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Restaurant Pitfalls and Profits |
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Start A Restaurant
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So you want to start a restaurant?
Great! I hope you are excited. There will be many people trying to tear down your dreams when you tell them you want to start a restaurant. I am not one of them. I LOVE the restaurant business.
There will be an incredible amount of energy, time and attention to detail need when you get ready to start your restaurant. Here is a quick piece of advice from someone who's been involved in many, many restaurant startups. Opening your restaurant is actually the easy part. Keeping it open is a little tougher.
Although you will be juggling a million details in the air during your startup, you must keep focused on your priorities. Step back from the insanity of getting ready to open and ask yourself this question. "As the owner of this new restaurant, what should be my number one priority?" This is a question that most new restaurant owners don't address.
There is so much time and money spent just getting to your grand opening that you don't consider what is most vital to growing a profitable restaurant. It used to be that if you opened a nice place with good food, you could be a success. Times have changed. The large chains are doing their best to give the little guy less and less market share. However, the restaurant industry is one of the few remaining industries where ANYONE can pull of the David and Goliath story. If you start a restaurant that caters to a specific niche, and you do it really well, you can beat the big chains, and be very profitable.
However, if you spend all your energy planning for your opening, and don't spend any time prioritizing how you will STAY open, you could be headed towards becoming one of those infamous statistics.
I like to compare the way most first time restauranteurs start a restaurant to the way many brides plan their marriage. These days it's not uncommon for a bride to fuss over every detail of their wedding day, and plan for up to 2 years for that event. And then, they are surprised when they are headed for divorce court in 6 months. The wedding is only one day, focusing on nurturing the marriage should be the priority. Your restaurant opening is one day. Your future profits are based on how you grow your business every day after that.
Traditional, out-dated methods like shotgun advertising simply don't work anymore. You must be up to date with what works, and avoid the costly mistakes most rookies make, when you decide to start a restaurant
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The statistics don't lie!
Most new restaurants don't survive a year! A little insider information might be ALL that is standing between a profitable restaurant, and becoming another unfortunate statistic!
Before you spend a small fortune opening (or buying) a restaurant, I suggest you read my FREE report I've titled "The Restaurant Industry's
Dirty Little Secrets. To get your free copy of this insider information click here to get the report!
There was a single, unforgetable event that made me mad enough to sit down and write this. It is my hope that another rookie restaurant owner won't lose their dream due to a lack of good information. To read more of that story click here
- Patricia Farnham (author of "Restaurant Gravy:
Independent Restaurant Success
Secrets Revealed")
(restaurant industry veteran, author. manager/owner/operator and restaurant enthusiast!)
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More Restaurant Reading:
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(click here to read the complete restaurant article.)
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Today's Independent Restaurant Business Tip
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for
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Getting ready to open your new restaurant is a busy, frantic time. Don't wait until the last minute to get setup for Interac, ATM, and credit card processors!
For some reason the banks and credit card processors aren't in as much of a hurry to open as you are. Make sure you get this process rolling so that you'll be setup for opening day. Far too many restaurants open and say, "I'm sorry, you'll have to pay cash. We have got the processors setup to accept debit or credit cards for a few more days!". Not a great first impression for your restaurant!
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Learn How To Become A Successful
Independent Restaurant Owner, And Beat The Odds!
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Readers Comments
Patricia
Thanks for making this information available. It has quickly become my most trusted resource as I prepare my restaurant business plan.
Thanks
Marilee Cutton
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