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I don’t know if you’ve heard, but now is not a great time to go into the restaurant industry...
Ghost kitchens are doing ok...
Actual advice: lock down your concept first. You can't wing it as far as vision; obviously be flexible but this should all be working seamlessly on paper before anything happens.
Next, lock down your front and back of house talent. You need a cook who can keep things consistent and creative on the fly, and front of house to keep the kitchen / servers from being overwhelmed, the guests happy, and the tables turned over. Your cook will be be integral to locking down your menu.
Menu: keep 👏🏽 it 👏🏽 simple👏🏽. Do a very small number of things very well, not a bunch of things badly. A robust, affordable menu can still command good margins by the simplicity of low cost ingredients.
Suppliers: get you a guy who always knows a guy. This may also end up being something your chef can help with. Don't cut corners, but don't go overboard; get what you need and set up the relationships to make sure you're not last in the pecking order of their delivery routes.
If you have a good relationship with the owners or staff of a restaurant you frequent, they'll have insights.
Get killer talent and overpay them. Nothing buys perfection better than loyalty, and loyalty comes from knowing the owner genuinely cares about staff.
Last: get that liquor license. Your margins are almost all liquor, so get that sorted and get it to cover everything.
Rising Star
Damn SC1 just gave you some Bar Rescue advice for free.
In about 7 months will probably be the best time ever to open a restaurant though
Make them a co-owner so they have to consult for free 😂
Rising Star
Studying your market and target audience would probably be the first thing, then do a cost analysis. It doesn’t sound like you’re ready with a plan yet besides an idea. Make sure 1) you’re prepared and 2) this is your passion and you’re 100% into it, owning a restaurant will require a lot of work. It’s not glamorous
Don’t leave consultant, he will be so sad
Chief
Make your friend a minority owner and get him to commit to a day a week
Beyond the above, running any restaurant is not easy. Suggest doing a part time job in one (as a waiter, cook, bus boy etc) to experience it first before quitting
Love it. Do you have a concept in mind?
Love the idea! Don’t get enough good Asian fusion in Boston anymore. We used to love Elephant Walk under the old owners. Empire was/is good but not always worth the price. Tried Ming Tsai’s Blue Dragon, the food was fine, but found the ambience meh.
Besides a good chef, I’d recommend investing in the ambience and friendly service staff along with a good wine and craft beer selection. Some vegan, gluten-free, and lactose-free options on the menu might help as well.
Good luck and keep us posted!
I’m in full support 🤎
Exciting! You mentioned that you’re a decent cook... does that mean you plan on being the Chef? Do you have any restaurant experience? If not, I also suggest getting a part time gig on weekends in a kitchen with a similar expected take out pace. Being a good cook at home does not translate to being a chef at a fast casual restaurant.
When you’re done “training” in the kitchen, swap roles to front of house. I grew up in restaurants and for (at least) the first few years the owner has to assume one of the two most expensive salaried positions, chef or manager. I can only imagine how excited you must be at the prospect but there is a lot to running a successful restaurant. Get your hands dirty in one ASAP to make sure you love it.
^ yeah, I forgot to mention this. EY1 makes an excellent point here.
It's not a prerequisite but it's definitely a hugely massive benefit for you to work in a restaurant for at least a few months before opening one. Again, COVID has made this pretty difficult but there's no substitute for hands-on experience.