The forbidden Resturant biz?

searcher profile

March 29, 2024

by a searcher in Raleigh, NC, USA

We all know the success of the restaurant biz is very low for the average (maybe that is why they sell often).. But as a sector, my wife and I are considering going into the field either to start one ourselves or buy existing ones and make adjustments. Any thoughts or suggestions? Maybe someone who has been in this space is willing to have an e-coffee?

We are family-focused and values-based and want to specifically offer holistic foods for health. My wife is specifically from Asia and has a lot of natural medicinal knowledge so we would like to expand our restaurant to a pseudo-health clinic. Feel free to ask questions- poke holes- and offer resources/recommendations/connections. We are hoping to help others more than ourselves. That's a legacy :)

Best,
Vincent

0
2
61
Replies
2
commentor profile
Reply by a searcher
from University of Wisconsin in Los Angeles, CA, USA
The biggest challenge with restaurants is they are a "passion" business, Many people go into the industry because they love food and restaurants, and because they are doing what they love, they are not always focused on making money. For that reason, competition is intense. From a business standpoint, in addition to competition, labor and staffing will be tough given the tight labor market.

Many people do make significant money in restaurants but I would make sure it is an industry you enjoy, so you are willing to put in the time and the work (many of your competitors are!), and also research your local market and to do something unique or better than competitors, and that would also be appreciated in your market.
commentor profile
Reply by a searcher
from Indian School of Business in Raleigh, NC, USA
Be sure to look at quality of life. All of the restaurant owners that I met while searching worked crazy hours (as high as###-###-#### per week) including weekends. If they hired a manager that would eat up so much of their profits that it was difficult to sustain. So whichever way you look at it, be sure to factor the lifestyle into your calculation. Best wishes and good luck!
Join the discussion