I will soon ebark on opening a restaurant. Is the timing right for such a venture. any advise out there.

In General Area - Asked by manny o. - Jan 24, 2010
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Answer(s)

Robert O.
Broker/Agent
Ocala, FL

Depends on what,where,investment,time for return of profit! Find 5 Business that failed and why? Find 5 Business are doing great and why? Then call and we can talk or I can find them for you. Look for 20% Return. Robert Olson 352-207-1064

Jan 24, 2010
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Henry B.
Broker/Agent
Bradenton, FL

First determine if there is a huge gap between supply and demand. You need a market looking for a site...Not a site looking for a market...Then, I would wait til things improve on the general economy. Very risky at this time with few rare exceptions. Be patient.
Don't throw your money away!...Good luck!

Jan 25, 2010
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Debbie M.
Owner/Investor
Oliver Springs, TN

I opened a restaurant myself, April 2009. (everyone told me not to) Location is key and serve a product the people can't get anywhere else. Competition from existing businesses will hurt you. We are almost a year old and still growing. So much fun!

Jan 25, 2010
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Tyler D.
Property/Asset Manager
Dubai, DU

I'm located in Jacksonville, FL. I opened a restaurant about 1 year ago and there were quite a few struggles to overcome in the beginning, however all the hard work pays off when you have consistent satisfied customers and are making a profit. I am moving soon to do the same thing in Utah with a new partner, and have listed my restaurant for sale on here if your interested in taking a look! Good luck with whatever venture you decide to follow! tylerdefelice@gmail.com

Jan 25, 2010
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Lou E.
Property/Asset Manager
Silver Lake, WA

I have been in restaurant franchise development for 25 years. There is never a bad time to start -- just bad location(s) or product(s). You may consider a franchise operation or a well-established restaurant needing re-hab or up-to-date marketing. There are a lot of bargains available today -- but remember the most important criteria -- LOCATION - LOCATION - LOCATION!

Jan 25, 2010
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John B.
Broker/Agent
Las Vegas, NV

You have received all the right 'real estate' answers. However there are some other very important points to consider:
1. What is your capital reserve? Need 6 months minimum.
2. Do you or or any ofyour partner have experience in F&B, Employee/HR, menu engineering?
Lastly, are you committed to long hours, never ending employee problems and severe customer criticism?
If you answered yes to all of the above....you will do fine.

Jan 25, 2010
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Chris S.
Broker/Agent
Coeur D'alene, ID

Plan to give your life to the business for at least 3 to 5 years, more than full time and get ready for crazy staffing issues, know the business of operating a restaurant, not just how to cook some good food. In one some town here we have had nearly 200 restaurants come and go in the past 10 years, most were folks that made good food but had no idea how to run a business, had no idea on what the economics were, etc.

Mar 11, 2013
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