Monthly Archives: April 2011
But it just adds fuel to the media frenzy for reporting on restaurant failures and gives more ammunition to the people who like to claim that starting a restaurant is an inherently risky venture.
If you read the article you will see that the reason it closed was a dispute between the partners. This is a very common problem in restaurants but it has nothing to do with the concept of opening a restaurant and everything to do with poor business planning.
Few partners really sit down beforehand and hash out the details of responsibilities, work hours, work styles, vision for … Keep reading
Actually, the secret I’m revealing here via another article that picked up the quote applies to a lot of things in life not just being successful with your restaurant business plan.
The quote comes from the founder of In-N-Out, one of the most successful restaurant chains, ever. How successful? You really can’t think of anything they do wrong. And there are so many things they do right that are the envy of just about everyone else that owns a restaurant.
They have long lines just about the entire time they are open- they have got to have one of the highest sales per square foot ratios going even with the average meal only costing about $5, only they don’t … Keep reading
Nothing will ruin your hard work and effort in starting a restaurant than letting someone get sick from the food they ate at your place. It took Jack-in-the-Box years to recover from their incident, and they had the resources of a huge company behind them. Very few independent restaurants could survive the same kind of loss of business as a result of food borne illness.
Fortunately, making sure your restaurant is a safe place to eat isn’t that hard. All it requires is regular vigilance, a solid understanding of safe food handling, preparation and storage and a dedication to doing it right. It also requires the right attitude- namely that any time there is the least doubt you toss the … Keep reading
The original title of this article was “Restaurant entrepreneurs gamble on success” which goes to show the attitude of the general public toward the restaurant industry and the idea that it is a gamble to open a restaurant rather than a smart and well planned business decision.
Then, when you read farther into it the article, you see quotes like this from actual restaurant owners that only serve to accentuate the idea: “I failed miserably,” she said. “Sometimes you don’t take into account the food costs and labor costs.”
We’ve covered this tablet computers in restaurants trend before. My feeling is still that although tablets may work as an aid to the waitstaff and it may work as an order taking device in some niche concepts that are going to design the entire experience around them it isn’t going to work very well just plopping an iPad at every table at any old place and hoping for the best.
There are lots of hiccups with an approach like that and it will certainly be more of a turn off than a boon to many demograhics. Know your market and what they want and what is going to get them excited and you may be able to integrate such a … Keep reading
I’ve covered a lot of details on how to obtain the money to open a restaurant as part of the restaurant business plan package and some of the things I talk about there are brought up again here. These are points that are simple and important but often overlooked by people doing it for the first time and not familiar with the fundraising for business landscape.
All three points can come down to this: not all banks are created equal. Some of them, often the biggest ones, are basically playing by a standardized rule book where you either fit in their mold or you don’t. No amount of common sense or logic is going to overcome their fill in the … Keep reading
Although we are used to hearing about how poor students are and how the price of education keeps going up the reality is students spend a lot of discretionary income on food and if your restaurant marketing plan is set up to get a share of those dollars you could be sitting pretty.
The trick to attracting the student crowd is to offer something they want in their price range and make it inviting for them to come and get it. This won’t work for everyone but if your concept is amenable to WiFi, people sitting at tables for a few hours straight and in an area where you are likely to get a student crowd this could work for … Keep reading