“What a dinner party! You should open a restaurant!”
Have you ever heard this or something like it? Truth be told, very few people should open a restaurant – not your wife who throws a great dinner party, not your son who graduated from culinary school last year and not your niece who bakes “all the cakes and pies for the family parties”.
If I sound less then enthusiastic about the success of opening a new restaurant, it’s because for over thirty years I’ve watched people’s dreams of having a thriving food business go up in smoke. The only people that should open a restaurant are seasoned, food-service- experienced and business-trained, well-funded, young, highly motivated crazy people!
Eight out of ten restaurants will close the first year. Out of those two survivors, one will close in the next five years. There is a plethora of reasons for their demise. The most common are underfunding, lack of experience, or just not good or interesting enough food to attract a steady clientele in a highly competitive market. The ones that close in the following five years will have landlord, partner or chef issues and the word “money” is almost always in those conversations.
Don’t get me wrong, I love restaurants. I love restaurants by great restauranteurs like Keith McNally, (Odeon, Balthazar, Morandi,) Danny Meyers, (Colicchio and Sons, Gramercy Tavern, Union Square Café,) or our own local restaurant juggernaut Gabriel Stulman, (Joseph Leonard, Jeffrey’s Grocery, Perla, Chez Sardine.)
These guys know how to make me happy from the minute I walk in, to the time I leave. They understand it’s a show every night and no matter what happens backstage, the customer must leave happy. When I eat at a well-run food establishment like Morandi, Gramercy Tavern or Jeffrey’s Grocery I’m giddy when I leave. I love the way everything is orchestrated. The staff is so friendly and the food is always high quality and well prepared.
Most importantly good restauranteurs are business people. Mr. McNally spent most of last year out of the country from what I hear. But when the seats weren’t full in Pulino’s Bar and Pizzeria on the corner of Bowery and Houston, Mr. McNally pulled the plug on the eatery quicker than you can say “crispy crust” and opened Cherche Midi in the same location. Mr. Stulman had to make some tough choices I’m sure with Chez Sardine – getting away from food and going to more of a bar atmosphere. Again, it was a business decision that was not easy, but had to be made to succeed.
Still serious about going into the restaurant business? May I suggest going into your favorite, privately owned, local establishment. Tell them you would like to own a restaurant
and you would like to buy theirs. After they have stopped kissing you and they’re done wiping away the tears of joy, talk to them about the day-to-day expenses of running the business. If you don’t run out of there like your hair is on fire, then the crazy world of food service just might be for you.
