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Have you ever owned or helped run a restaurant?
Topic Started: Jan 10 2008, 04:47 PM (555 Views)
Mikhailoh
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If you want trouble, find yourself a redhead
Tom, if you can get it done it will be a GOLD MINE. Even if all you get on International Drive is the overflow.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Frank_W
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Resident Misanthrope
CrashTest
Jan 11 2008, 03:37 PM
Frank, everything I do is done in Legos first. In fact I had sex with a Lego train before I had my first woman.

:hair: :eek:

:leaving:
Anatomy Prof: "The human body has about 20 sq. meters of skin."
Me: "Man, that's a lot of lampshades!"
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DivaDeb
HOLY CARP!!!
Franchise agreements and communications vary drastically between chains...so the answer to your question, Crash, is, "it depends"

Avoiding pitfalls is not possible. For every pitfall you avoid, you'll step in another, like the city deciding to improve the road that is the only access to your restaurant. Or you get sued when someone slips. Or there's a sexual harassment charge brought against that great guy who was the answer to your management problems. Making a go of it in any small business is just a matter of trying to keep a few steps ahead of the next inevitable potentially bankrupting disaster. Everyone who is in business for themselves has to have that sort of vision. It requires a level of personal involvement in every aspect of the business that is not everyone's cup of tea. Unless you like terrible hours, working holidays and weekends, and are willing to step in and do the dirty work even though you're the boss man, because you have customers and they have to be taken care of...you don't want to do this. It's hard. It can be worth it. We probably know close to 1000 restaurant owners through associations and I don't know *one* who wants to do it indefinitely. It's just too hard.
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Daniel
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HOLY CARP!!!
Crash, I have a feeling that this would not be the line of work for you.
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CrashTest
Pisa-Carp
Here's a question, what if you buy an already established restaurant? That way a lot of the start up issues are avoided - but I am sure the transition can be tough.

How much are most restaurants worth, let's say the average Italian Restaurant that is located in a decently popular area? Maybe the low millions?
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TomK
HOLY CARP!!!
Mikhailoh
Jan 11 2008, 04:41 PM
Tom, if you can get it done it will be a GOLD MINE. Even if all you get on International Drive is the overflow.

I know.

I have a restaurant property on I Drive--it's rented to a chain. They rent year to year, no big deal to get them out. I can have an option to the hotel next door--I actually would trade it for a motel I own in Kissimmee. I want to create a "mini" vacation theme hotel for people going to the main attractions. This would be a hit--I know.

Hojo hotel and Hojo fried clams and all of that. First time together in 30 years. The restaurant chain is all but dead, but they have so many conditions (and DREAMS) for a new Hojo--that we can't come to an agreement that would let me build an old fashioned restaurant/hotel combo.

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