The right fit to open a Restaurant

The right fit to open a Restaurant

I recently met a potential new client who wanted to open a new restaurant. She was bright and intelligent and had interesting concepts and plans based on new trends. Before having a family, she was a top executive in a corporate firm employing 1000 employees.

She had 200k available in funding and was eager to get started.networking

One of her concerns was, how she could juggle her three young children as they were with child minder, pre-school and junior school.

Another concern was, could she take a wage as soon as the company bank account was opened. Not when the restaurant opened, but when the bank account opened.

The other, more worrying concerns for me were, she had a team of architects, designers and contractors lined up to create this new restaurant, but no experience in the industry.

Based on her trend concept, she had ideas who her target market might be, but no idea where the location of the restaurant was going to be, therefore, no idea if that target market was in the location of the restaurant.

She was going to fly the head chef in from Singapore and house him in Dublin City and he was going to create the menu.

She also did not want to be involved in the day to day operation, as she had a family to attend to, her primary interest was creation.

For this lady, a restaurant is not the path to explore, her corporate environment experience suggests lots of people on hand, the funding she has available is not enough and the bank are not willing to loan to inexperienced restauranteurs, her lack of time and commitment would crucify any effort made by her team and you cannot employ a chef from a hot country like Singapore and land him in Dublin where he has never been, knows nobody, and has no experience with the Irish customer or supplier. Notwithstanding the costs involved of hiring him.

There are many kinds of people interested in opening restaurants, I have highlighted this in my upcoming book, due out this year, however, successful restaurants require the operator to have some interest in the operation and have some operational experience. Opening a restaurant is not like buying shares, where you buy, do nothing and hope they will increase in value. Restaurants require time, effort, learning, sacrifice, dedication, commitment and hard work and with all these combined, you have a reasonable chance of success.

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“If I have no Honour or Integrity, then I have nothing”

David Ellis