Business Ideas?

Question

Hi Guys,

Anyone got any ideas on setting up a restaurant? I've got no experience but would like to start my own business and was thinking about setting up a restaurant.

I'd like some feedback or view on this.

Thank you.

Answer 1

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* The Restaurant Business Start-up Guide by Paul Daniels
* Restaurants That Work: Case Studies of the Best in the Industry by Martin E. Dorf
* Restaurant Financial Basics by Raymond S. Schmidgall
* Opening a Restaurant or Other Food Business Starter Kit: How to Prepare a Restaurant Business Plan and Feasibility Study by Sharon Fullen
* Upstart Guide Owning & Managing a Restaurant by Roy S. Alonzo
* The Restaurant Managers Handbook: How to Set Up, Operate, and Manage a Financially Successful Food Service Operation by Douglas Robert Brown

New York Specific:
* How to Start a Business in New York by Paul W. Barnard, Mark Warda
* How to Start a Business in New York by Entrepreneur Press

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

Be prepared to work very long hours and fo a lot of ups and downs. Make sure you have a passion for it before you do it.