Ah, so you want to be a restaurant owner (or maybe you are one). Great! Well, you don’t need me to tell you this, but I’m going to anyway: strap on a helmet and get ready.
Aint Nobody Got Time For That
It’s no secret that running a restaurant is hard work. In fact, most restaurants fail within the first year. But if it was easy, everyone would do it and where’s the reward and sense of pride in that? Whether you’re a restaurant owner already or you’re thinking about opening up the next great Italian restaurant, you know these 5 struggles are all too real.
1 – The hours are oh so very long
90 hour work weeks? Bring. It. On. That’s what every restaurant owner knows to be the answer to long hours. You have to embrace it and that starts with accepting it. The road to success is paved with a lot of long nights, but it’ll be worth it.
2 – The financial experience needed is aggressive
If accounting wasn’t your best subject in school, it’s time to find someone whose it was. Restaurant owners typically need to have some kind of experience with basic accounting – you’ve got to know what’s going on with the money to determine how to make a profit.
3 – The economy is unpredictable
Speaking of profit, the economy is going to have a huge hand in whether or not you make one. Whether or not the economy is in a good enough place that folks are dining out regularly is out of your control, but paying attention to things like inflation help you make good business decisions.
4 – The competition is fierce
There are over 600,000 restaurants in the United States. Chances are that some of them are going to be nearby to yours. The key to succeeding despite all the “noise?” Keep your unique values front and center… and let guests know about it.
5 – You’ve gotta have passion
If you’re going to work long hours, dig into cooking, finance, and even marketing, you have to have one thing: passion. With that, everything else seems like a piece of cake.
The Light At The End Of The Tunnel
Despite all of the struggles that restaurant owners face, it’s a great time to be in this industry. With last year being the first year in history that consumers were spending more money on dining out that groceries, there is certainly a cultural shift towards restaurants.
Nonetheless, sometimes you might feel like you’re alone out there, and for that we’ve launched a free kit you’ve got to get your hands on.
Inside, you’ll find:
- The Ultimate Guide To Restaurant Staff
- Restaurant Social Media Checklists
- The Ultimate Guide to Restaurant Reputation
- How To Master Instagram for Your Restaurant
- The Psychology of Menu Design
- The Ultimate Guide To Restaurant Marketing
- As well as 12+ printable worksheets and templates to manage your restaurant operations