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buying a resturant

post #1 of 6
Thread Starter 
On the brink of a resturant purchase today!!
I am looking for any last minute advice you
professionals may have. The resturant is an established neighborhood hangout,a country inn with an irish pub theme. Any positive thoughts for a scared beginner?
post #2 of 6
Lots of luck! Hope you did your homework and have a good idea of what it will REALLY take to keep the place going ($$$ and time & effort). :eek:

I hope the seller has either let you work there (or at least hang around every part of the operation) for several weeks already, or will be available to train you after the purchase goes through. S/he is your second biggest asset right now. If s/he is about to disappear, I'd wonder about the wisdom of the purchase.

Also: don't try to change anything YET. If the place has a following, there are good reasons. Give yourself time to see what they are, and THEN you can think about tweaking things to make them better.

Most important -- and this may be hard: try to calm the staff's fears that the change in ownership will mean staff changes. See paragraph above. THE CURRENT STAFF ARE THE ABSOLUTE BIGGEST ASSET YOU HAVE NOW. They know EVERYTHING, especially stuff that the seller doesn't.

I'm sure everyone here will be interested in what happens with you.
"Notorious stickler" -- The New York Times, January 4, 2004
"Notorious stickler" -- The New York Times, January 4, 2004
post #3 of 6
Thread Starter 
Hey, thanks for responding. Your comments are very appreciated. Actually I hope to quietly slid into place with little notice. The key staff have been there since the beginning(17years) and certainly know their positions. I have spoken to them all at the beginning of this adventure to be sure they would happily stay. All is good there. Owners willing to show me the ropes, (unless they hate my counter offer)
As far as the work load, all I can say is climate control.. I am from a completely different vocation. I operate a training facility for horses, and I must say the days do not get any longer or with less renumeration than in this activity.Cold in the winter, Hot in the summer!! But it did allow me to build enough equity to make an attempt in a business that appears to be slightly more financially rewarding.I love to be busy. And am used to a very physical job.
I am actually a painter by education, and consider the resturant venue performance art.
It seems like a wonderful canvas for creativity. With a wonderfully capable staff in place, I hope that an energetic and creative owner may be as much of an asset.
Current owners by their own admission are tired and unwilling to look for additional business.
I have a few ideas that might bring in additional revenue.
How do you pro's feel about brunch? (We have a catholic church one mile away from the resturant)How does faxing the local professional offices with lunch specials sound? How about sat. eve live entertainment.
(I have a connection with some Irish bands)
Well I admitt I am an absolute beginner in this business, but I have been in business for 15years. There cannot be a more fickle group than the rich equesatrian set. And I never them "see me sweat"
hopr to hear back
post #4 of 6
Dear Angelica:

I just wanted to drp a little note to wish you the Best for your new restaurant!

"Olio nuovo e vino vecchio"
"Olio nuovo e vino vecchio"
post #5 of 6
Thread Starter 
Thanks for your good wishes. These are certainly scary times.
I expect to experience many of those"thats not how we do it, burps"
I am hopeing logic will be the deciding factor, and if not hey my nickname is Angel, and I will grin and take it. I have this saying I apply to moments like those, it goes like this "in terms of a lifetime, it means little" Now don't get me wrong, I'm not a dope, just able to put the ego on the side when things simply are a battle of wills.
I spend every waking moment preparing for this transition, reading and studying the culinary world. Its a wonderful challenge to learn a second career.
A friend of mine gave me a book to read in hopes of scareing me out of this, but I have to admit, I loved the book and it did just the opposite.
Has anyone read Kitchen Confidential. I am sure you all have. Wonderfully candid account of this lifestyle. I appreciated the directness, and I love the passion that this man feels for the occupation. Passion is good.
Please keep in touch, it means alot.
signed--Out on a limb!!!
post #6 of 6
Wow! This is as exciting as SnakeLady's new bakery! It's great to see such entrepreneurship on Cheftalk. Angel, I hope to be in your shoes someday soon and start my own business in the culinary world. I wish you all the best in world. I hope that you'll find time in your hectic schedule to come visit us and give us an update on your progress once in a while. So many of us here would love to hear your experiences and live them vicariously through you. Again, good luck and hang tight for the ride of your life!
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