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Mar05

So you want to start a restaurant/café?

(05 /03 /2012)

Wow. That was amazing, that was the best meal I have had in a long time, you have a great talent in hospitality you should have your own place.  That seems easy, everything seems to just flow.  We should open a restaurant!

And then the emotion sets in and the need for a sea change kicks in. Over the years I have heard this and I have seen some success stories and also seen some tragic ends, so before you set out on the new road of  your calling, research and research some more and just don’t assume that  all will be great and the biggest of them all is leave your emotions at home

Research specifically the following:

  1. Market research – Find out what is happening within the area that you intend to open your business; what people are after in that area; what the plans are for that area.
  2. Spend time in a restaurant – If you are new to the industry, firsthand experience in an existing business will tell you if you will indeed enjoy the business you are about to open.
  3. Leave your emotions at home – be willing to walk away from a negotiation or deal if it doesn’t make sense.  Be able to objectively look at what you are getting yourself into as opposed to making the decision based on emotion.
  4. Surround yourself with the right people – even if you have experience in the industry, your chances of success will be improved if you have a support network that consists of strong industry experience (and that means having more than a good accountant and solicitor – but you need them too).

As someone has said to me before “assume nothing”.  The old saying is that “assume” makes an “ass” out of “u” and “me”.


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