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Everyone Wants to Own a Restaurant

September 12, 2013

Some things are never outgrown.  One of these things is wanting to own a restaurant.  A busy place is exciting; you get to greet customers, play the gracious host, be “the man” and buy drinks or desserts for your customers, the hangout is your place… and you’ll make a fortune!

article-openrestaurantdream

Well, maybe not such a fortune.  Restaurants, like any business, are complicated, need constant attention, have staff that need to be managed, require tight inventory controls, need consistent cash flow and must have unswervingly excellent customer service and food quality.  A restaurant’s success is susceptible to bad weather, ruined or spoiled food, a bad day for the chef, a shortage of wait staff on a given shift or a bad health department examination.  Some also need to please critics and can lose customers to the “newest” new place in the neighborhood.

Restaurants are not crème puffs to manage.  (Neither is any business.)  Running a business is work and needs full attention – and sometimes luck – to be successful.

2 Comments leave one →
  1. Robert Nagler permalink
    September 12, 2013 1:02 pm

    Hi Ed Having work in a restaurant I know it one of the hardest jobs I had the only thing good about it I was able to eat the food. The hours are long and you are on your feet
    all the time
    Thanks for the article
    Bob

  2. Bob Huutchins permalink
    September 13, 2013 1:10 pm

    Hi Ed,
    1. Great location
    2. Great overall experience (service)
    3. Great food
    4. Accurate and timely (weekly & monthly) financial reporting dashboards to manage food, beverage & labor costs

    The above are all absolutely necessary to have any chance for restaurant success. As a former successful restauranteur and presently CPA-consultant I can attest that the last one is as important as the other three.

    Great blog on dangerous ground. One more caution….never be a silent partner!

    Bob Hutchins, cpa.

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