The REAL Restaurant Business
I LOVE the restaurant business!!
I’ve been involved in the restaurant business for almost three decades.
There is something about this industry that I find very energizing. Many people say that this is an industry where dreams and money goes to die, but I disagree. Yes, there are many first time owners who jump into restaurant ownership and fail quickly. That is the major reason that the restaurant failure statistic are so high.
However, I’ve seen some amazing rags to riches stories in this industry.
The other thing you’ll quickly find once you get inside the restaurant industry is that many of the very successful restaurant owners are more than happy to continue the illusion that starting your own restaurant business is NOT a good idea. This myth keeps their potential future competitors away.
Restaurant Business Realities
I’m not dismissing the fact that many restaurants don’t make it to their first year anniversary. However, from my perspective inside the industry, I think that the failure rate is simply a result of not enough information, or old, outdated information.
By perpetuating certain myths and misinformation the current veteran operators greatly decrease the odds of a new independent rookie operator starting a restaurant around the corner from them.
The truth is that owning your own restaurant is one of the very few ways for someone to create a profitable, sustainable business. If you have the desire, and the knowledge, you can own a restaurant business regardless of your educational or financial history.
Building up a restaurant business from scratch is one of the true level playing fields left in today’s business society.
Your Own Restaurant Business?
Owning a profitable business is a burning desire for many entrepreneurs. And owning a profitable restaurant business is a dream of many, many people. I honestly believe that with the proper “insider knowledge” and a burning desire, anyone who REALLY wants to be a restaurant owner has a good chance for success.
It is simply a lack of knowledge that causes many rookie restaurant owners to make some decisions (or not make them) and put their operation in financial jeopardy.
Things I Love About The Restaurant Business
- those marvellous aromas
- being busy
- being too busy
- getting hit with a rush of customers
- team work
- counting the receipts at the end of the day (that never gets old)
- working to create something new, and then opening it
- deliveries
- laughter in the kitchen
- the heat in the kitchen
- a full house
- the noise customers make in a busy restaurant
- the sound of the front door opening
- customers laughing
- customers smiling
- return customers
- having your bank manager respect you (invite you to lunch)
- having your family be proud of you
- creating something that many people said would fail, and proving them wrong
- unlocking the door to “MY place”
If someone said, “tell me why you love the restaurant business in 2 words?”
I’d have to say “The People”
There are many people who wouldn’t do well in the restaurant business. People who don’t like working hard, handling the constant emergencies and thriving in the hectic pace aren’t cut out for this business.
If you love people and you are willing to learn the “insider tips” you can have a very happy, profitable restaurant business.