Thursday, February 19, 2009

The Business of Restaurants

There is a popular saying that "successful restaurant entrepreneurs are not in the restaurant business, but in the business of restaurants". This just says that the latter takes an operational approach, with careful planning and research of the market, while the former is usually based on a whim and a family recipe.

As we get closer to implementation, we are taking all the necessary early measures to ensure that ours will be a restaurant that is process-savvy. That said, we are currently designing a flow-chart, basically a map of our operation beginning with the customer who walks in, places his/her order and from there, how long it takes for the order to be received and served with all the proper variables in place.

I'm sure this is all very riveting for you, but poor operations leads to waste, low quality in output, employee dissatisfaction, and as a result, sub-par customer service.

Also, we have recently been in touch with one of our industry sources, a good friend of mine. He encouraged us to seek legal counsel early, thus avoiding the headaches that will inevitably come later. Our lawyer will deal with our licensing, equity and dividend distribution agreements, and lease negotiations when we have our space.

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