Do not be one of those people that goes to a friends house for dinner and when you’re done eating say “your food is amazing, you should open your own restaurant”. Before you read any further, ask yourself if you are a good friend to the person who invited you. Let me tell you a couple three things about the restaurant business that if you haven’t owned a restaurant, you will know nothing about it!
Let’s talk about the food. It’s nice to be in your home and cook a holiday meal for 20 people and be able to take your time. A restaurant kitchen is the complete opposite . It is fast paced, hectic and downright mind blowing. In a fast paced restaurant (if you are the lucky 15% of restaurants in this country to be that busy) you will serve 20 people in 30 minutes or less. Think about it!
There are a ton of responsibilities in owning a restaurant. Here’s just a few things you will have to deal with; the government, insurances, landlords, banks, staffing (reliable staff which is almost non-existent), food quality, payroll, licenses, waste disposal, food cost, liquor cost, beer cost, wine cost, vendors, constant upkeep, menu changes, scheduling and the list goes on and on. On top of all of that, you have to be a security guard for your product and money. Employee theft in the restaurant business is very common. Whether it’s over pouring liquor and giving away drinks to friends or not ringing up drinks and pocketing the cash. It happens every day and you need to be on your game to catch the thieves.
90% of all restaurants fail within the first year of opening. If you are lucky enough to get through the first year the statistics are 50% fail in the first 3 years of opening. Which means you just lost a ton of money! I’m not saying that there’s no chance for success. What I am saying is you need to be a special type of person to be a restaurant owner. People lose millions every year because they try to open restaurants with no prior experience in the industry. The other side of the coin is, people that do have experience try to hard and sometimes let their ego get in the way.
Now that you have all the facts, I ask again! Are you a good friend to the person who invited you to dinner? If not, you can help them lose everything!