What advice can you give to someone trying to open their own Resturant / Bar?

My family is in the restuarant business, for 75+yrs. We have owned,worked at, or managed 30 restuarants. I also tried to open one arrogantly on my own, at 23, and I lost ti before I was 24. Make sure you have enough capital to survive a yr. If you are getting a loan, you need to have the money for the loan. You need money for the estimated taxes, food, payroll, and utilities for 6 month to a yr. You have to be prepared to work 24/7, for a yr. And at least one other empolyee, or partner who will do the same. Get a good accountant. Rent first month to month if you can find it, or 6 month lease. When you get your restuarant going then think about buying a building. You will also need a good cook. If he is really good he might be your partner. Figure out your base foods and what kind of reatuarant you want. Then stick with that theme. In europe I love the restuarants there. they would have only 10-12 items on going, but everyday they would make a different dish. Fish, lamb, roast beef, Veal, Shepards Pie, ect. When it was gone that was it. Good luckWhat advice can you give to someone trying to open their own Resturant / Bar?
RECONSIDER !!!


My two nephews did that years ago. OMG!!! Worked 24/7 and could NEVER find dependable, capable help.





Frankly, I'd rather be a prostitute. At least I could lie down while I work.What advice can you give to someone trying to open their own Resturant / Bar?
DONT. The average life expectancy is well under 2 years. Unless you know something millions of others dont there is very, very little chance of success and profit!
Very risky business. Theft by employees a big problem to. Have enough cash reserve for a one year carry.
be careful.......
Buy an existing one or a franchise