The Restaurant Hack
The Restaurant Hack – What you need to know about starting and running a successful restaurant.
Sure running a restaurant is a sexy idea, but what is really required of you to take your concept to inception. Running a successful restaurant can be really hard, and seemingly impossible at times. It requires a significant commitment. The average restaurant has a bottom line of five percent and most are prone to fail within the first three years. Still with over 960,000 full service restaurants, many are inexorably drawn to the fantasy of owning their own.
In this blog series we are going to break down the building blocks of owning and running a successful restaurant. Even if you have a steady flow of customers you will find some critical information and staggering facts that you can use to help take your venue to the next level.
Break down of this blog series:
- Legal Structure – Choosing the right business structure that meets your needs.
- External Threats – What are they and how can I mitigate them?
- Business Model Generation – Breaking down the different restaurant business models
- Technology – What technology can I not live with out and which ones make my business more efficient?
- Important Performance Metrics – Top performance metrics and what they mean to you
- Startup Costs – How much will this cost me?
- Sourcing Supply - Suppliers demystified