A lot of you readers are bound to be talented in the kitchen. It is likely that several people in your life enjoy this food. Don't you think, then, that other people will enjoy it, too? You should start a restaurant!
Don't nine out of ten restaurants fail?
Certainly they do. Of course they do! They're started by great chefs, too! And, that is the problem. Why? A restaurant cannot be started by a great chef alone; it must be started by a great businessman.
Haven't you ever noticed that large restaurant chains often have food that is "just okay?"And, a lot of those restaurants fail, they often have great food. So, if we can learn anything from this, it's that improving the taste of your food is not the way to improve your restaurants.
Most restaurant owners make this mistake when starting their restaurant; don't make the same one. Remember, you can't just improve the taste of your food.
The taste of your food is just a little piece of your restaurant business. Let's talk about the rest of it. First, learn basic accounting; get a decent grasp on it. Lots of people will think to hire a bookkeeper, but don't. Bookkeeping is easy. You will hire a bookkeeper in time, but do it yourself while you have limited funds. Hire out the stuff that's hard.
There are many pieces of a restaurant; food is just one small one. To start building the other pieces, you should learn some accounting; you don't have to be an expert, just get a basic grasp. You might think that you can hire a bookkeeper, instead. However, you're better off doing it yourself while you have limited funds; there are other, more difficult things you should hire out.
You'll try to do most, or as many of the jobs in your restaurant as you can. The more jobs you do, the more money can be put back into your company. Eventually, however, you will hire out the work you are doing. For now, though, do as much as you can.
Next is inventory. Keeping track of everything in your restaurant is important! If you run it like your home kitchen, your restaurant will function, yes. However, it won't be able to grow much bigger than your kitchen. Make everything systematic. Write everything down.
You'll need to do a lot of work to find a good supplier, too. The cheaper, the better, but only if they have quality supplies. Don't be lazy like lots of owners. It pays to do some searching.
Next, we'll tackle advertising. This is essential; you cannot go without it. Use newspapers, but stay away from television commercials until you have several restaurants. For now, it will cost too much money that could be better spent elsewhere. Use the local radio if you can afford it.
You simply must put systems in place. All the areas we talked about need their own system. Restaurants cannot grow without organized, solid systems. Sure, it will survive without them, but it won't grow. It must have a strong foundation.
Weak systems are analogous to cracks in a foundation for a building. The larger the building gets, the more pressure is put on those cracks. Eventually, the cracks will be so large the building will collapse. With a strong foundation, however, the building can be very large. Be sure your systems are strong!
Don't nine out of ten restaurants fail?
Certainly they do. Of course they do! They're started by great chefs, too! And, that is the problem. Why? A restaurant cannot be started by a great chef alone; it must be started by a great businessman.
Haven't you ever noticed that large restaurant chains often have food that is "just okay?"And, a lot of those restaurants fail, they often have great food. So, if we can learn anything from this, it's that improving the taste of your food is not the way to improve your restaurants.
Most restaurant owners make this mistake when starting their restaurant; don't make the same one. Remember, you can't just improve the taste of your food.
The taste of your food is just a little piece of your restaurant business. Let's talk about the rest of it. First, learn basic accounting; get a decent grasp on it. Lots of people will think to hire a bookkeeper, but don't. Bookkeeping is easy. You will hire a bookkeeper in time, but do it yourself while you have limited funds. Hire out the stuff that's hard.
There are many pieces of a restaurant; food is just one small one. To start building the other pieces, you should learn some accounting; you don't have to be an expert, just get a basic grasp. You might think that you can hire a bookkeeper, instead. However, you're better off doing it yourself while you have limited funds; there are other, more difficult things you should hire out.
You'll try to do most, or as many of the jobs in your restaurant as you can. The more jobs you do, the more money can be put back into your company. Eventually, however, you will hire out the work you are doing. For now, though, do as much as you can.
Next is inventory. Keeping track of everything in your restaurant is important! If you run it like your home kitchen, your restaurant will function, yes. However, it won't be able to grow much bigger than your kitchen. Make everything systematic. Write everything down.
You'll need to do a lot of work to find a good supplier, too. The cheaper, the better, but only if they have quality supplies. Don't be lazy like lots of owners. It pays to do some searching.
Next, we'll tackle advertising. This is essential; you cannot go without it. Use newspapers, but stay away from television commercials until you have several restaurants. For now, it will cost too much money that could be better spent elsewhere. Use the local radio if you can afford it.
You simply must put systems in place. All the areas we talked about need their own system. Restaurants cannot grow without organized, solid systems. Sure, it will survive without them, but it won't grow. It must have a strong foundation.
Weak systems are analogous to cracks in a foundation for a building. The larger the building gets, the more pressure is put on those cracks. Eventually, the cracks will be so large the building will collapse. With a strong foundation, however, the building can be very large. Be sure your systems are strong!
About the Author:
Cody Scholberg is an expert on money and writes for Many Money Making Ideas, a site dedicated to bringing you the best information on how to succeed in business. If you have a small budget, learn how to create a financial empire with smoothies.
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