To be a winner in today’s economy requires considerable experience, planning, financial support, and energy. Successful restaurant offers a reasonable return on investment. Talent and temperament correlate with restaurant style. Managing a quick-service restaurant is quite different from being the proprietor of a luxury restaurant. The person who may do well with a Taco Bell franchise could be a failure in a personality-style restaurant. Each choice makes its own demands and offers its own rewards to the operator. This book shows the logical progression from dream to reality, from concept to finding a market gap. Along the way, it gives a comprehensive picture of the restaurant business.
The restaurant industry totals $899 billion in sales (2020). A restaurant with a million-dollar sales volume per year can generate $150,000 to $200,000 per year in profit before taxes. A failing restaurant, one with a large investment and a large payroll, can lose thousands of dollars a month. A number of people go into the restaurant business simply because the work environment is always upbeat and constantly changing. The restaurant is a social exchange satisfying the needs of people with a high need for socialization. For many people there is too much social interplay, which can prove exhausting.
People who are especially fond of food and drink may feel that the restaurant is “where it is,” or at least available at reduced cost. Restaurant owners write the script, cast the characters, and star in their own show. Opening and operating a restaurant takes dedication, high energy, ambition, and a few other ingredients discussed throughout this text. It can also be fun to be a continuous part of the restaurant experience, even if it’s just a few hours a week or a few weeks a year. It’s a great way to meet new people and make new friends, but it can also lead to loneliness because of the long hours.
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References
https://www.chegg.com/textbooks/restaurant-concepts-8th-edition-9781119326106-1119326109
https://restaurant.org/downloads/pdfs/research/soi/2020-state-of-the-industry-factbook.pdf