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Food for thought
The restaurant industry has been around for a long, long time. You've decide it's time for you to look into the possibility of your own restaurant. Many have come before you. And, sadly, many of these establishments are now gone.
Why? There was a few little things these restauranteurs didn't see, until it was too late!
I've seen the following story played out many times. Someone is told that they are a great cook, or that they have amazing people skills, or great entertainers. Then someone says, "You know Bill, you should open a restaurant. Everyone would come just for your homemade barbecue sauce!" A large chorus of "amen" usually follows this!
People love the idea of owning your own restaurant. Like Sam from Cheers. A place where everyone knows your name. A place where the owner (you) flutters from table to table of adoring patrons.
Bill decides that it is time to open his restaurant and become wealthy, admired and powerful. Six months later, he is out of business.
Why? Bill didn't learn a few little things, until it was too late!
Opening your own restaurant seems SO easy. It can't be that hard to cook food and serve drinks, can it?
Restaurant ownership can be great. I love the restaurant industry. But, it has changed. Wasting money on ineffective advertising or marketing, overpaying for a bad location, signing a bad lease, or hiring the wrong staff, can be the kiss of death for your own restaurant.
Your own restaurant (bad)
- really long hours
- rude public
- family, what family?
- steady parade of problems and emergencies
- employee headaches
Your own restaurant (good)
- outstanding income potential
- you are the boss
- very social environment
- prestige when successful
- sense of accomplishment
If you have the energy, and the willingness to learn some newer restaurant industry trends, your might be ready to own your own restaurant!
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