Running a Restaurant

Owning a restaurant is probably the #1 business idea I hear from the people I know. I always recommend against it. Restaurants are management intensive, and usually require at least a year to reach profitability. But if you really love it, then maybe it's the right business for you. Forbes has a special section on restaurants, which seem to be one of America's business obsessions.

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  • Yes Rob,
    I admit that opening a restaurant business is a very popular idea. I live in Bangladesh.In London there are lots Bangladeshi, who are from Sylhet district are engaged in restaurant business. They are making lots of money.

  • In the many years I’ve been a consultant/coach, opening a restaurant is the bad idea I’ve heard most. Most of the folks who proffer it as a success strategy have never worked in a restaurant of any kind, the ones that can cook don’t understand the difference between being a great restaurant cook and being a great cook at home, and the ones who want to open upscale places often don’t understand the difference between the skills needed in the front and the back of the house. Hardly anyone who hasn’t worked in a restaurant understands the time commitment. I always told folks with this idea to go work in a restaurant for six months and then come back if they still thought it was a good idea.

  • My wife is a biz broker, and restaurants are her biggest movers. The single biggest mistake people make with them is underestimating how time-eating they are. As long as you run a restaurant, you will have no weekends or vacations, forever. After this, the biggest mistake is thinking they can run it absentee – the hunt for the nonexistent highly skilled management team that’s cheap enough to not eat all the profit is the downfall…