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What are the main challenges of owning a restaurant.

This is a question to a well established business owner for the purpose of being prepared in opening my own spot.

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Jasmine’s Answer

I have two really close friends who recently opened a restaurant and what I will share are a few major things I have worked with them on that has challenged them. Of course offering delicious options, however the next three are super vital to consider. First, choosing a space that is placed in a moderate to high traffic area is extremely important since your business success will rely on the patrons; If folks aren't aware your business is there, you won't get the business. Second, parking nearby is truly important as quite a few folks drive, again pending your location this may be vastly more important. Third, as learned during the pandemic if you plan to have an inside dining location, highly consider doing take out also as a ton of businesses didn't make it through due to loss of in person traffic during the years of living through this time. Lastly, if you really want this you can do it and I applaud your step out on faith...
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Jeffreyy’s Answer

I was born and raised in a restaurant that my parents owned for 40 years. I also owned an help operate a bar and restaurant for 5 years. Owning a restaurant can be very rewarding but it takes long hard hours to make sure the business is run right. I believe that restaurant failure rate is around 30%. Produce and materials cost are on the rise so profit margins are much lower. The work force has also taken a hit because of what is going on with viruses and economics.
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