90% of restaurants shut down in the very first year when they are launched. And you were thinking of investing in this business! Unless you have a solid reason to enter this industry, you better stay away from it. Just because it’s all glamorous and shiny, it does not have to be serene. Not everyone stands a chance in this tough game. The Restaurant Academy is here to help in your endeavor to make it big.
1.MONEY MONEY
The Restaurant Academy means ”Profit”. Somebody must have told you that the business is lucrative and so you thought of giving it a try. Is it that easy? The truth is, most restaurants do not see any profit before the 3rd year of business, which may also get extended to the 5th year in a lot of cases.
So, instead of building castles in the air, gather a massive sum for investment because success is still very far away my dear friend.
2. I CAN COOK
The Restaurant Academy means ”Passion”. You love to cook because your best friend and your family keep praising you. Appreciation brings an interest in work, no denying it. However, cooking for friends is quite different from cooking at the restaurant professionally for discerning guests, who are paying for the food. Will the guests shower equal amounts of admiration on your preparation? You better start doubting yourself. And I hope my sarcasm helps you improve for your next venture.
You have come to love working at the restaurant and now you are ready to have one of your own. Do a reality check beyond hefty salaries, uniforms, guests adorned in sparkling clothes and style. These just form the facade, the dullness lies beneath. Since you have started reading this article, let me tell you that the business will not let you rest, physically or mentally. Are you up for it?
3.LEARNING MODE ON
The Restaurant Academy means ”Ability to learn”. You will learn more about the industry as you work. This may be true for all types of businesses, except this one. Hospitality can be ruthless. If you press the pause button for a second, your success rolls down the hill. An employee might join a rival restaurant, a rival restaurant can send their own employee to spy on you, somebody might spread nasty rumours about you. Therefore, hoping that very soon you will turn into a connoisseur is the worst idea that came to your mind. You have to be ruthless to learn in an environment of cut-throat competition. Can you do it?
4.PARTY ALL NIGHT
The Restaurant Academy means ”Time to enjoy”. Do you really think you will have all the time in the world to enjoy your favorite beer and whiskey brand whenever you want? You are wrong. Let me clarify this, your business is like your child, and you will spend over 16 hours every day, including weekends, to see it stand out and shine. So say bye to your good old happy days, and brace yourself for a hectic journey ahead.
5.MY BRO ROCKS
The Restaurant Academy means ”Partnership with brother/friend”. A friend or a sibling is the brain behind your costly dream? In that case, do not make it your dream. Some people, while looking for an investor or a dedicated resource cum owner try to influence others. This other person is unfortunately you. An unsuspecting you might consider the venture interesting at first, but then lose all enthusiasm over time. Why? The answer is simple, you were never into it.
6. I AM SPECIAL
The Restaurant Academy means ”Niche”. We all think that our ideas are truly original. Surprisingly, many of us are probably thinking the same thing at the same time. Blame it on the population or easy communication in the 21st century, whatever!
If you want to glitter above par, create a niche for yourself in the market first. Let people get to know you. Becoming unique is not a child’s play and it takes a lot of experience, knowhow and intelligence to stand up straight in this path.
7.MY RULES MY GAME
The Restaurant Academy means ”Controlling”. Many of us start our own ventures with the misconception that once we have our own business, we will have full control over it and not be answerable to anyone. But, we all forget that God is the ultimate controller and he always finds a way to tell us that whenever we start a game, the rules change with time.
Your business, but you cannot be a dictator. A good leader is flexible, who understands the needs of the team members and values teamwork. So peek into your soul and ask yourself if you want to become a tyrant or a genuine leader. In the first case, your establishment will be a cage of depression, which will eventually close down. The second case might see you flourish. But again, this world is full of good leaders. You have to be better than the best.
8. I KNOW EVERYONE
The Restaurant Academy means ”The Role of Investors”. In new restaurant businesses, the investor ratio is 1:13. Unless you get all the money from charity and donations, investors are practically owners. They will want a profit percentage of your business. The higher the invested amount, the bigger the profit they enjoy! But if the return is nominal, how much will you have left for yourself after you pay them?
9.HELPING HAND
The Restaurant Academy means ”Help from friends and family”. Just like I argued that your brother or friend’s passion should not be yours, I do the same for their help. But, who am I to say anything? So this time, it’s your turn to dive into the moral science lessons from your school days. Remember what you learned about helping yourself and not depending on others. This is your dream and your journey.
10. PLAN B ON
The Restaurant Academy means ”Moving to other business if it fails”.Having a Plan B is the sign of a genius only if you have thought Plan A through and through with all its pros and cons. Plan A should be almost full-proof in order to take your business through thick and thin. Plan B is a contingency to be implemented when Plan A does not work. So, do not ignore the first plan if you want to succeed.
It seems I have snubbed your every excuse to start a restaurant industry. But my intentions are good, trust me! I am just helping you to be ready for the rough ride ahead. Check our second article for solutions to the problems I have identified in this article.
The Restaurant Academy offers deep insights into the nitty gritty of the hospitality industry. With years of experience, the writers of this blog have earned the knowledge and talent to help you in every step of the way. Whether you want to commence a restaurant business or become a part of the industry as an employee, we can assist you with our input.
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