Becoming A Restaurateur

Becoming A Restaurateur

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This is a discussion on Becoming A Restaurateur within the Education & Career Talk forums, part of the Topics of Interest category; I don't know when it started, but I began thinking about food a lot and how to cook it. Then ...

  1. #1

    Becoming A Restaurateur

    I don't know when it started, but I began thinking about food a lot and how to cook it. Then I started thinking about making food for other people and the positive affects it can have on someone. I finally graduated to the idea of opening up a restaurant or some type of food business/cart/truck.

    To date, I have only accumulated ideas based on successful restaurants that I have visited and seen on TV or read about.

    Unfortunately, I do not have the resources or the funding to start a business.

    This does not stop me from dreaming and taking pictures of available properties.

    From what I understand of starting a business, it usually takes a large bank loan or group of people to help finance the plan.

    Who are these people? How are these groups formed?

    What do you know about becoming a restaurateur?
    FaveteLinguis and Zombie Devil Duckie thanked this post.



  2. #2

    Starting a business often involves insane hours. I know some people who opened a restaurant, it proved to be a great financial decision for them, but in terms of hours lost, and blood, sweat and tears in work, unimaginable. Entrepreneurs, so I've heard, often have to master and do every part of their business, a kind of micromanaging, if there are any tasks to the business you're not interested in performing, its very likely you will still do it at times. I've listenned to other people talk about their dreams of opening a restaurant, and then choosing not to as their research and thoughts about it led them to believe it is one of the most difficult, stressful, demanding, and for the effort put in, comparatively thankless careers out there.

    I don't know what it takes to open a restaurant, but the limited opinions that I have come across have all said it is way too hard and not worth it. I also hear most businesses, especially most restaurants, fail in the first year or so. If you have not already, I would research it extensively, as I am not interested in opening a restaurant, but I have gotten unsolicited opinions about how challenging and demanding it is. I myself personally have no interest in opening a restaurant, so do take my information and anecdotes as they are, just things I've heard. I am not sure how far you are into your decision, but regardless of what you decide, good luck!

  3. #3

    I have heard all of this as well.

    Seeing as how I wouldn't mind performing every duty in my restaurant business, doing something that I don't like to do will not be an issue.

    This will be a small business with only 2-3 employees, including myself.

    I have a lot of time.

    I am not married and I have no children.

    I can easily work 12+ hours a day.
    Last edited by Slider; 06-09-2013 at 11:49 PM.

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  5. #4

    Wow, you sound so invested. Have you thought about starting off as a caterer? That way, you could work on building up a clientele/customer base before having to deal with rent? I have a friend who's started out this way. After five years, he's now making excellent money (no easy feat given the economy when he started), and plans to work his way toward opening a small restaurant. I imagine he probably feels he has a ways to go though.

    Do you have any experience working in food service?

  6. #5

    I have worked in three different restaurants.

    Other than that, I spend an exorbitant amount of time reading, watching, and researching all things food/restaurant related.

  7. #6

    Quote Originally Posted by Slider View Post
    I have heard all of this as well.

    Seeing as how I wouldn't mind performing every duty in my restaurant business, doing something that I don't like to do will not be an issue.

    This will be a small business with only 2-3 employees, including myself.

    I have a lot of time.

    I am not married and I have no children.

    I can easily work 12+ hours a day.

    * Get the bank requirements on how to obtain a business loan. Figure out if you can meet the requirements. Another route is Kickstarter.
    * Know/select your target audience. Do market research.
    * Build your business model, concept and financial budget around the target audience.
    * Work things through "on paper" thoroughly first. One of the main reasons restaurants fail in their first year is due to a lack of proper planning.
    * Keep things simple and streamlined (e.g. "good food, good service")
    * Learn how to do each job your restaurant/endeavor would need since your staff will be small. From produce purchaser, wait staff, line cook, quality control, cashier, etc.
    * It's a good thing you are willing to work 12+ hours because that is exactly what you'll be doing every day for years.
    * Learn how to advertise to your target audience.
    * Learn about retail leases, restaurant code/setup requirements in the city you want to establish in

    There's more (hard work), but I'm getting distracted. Good luck.

  8. #7

    Thanks, M.

    Appreciate it.

    I just found out that my city will be entering into contractual agreements with food trucks to help occupy a new city park.

  9. #8

    I currently own a restaurant. The below quote should sum it up nicely for you

    Quote Originally Posted by Birdy View Post
    I've listenned to other people talk about their dreams of opening a restaurant, and then choosing not to as their research and thoughts about it led them to believe it is one of the most difficult, stressful, demanding, and for the effort put in, comparatively thankless careers out there.

    I don't know what it takes to open a restaurant, but the limited opinions that I have come across have all said it is way too hard and not worth it. I also hear most businesses, especially most restaurants, fail in the first year or so.

    Before the economy meltdown, it was something you could make a good living at. These days it is very difficult. If you do manage to make a good business out of it, then money can be very good if you are willing to still put in all the work. Dont forget also, your social life pretty much be at your restaurant since your busiest times will be when most people go out for socializing. Also, you'll probably be working most holidays, (Christmas, thanksgiving, newyears, etc etc.)

    I cant tell you anything about foodcarts, but they may still be a way to make decent money without the huge initial investment and everything else that comes with the territory.


    Getting money from anywhere will be difficult since you have no track record to say you will be a successful restaurateur

    If it was me, I would not get any type of loan to open a restaurant and it will be difficult anyways since most banks don't see it as a sound investment. That should tell you something...

    This is where personal connections come into play. You should try and find a silent business partner who will put up most of the money and never show his face at the business but get a portion of the profits. Again, it will be difficult.

    Your best bet is to find a restaurant that went out of business and left all the equipment and everything inside. Happens frequently since the landlord wont let you take anything out if you don't fulfill your lease term. They then usually try and tack it on the new lease they will give you. Sometimes they wont which is better.

    If you want to build out a restaurant then find a closed one that is run down. You can usually negotiate a large sum of money out of the landlord to do the build out.
    Zombie Devil Duckie thanked this post.

  10. #9

    No tengo experiencia

  11. #10

    Quote Originally Posted by nrk112 View Post
    I currently own a restaurant. The below quote should sum it up nicely for you




    Before the economy meltdown, it was something you could make a good living at. These days it is very difficult. If you do manage to make a good business out of it, then money can be very good if you are willing to still put in all the work. Dont forget also, your social life pretty much be at your restaurant since your busiest times will be when most people go out for socializing. Also, you'll probably be working most holidays, (Christmas, thanksgiving, newyears, etc etc.)

    I cant tell you anything about foodcarts, but they may still be a way to make decent money without the huge initial investment and everything else that comes with the territory.


    Getting money from anywhere will be difficult since you have no track record to say you will be a successful restaurateur

    If it was me, I would not get any type of loan to open a restaurant and it will be difficult anyways since most banks don't see it as a sound investment. That should tell you something...

    This is where personal connections come into play. You should try and find a silent business partner who will put up most of the money and never show his face at the business but get a portion of the profits. Again, it will be difficult.

    Your best bet is to find a restaurant that went out of business and left all the equipment and everything inside. Happens frequently since the landlord wont let you take anything out if you don't fulfill your lease term. They then usually try and tack it on the new lease they will give you. Sometimes they wont which is better.

    If you want to build out a restaurant then find a closed one that is run down. You can usually negotiate a large sum of money out of the landlord to do the build out.


    Found one.











    Zombie Devil Duckie thanked this post.


     
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