Jump to content

Panchango

A Restaurant Ruined My Life

Recommended Posts

I saw this the other day and just thought I would share...

 

Quote

I was a foodie with a boring day job who figured he could run a restaurant. Then I encountered rats, endless red tape, crippling costs and debt-induced meltdowns, started popping sleeping pills, lost my house, and nearly sabotaged my marriage

 

https://torontolife.com/food/restaurant-ruined-life/

Share this post


Link to post
Share on other sites

I'm no financial wiz but, I'm still picking up the red flags that flew around the room when I read, "I would be able to cash out $60,000 from my $130,000 pension". He blew threw that statement w/o any explanation as to why that was a good decision.

 

There are some many variables in starting a restaurant and areas where one must excel to ensure sucess that pulling the trigger on a startup is and should be daunting. You can literally do everything right and still have the business fail. The thing that always cracks me up is when a people decide to place a restaurant- often the same food genre- in the exact location where one [or five, in one case] just failed.

Share this post


Link to post
Share on other sites

Good reading article.   I was approached for potential baking business.   Only question I forgot to ask was staffing levels needed.  Because I have seen a few failed restaurants in my area I made a list of questions I needed answers for before I would even consider it.    

0E75CDF8-F3C7-4E5B-BEAB-56BE66890B69.png

61B4F0CC-939D-432E-84D3-58DB7806EE0D.png

77DEE401-F4A5-4F64-B3A4-29A68EB8D0EE.png

Share this post


Link to post
Share on other sites

Wow

Calling him an idiot seems like a bit harsh considering what he had to go through and where he eventually wound up, but his choices all throughout the ordeal do make me question his decision making skills.

 

I've often had the romantic notion of owning a bar. Pulling pints for Blue Collar guys in a simple neighborhood. 

I'm smart enough to realize that romance and reality seldom line up though

 

I feel bad for the dude, but maybe if he'd spent less time watching masterchef and more time looking into business and financial management, this could've ended differently  

Share this post


Link to post
Share on other sites

Over on the BBQ Brethren forum there is an epic thread following the story of a forum member that decided to open a BBQ joint a few years ago. The fellow was pretty open about all the effort and problems involved in getting started. His restaurant (The Prized Pig) was a success for a few years and he was looking at opening a second location but it all took a toll on his personal life and he closed down suddenly early this year.

 

A recent update from just a few days ago was in a newspaper article mentioning that while he is not opening up another restaurant himself he will be the pitmaster for a joint opening in a few months. I've followed the thread for a few years and was surprised by how emotionally invested I became in his journey and am very glad to hear that he is getting back into the game in some capacity and hope that he has worked some of the other stresses in his life.

 

The thread was an interesting read and anyone thinking they might want to open a restaurant should give it a read.

 

http://www.bbq-brethren.com/forum/showthread.php?t=161123&highlight=open+restaurant

 

The new joint - Fat Cap Smoked Meats - https://www.southbendtribune.com/marshallking/new-bbq-joint-fat-cap-to-open-in-roseland/article_5fe108bf-28b0-5949-ac0a-41a6ed6f754d.html?utm_medium=social&utm_source=facebook&utm_campaign=user-share

 

 

Share this post


Link to post
Share on other sites
On 11/9/2017 at 12:14 PM, CentralTexBBQ said:

I'm no financial wiz but, I'm still picking up the red flags that flew around the room when I read, "I would be able to cash out $60,000 from my $130,000 pension". He blew threw that statement w/o any explanation as to why that was a good decision.

 

There are some many variables in starting a restaurant and areas where one must excel to ensure sucess that pulling the trigger on a startup is and should be daunting. You can literally do everything right and still have the business fail. The thing that always cracks me up is when a people decide to place a restaurant- often the same food genre- in the exact location where one [or five, in one case] just failed.


Yep, the biggest factor in being successful is location. Crappy restaurants can last forever in good locations and great restaurants go under all the time because they are in the wrong place. The really good restaurants spend a ton of time and money to find the right locations and the ones that go under lease the place that is already built out (because the previous place failed) in order to "save money."

 

Ironically, if you want to know a good location for a restaurant, a general rule of thumb is find a McDonalds. They have a reputation for doing the research so there is a really good chance that's a great spot (if you are just curious what a good spot looks like.) 

 

Share this post


Link to post
Share on other sites
1 hour ago, Baby Back Maniac said:


Yep, the biggest factor in being successful is location. Crappy restaurants can last forever in good locations and great restaurants go under all the time because they are in the wrong place. The really good restaurants spend a ton of time and money to find the right locations and the ones that go under lease the place that is already built out (because the previous place failed) in order to "save money."

 

Ironically, if you want to know a good location for a restaurant, a general rule of thumb is find a McDonalds. They have a reputation for doing the research so there is a really good chance that's a great spot (if you are just curious what a good spot looks like.) 

 

 

Yeah, the shortcut for Churches, restaurants, etc. is find a McDonald's, a WalMart, a Costco or a Target. They not only indicate good locations but also typically identify areas that are 'building up'. A Walmart was built near me about twenty years ago and several small and large stores popped up around it. Ten years ago, that Walmart moved 1 1/2 miles north. Many of the smaller stores then failed, some of the larger stores suffered, while the area around the new Walmrt location exploded.

 

I also have to agree with @Polar Bear, there are several other questionable decisions as I read through the article from assuming that people liking his food at an underground food market in which he lost money, warranted expansion into a full blown business; to wasting the opportunity to learn anything of value 'interning' at his friends restaurant; to choosing his location 25 minutes away from where other similar restaurants we successful, etc.

 

@daninpd, I look at it this way- there is a vast difference between cooks and those who like to cook. One refers to what you do; the other to who you are. For that type of person- a cook, cooking can never be a chore. However, navigating the daily demands of running a business and all that entails is a whole other ball of wax.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

×
×
  • Create New...