opening a restaurant

[powers]

So I guess your trip inspired you a little? I have only been a small partner in a restaurant as Exec Chef. I did very little when it came to deals with investors, choosing computer systems, ets. I did however particapate in all other opening and managing aspects. I learned so much doing this. The restaurant has since been sold, but most of the systems that our team set up are still in practice which makes me think we did something right.

As far as the other comments, you already know about the hours, hard work and all the other things that "normal" people don't understand haha. The one year capital, hiring front of house manager, and preparing yourself for possible failure are all things that you can read about in any small business owner book. It took me a few mistakes before I realized that no matter how good I am, how hard I work, I can't do it on my own. I need someone with as much experience (if not more) and most importantly as much passion as I have or it won't work. I am a perfectionist too but there are times when I have to step back and put faith in others. As a partner, I have to abdicate some control at times. The reason I have a partner is to HELP me, not to be my personal assistant. No matter what the outcome of your business is, it's all a learning experience. You can go to business school and h&r management but until you do it for yourself, you never really know.

I am glad to hear that you are doing this, it's been bouncing around in my head lately as well. I hope that you'll let me know when you open and I'll come to canada and have lunch or something . Let me know if you want to discuss further, I've bee brushing myself up lately on opening another, but this time as primary owner, with a FOH smaller partner.

[greggourmet]

Originally Posted by emhahn

I could go on and on with wonderful advice, but I'll limit it to just a few key points:

1. Be ready to take on a new marriage.

2. Be ready for long hours, low pay, and hard work.

3. Be ready to compete.

4. Be ready to be a babysitter (being a boss).

5. Be ready for the unexpected.

I know this all sounds vague, but anyone who has 'been there, done that' will agree these five points are just a beginning.

Not trying to discourage you, just pointing out some simple facts ahead of time!

Eric

Glad to see that it's the same everywhere in the world (specialy for point 2 and 4).


Greg
http://www.mondegourmet.com

[Laprise]

Originally Posted by Brittany

Is there any good literature out there that I should maybe read?
Basically, any advice?
Thanks guys.

READ THE BIBLE

because you will need GOD on your side. Did you know that restaurant occupy the number one spot for bankrupcy in AMERICA!

50% of all restaurant will close doors within the first 3 years!


good luck!!

[Mike2212]

On the business side of things visit a local small business development center -asbdc-us.org or SCORE -score.org (sorry I cant post url's yet) to help with the business planning and mentoring. They are a free service to help start businesses.

Good Luck!