Posted by CWLewis 6 years ago In:

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CWLewis
CWLewis Asked:

Learning to run a restaurant

A friend of mine is trying to convince me into opening a restaurant together. I turst him completely and he has some excellent ideas, but neither of us has experience in managing a restaurant and I want us to be 100% ready beofre we go ahead.Are there any crush courses in this field, or even some website, or any other resource, that teaches how to run a restaurant?

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Best Answer

eran.arkin
eran.arkin Answered:

I think open up a resturant without any experience would be a serious mistake. First, you have to ask yourself why do you (or your friend) want to open up a resturant. Maybe you already have done that stage so want to know where you can gain experience. The best way, from my point of view is to get a job in the industry, to see how things works (or don't work) from the inside. no matter if as a waiter or a general worker in the kitchen. In that way you will able to see what is the dynamic inside the industry, you will get to know what works and what doesn't.

After or even during this stage, which can take a while, you will have to make a bussiness plan, (i'm sure that on that issue you can find a lot of material!) and then to see if you can raise the fund to start the bussiness.

then come back and ask some more questions here!Wink

Good Luck!

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All Answers

dahowlett
dahowlett Answered:

Opening any business without experience or knowledge is little short of suicidal. This market is incredibly competitive so unless the concept is absolutely stand out then I'd give it a wide berth.

Having said that, I'd earnestly advise getting solid financial advice. I'd look for an accountant and/or lawyer with bags of experience and ask them a number of simple questions - eg: 

  • What are the start up costs for the area in which you're thinking of operating?
  • Are there untapped niches/specialties?
  • What are the anticipated gross margins in this area?
  • What are staff costs likely to work out at? 
  • What are the typcial other overheads I need to consider?
  • How do I control costs/wastage?
  • Who are the most  popular suppliers in this area?
  • What are the tax implications for employing staff - eg what's the law on tips?
  • What is price competition like in the area?
  • Is there demand for additional eating establishments in the area?
  • What about location?
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