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Over my head...please help!

post #1 of 10
4/18/07 at 5:00pm
Thread Starter 
I'm in a bind here folks. I might well be at the cusp of getting the chance to have my "Dream Restaurant," only thing is I totally feel unprepared. I'm a good cook. I'm organized and forward thinking. I'm a hard worker. I'm not a head chef. I'm not ready to be Sous (well, at any place I'd want to be sous). From my previous career I have copious experience in management and staff supervision. I can do payroll, banking, all that crap that actually sucks up time from doing your "real" job. I have pretty firm ideas about what I would want to do in a resto and what I can offer my patrons. But I lack the experience.

The chance to buy a place, I mean actually have my name on the deed, has come up. And its perfect, exactly the sort of location and market I've always wanted. My wife and I have been planning on buying a house in roughly the same area and this building has two apartments above the dinning room. And its cheap (realitively) for the area. In fact cheap enough that we could move in without being in a big panic to open quickly and start turning a profit. I could take my time to build a menu and a buzz.

The Mrs.'s and I are also in a pretty sweet spot. She's a lawyer (admittedly, at the start of her career) and has a pretty good and stable income. All I have to do is break even for for the first while. But I feel totally over my head.

I don't even know what kind of advice I'm looking for but anything that can be advised would be appreciated.

Thanks,

Al
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post #2 of 10
4/18/07 at 5:23pm
Given your lack of confidence, perhaps the best bet would be to hire a chef. You could then learn from him/her how to actually run the kitchen.

Later on you could take over or not, as things work out. Or keep the chef and just operate as the GM.
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post #3 of 10
4/18/07 at 6:05pm
+1 Food and labor costing, or the lack of skill in doing it can kill any restaurant.
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post #4 of 10
4/18/07 at 6:58pm
Um, well, usually I would say err on the side of caution, but if you are fairly confident that your wife will maintain a stable income, and you guys can afford it and move on if it doesn't work, then I say go for it.

It seems like a da mn near perfect set up, and you can save money on various legal costs per your wife, then do it. If you were in a position where it was life or death, do or die, then I might be cautious, but if you can take the chance, then take it.

Man, I'm jealous. Of course you will be over your head, but, there is a great quote I heard somewhere, don't remember who it is, but it's (paraphrased) "It is so much to be a king, that one is only so by being so."

What kind of place are you thinking about opening, BTW? I want to hear more about the "vision" so to speak.

Good luck, keep us informed.
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post #5 of 10
4/18/07 at 7:29pm

I think we all are looking for that spot--

Sounds like the right place and you can make it the right time. Is there a hurry to decide?
I think KY is right, find a chef, and depending on what his or her needs and dreams are, maybe offer him a %???? But you first do need to decide what direction you are headed. Seems like you know the area, what will work?
I covet your position!
Good luck,
Nan
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post #6 of 10
4/19/07 at 1:07am
Allen-
Since you don't have the time to enroll in a culinary management class- I'd suggest you start by seeking out some books that might give you the info you need for setting up a restaurant. You need to learn about menu planning, food costing, agencies you have to appease, setting up suppliers, setting up your kitchen, etc.... Usually the first step in all of it is a basic idea of your menu..... that dictates the type and style of your restaurant, the decor, the equipment needed in the kitchen, staff needed, etc. You didn't mention whether you had the capitol to start up or if you were having to package a loan..???
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post #7 of 10
4/19/07 at 2:56am
Thread Starter 
Wow, thanks so much everbody. I've only got a moment before heading off to the kitchen but I'll elaborate a little.

The place is a converted house in mixed residential/commercial zone. It has two appartment above the dinning room (about 50 seats when the deck is open). Come fully equipt. I have yet to determine how "full" fully means here.

We would have to get a mortgage to buy the place. The thing is were going to do that anyway, just for a single familly dwelling. And we were expecting to go way further in the hole for that.

My lack of confidence is not so much management or cooking but more in dealing with local vendors (who my contacts with have dwindled) and local regulations. I was a Librarian for ten years though, so it shouldn't be much of a strech to suss all that for me.

The beauty of this would be that, actually having the place as a home would allow me to take the time to set all this up right.

Thanks again, I'll check pack in ten hours!

--Al
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post #8 of 10
4/19/07 at 4:44am
I would pay people for their opinions. Just put aside a coupla thousand bucks and pay a few chefs for their expertise a hundred bucks at a time.

Get together a board of directors from other succesful restaurants.
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post #9 of 10
4/19/07 at 5:51am
yep worth every penny......just think of all the learning curves you'll miss out on by picking up others' experience.
hmmmm prior to coming up with a menu, think about whether you want a cook or a chef coming in......and if the kind of spot you're thinking of with 50 seats when the patio is open (4 mos?) will fiscally sustain a higher salaried employee.
Cool. sounds like a fun adventure.
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post #10 of 10
4/19/07 at 5:11pm
Thread Starter 
Well, conflict averted. I've already been outbid. Still, the last 24 hours have been a majour learning experience. I'm impressed with what I was able to come up with by way of a business plan and menu in less than a day (while working, cleaning toillets and walking dogs!). This really has been a boy scout lesson in "always being prepared" if nothing else. Thanks to everybody who gave such great advice and rest assured I'll be thinking on it in the future. My next thread (promise!) will be pithy and fun.

--Al
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