Author Topic: Restaurateurs?  (Read 330 times)

Askel

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Restaurateurs?
« on: September 16, 2017, 09:12:57 PM »
My dad worked in this industry for years, so I maintain no illusions about this.

Nonetheless, I think there's a wide open opportunity for a breakfast joint in my town. 

Real estate is cheap, but I'd probably need to build a kitchen. The after-church crowd is well established at other places, but the 2am drunk crowd and late sunday risers could really use a good place right now.  (Guess which market segment I fall in...)

Anybody involved in a gig like this? 


Northstar

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Re: Restaurateurs?
« Reply #1 on: September 16, 2017, 10:05:45 PM »
Hey Askel, I own a restaurant serving lunch and dinner, in at 9am to prep, open at 11 and close at 10, Tuesday thru Sunday. It's good your dad was in the industry so you have a heads up on what to expect, what was his position in what type of restaurant? I think the general idea is you have to be a bit crazy and very driven to own a restaurant and be sucessful. If you plan to buy real estate and build out a kitchen and your own concept be ready to shell out some money, not that it isn't worth it l, it's just a huge huge huge undertaking. And depending on pricing in your area, payroll, overhead, what you can sale your meals for, will determine if it's a good idea or not. My best advice is run the numbers, up and down backwards and forwards and if the numbers say go for it, then go for it. But restaurant work man you gotta love it, gotta want it, you're basically married to it. If someone calls out, it's on you to get it covered or personally cover it. We run a place with 300 seats, 50 employees and do around 3 million a year with average ticket price of 9$ in a low cost of living middle class town. We found a niche and it's working for us, just know your market and your customers and go for it. If you look up the stats on new restaurants it's kinda scary, most fail to be honest but it can be a very fun and rewarding gig. It just takes a lot to get a strong foot hold in a community. What are you currently doing ? And is the only reason you're wanting to get into the business is because you see a need in the community you think you can service? My goal was never to be a restaurateur, I began working in one as my first real job at 17 and ended up owning one, but the restaurant is the vehicle to buy realestate. Realestate is the real game, owning a restaurant is just providing the funds. There at many many things you can do to make as much or more money, with less risk, but if you're set on it I say go for it, just know your numbers and know your customer and what the want, and give it to them. Best of luck!