients. The Squeeze In has been mentioned on the Tonight Show and in National Geographic World Magazine, Powder Magazine, the Wall Street Journal, the San Francisco Chronicle and was also featured on a recent episode of Food Network’s “Throwdown With Bobby Flay.”
When the owners of this delicious, popular breakfast-and-lunch spot decided to get help filing some incorporation documents, they turned to CorpNet to see what we had on our menu. (Sorry for the pun; couldn’t resist.)
“One of the complexities that we were dealing with in incorporating our business is that we have three locations, and our corporate attorney advised us to set up separate corporate entities to protect each location separately,” said Misty Young, co-owner of The Squeeze In. “We worked with CorpNet to set up the corporate structures for our business, and we were amazed at how simple they made the process. CorpNet made it fast, efficient and easy to set up three individual corporate entities for our restaurants, along with a management corporation over all three. The CorpNet team were really knowledgeable and helpful, and they did it all for an amazingly reasonable fee.”
Misty Young and her husband Gary decided to buy The Squeeze In in 2003 and have worked there together ever since. (He’s “The Busboy” and she’s “The Boss.”) Their entrepreneurial dream was to have more control of their time and be able to provide opportunity for growth and economic stability for their family, as well as help provide for the families of the restaurant chain’s 76 associates. They have grown the restaurant from one location with 9 employees to three locations with 76 employees, all devoted to delivering what Misty describes as an “unexpectedly excellent” customer experience.
“One of the most surprising things about running a business is seeing how much people want us to succeed,” Misty said. “Our customers love us and we love them back. Owning a super cool restaurant with a near cult-like following is just plain exciting!”
Misty Young said that setting up a corporate structure for her business was one of the best decisions she and her husband could have made. Asked what advice she would offer to new entrepreneurs, Misty said that they should avoid the risks of sole proprietorship.
“If you’re going to start a business, set it up right,” she said. “You don’t make the rules, but you play by them. Doing business as a sole proprietor, without a corporate veil over your personal assets, is too risky. Don’t put yourself, your house, your personal assets and future income in a vulnerable position like that.”
Ultimately, Misty sees her company as leaving a lasting legacy for her and her husband, even after they are retired.
“We are in love with our company,” said Misty. “Maybe it sounds weird to be in love with your business, but it’s true. We’re parents of two grown daughters, and we see The Squeeze In as our third child. We see the long term value of how it takes care of us and our families, and the families of our associates. We understand the joy and sense of belonging it brings to our tens of thousands of guests and we hope to continue to serve them for decades to come. With the corporate structure we’ve set in place, our brand new twin grandchildren could eventually be running these companies long after we’re gone. We like the idea of leaving this potential legacy, and we have strategically and intentionally set out to create it.”
Many thanks to Misty Young for sharing your story with us. It’s clear that Misty and her family have the passion, dedication and integrity that being a successful entrepreneur requires. And next time I’m in Reno or Tahoe, I’ll be sure to stop in for one of those amazing omelettes!
Are you ready to “get cooking” on your own business idea? CorpNet can help you start a business with free tools, consultation and resources. Whether you need to choose a business name or select the right business structure, we can help you with free guidance on how to do a corporate name search, incorporate a business, register an LLC, and other assistance to get your new business launched.