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The Complete Guide to Buying a Restaurant Practical Advice to Get It Right von Reid, Craig (eBook)

  • Erscheinungsdatum: 30.10.2013
  • Verlag: BookBaby
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The Complete Guide to Buying a Restaurant

Do you need expert help with buying a restaurant? Do you want to make sure you don't make the mistakes that will cost you money and heartache? In this practical book, top business consultant and former restaurant owner Craig Reid explores issues, such as choosing a location, assessing your own lifestyle desires, and most importantly entering the industry with a realistic and informed attitude.


    Format: ePUB
    Kopierschutz: AdobeDRM
    Seitenzahl: 150
    Erscheinungsdatum: 30.10.2013
    Sprache: Englisch
    ISBN: 9781483511948
    Verlag: BookBaby
    Größe: 317kBytes
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The Complete Guide to Buying a Restaurant


The Dream

So you've decided to run your own business and for whatever reason, you already know what you want to do. Maybe you baked with granny in the kitchen when you were growing up, maybe you've always loved coffee, maybe you like dealing with people, maybe you just think that it looks cool. You want to run your own business, and that business is going to be a restaurant. This level of passion is essential.

We, as human beings, tend to look for the sunshine in our lives, and if we don't have the sunshine, we look forward to better times when the clouds part and the silver lining is revealed. You are already looking up at the clouds at this stage and thinking of that silver lining...

What we've all dreamed of...

You will have time to choose your hours / days of work, shifts, etc. You will put in a hard day's work to run your business so that you can have a "better lifestyle" with less stress and more personal satisfaction in what you do. You will also earn more money, which will bring you a better standard of living and more personal enjoyment of your free time.

At work you will be relaxed. You will be an excellent leader of your staff - a dependable bunch of people - maybe family, maybe a partner or friends. You will oversee work of your staff whilst talking to customers, often sitting down with them to enjoy a coffee.

Your supplies will file in and be spirited away by enthusiastic staff whilst customers will congratulate you on your great food, reasonable prices and great service. At the end of the day you will cash up and smile as you count the takings. Your staff will call to you, "Goodbye sir, thank you" as you leave early to let them close up your beloved restaurant. You drive home on top of the world, eagerly awaiting another great day tomorrow.

Well, that's the dream isn't it? I don't expect that many people believe this version of events, but I will tell you in all honesty that some have the perception that this is what life as a restaurant owner will actually be like - and it isn't.

The truth is that running a restaurant is a mixed bag. There are great days and there are days you wish you had never got out of bed. Let's think about that for a moment. Let's think about why you want to run your own restaurant and contrast that with the likely reality.

Why you want to run a restaurant

The likely reality

"I want a better lifestyle"

Running a restaurant is a labour- intensive business with low profit margins and often the best performing restaurants are those with owners who work long hours. A restaurant can bring you flexibility but you must always remember that when you are not there, there is an additional wage to be accounted for. Owners also have a significant amount of other business duties that aren't restricted to the restaurant's opening hours.

"Money! I want to earn more money!"

Restaurants are often low margin businesses and can provide a good income if you can get all of the success factors right! You will not become instantly rich.

"I love food / coffee / alcohol and want to work with it; it's my driving passion!"

A passion will keep you going in tough times but running a restaurant is still hard work.

"I can't do anything else and I want to be my own boss"

A restaurant requires great all-round skills. You have to be good at customer service, physically adept, good with

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