Sure do - make cooking my career one of these days have come across my mind. But elderly always tell me how difficult it is to own a business to yourself, being your own boss is not really an easy thing. I have never experience that, nor see an actual one around me (I do not have any family members or relatives that opens a restaurant) to tell me how challenging can this industry be. Sure, people can constantly tell me 'it's hard, it's not as easy as hosting a dinner party,' but without actually see one, or experience one, is like telling a blind person 'colours are beautiful', that is what I feel now. It looks fun, challenging, satisfying, and looks a whole lot like those cooking games I use to play when I was younger.
The following article that I came across in Chow.com is a review of what happens to others whom I have the same idea with. I have to start putting this in my mind that; to be realistic and rational, besides being able to cook, business strategies are important to in order to keep the restaurant open, since the purpose of opening a restaurant is to earn some money and sustain the restaurant, either to get you rich or just simply want to share great food with people.
Important facts learn here:
Courtesy of http://www.chow.com/stories/10902
- “Owner’s Syndrome” is described by Vivian Olkin, 'It’s the destructive urge on the part of someone who has been successful in a non-food-related field to sink his or her hard-earned cash into a bound-to-fail restaurant venture.'
- "three-year failure rate for small businesses has been reported at as high as 60 percent." I'm not sure how true is this, and where is the survey source comes from, but it's a good precaution, and something to ponder. You really need to do some homework before starting the real thing
- "spending most of her small-business loans on equipment and inventory—dishware, refrigerators, a security system, a stage, insurance—she didn’t have enough capital to keep the restaurant open long enough to build up steady business, even after pressing her mother, husband, son, and uncle into service. The neighborhood economy, which she’d hoped was on the rise, slumped further; people just didn’t seem to be going out to eat." yup. In weekdays I hardly see people walk in to restaurants to eat during brunch time, lunch time, tea time, and it looks slightly better during dinner time (but not full house even in franchise restaurants). Think about the rent of the shop, bills, average in a day if only dinner time looks a little more promising, (assuming 7pm - 9pm full house, out of a day rented 24 hours only 2 hours are 'business hour', it's only around 8% efficient)
- "Besides understanding things like cost accounting and double-entry bookkeeping, says food marketing expert Stephen Hall, author of From Kitchen to Market: Selling Your Gourmet Food Specialty, you should consider whether you really have the personal characteristics necessary to help a business succeed: an entrepreneurial flair (you like to cook—do you like to write press releases to send to every paper in a 500-mile radius?), a high tolerance for rejection, and an unending willingness to bend to consumer tastes, even if that means changing the recipe for Auntie Eleanor’s caramels." So, is not just all about cooking, but other thing like how to attract customers into the restaurants, how to advertise the restaurant, how to manage the money flow. That, I am clueless.
- "If you grew up female in America, until the 1980s you were probably required to take a home-ec class that taught you how to cook so you’d have “something to fall back on.” But Idov, Anderson, and others can attest that when it comes to making food for a living, you’ll need something else to fall back on. In other words, don’t quit your day job." :) that is the definate work out insurance and you don't need to buy it