Restaurant owners..

[WarEagleFL 0]

Is there anyone here who owns their own restaurant?

I'm in the process of putting my idea to paper and am looking for some advice from people who have experience.

Thanks.

[Tigermike 3,029]

I have in the past, but not now.

[WarEagleFL 0]

Any words of wisdom?

Nice sig by the way!

[DKW 86 7,425]

Any words of wisdom?

Nice sig by the way!

Owned two...

Quickest way to throw money away I know.

The hours are terrible. The rewards are few. You likely wont make a dime for at least 1.5 years.

I was approached a while back and I prayed about it. I could not do it. Competition is too feirce and the money not there anymore with the big chain fern bars.

The only way I would do it again was if I had the building and equipment paid for alrerady. I have the recipes and good food. The vendors will help you get great quick food to cook. Most restaurants are serving almost the same stuff anyway.

[texaubie 0]

Some of my in-laws own an upscale Italian/Seafood restaurant in south LA. They do pretty well with it but basically put their whole lives into it. The husband (chef) and wife (staff management) run the place and at least one of them has to be there at all times to keep things in order. Therefore, they can NEVER take a week off together and go on vacation. The longest they have left the restaurant together was for a 3 day weekend. They go in at 10 AM to get ready for the lunch crowd and leave about midnight. My understanding from them is that it is very difficult for them to find somebody they trust to run the place without them.

This is not meant to discourage you but just be aware of what you are getting into. Its a tough business.

[Tigermike 3,029]

WarEaagleFL,

Great information from both DKW 86 and texaubie. The only thing I would add is keep copious records, be willing to work long and hard. Be single minded in the pursuit of success and keep in mind the #1 rule of real-estate: Location, Location, Location! You may have a great idea, a great product and great employees, but if you are in the wrong location problems will abound.

Good luck!

PS - Let us know when & where, and whenever I am in Florida, we can come by and at least be four more customers.

[TrueTiger 0]

I'll be a customer 2.

WAR EAGLE FOREVER

I was planning on starting a business after I got out of school. I thought of a great name for my company. Since my major is wireless engineering, I was first going to name it (DWT) Digital Wireless Technologies but someone used my name. I then thought up another name (IWT) Innovative Wireless Technologies and someone took it also. This made me realize the competetion that would be out there and kind of scared me. I really doubt I am starting my own business now. Anyway, try your place out. Never know It could be very successful.

[WarEagleFL 0]

Great information by all. I was expecting some bad experiences with it. I have a very good friend who has given me advice about where to start. The first things to do are get market research done for your prospective location and get a business plan done to attract possible investors or to secure a bank loan. It has been a dream of mine for years now to have my own restaurant, but lately I have been really trying to make it happen. I've been through crappy job after crappy job and am pretty tired of it.

Any information by people with experience is what I'm looking for, good and bad.

Tigermike, definately. Desert is on the house

[SouthLink02 8]

Good luck with it. Have one friend who is trying to run a resturant in New Orleans and is having semi-success. Like DFW said, he is losing money but will eventually come around