Opening Restaurant in Bad Economy

Opening your own restaurant in economy crisis may be the rewarding investment or the riskiest also. Make use different strategy to marketing your business and adapt to survive even in a bad economic environment is this article will present.

In fact, it is not just what it appears from the outside looking for beginning your work in cuisine industry, but ask for related business knowledge, effort, determination as well as experience in the particular industry since you have learned that 9/10 new restaurant were failed during their first year.

The Gourmet therefore collects information from the interviewer by our website, the top chefs and successful entrepreneurs as well. We will share their advice on how to help your newly-opened restaurant survive in food business world.

Louis, 39, the manager of Taiwu Cantonese manager and he also has already doing Chinese food business over ten years as a manager.

To be honest, we can’t stay here and does nothing change, try our best to provide the best service and make sure the customers are happy and they gonna coming back. We always following the new policy and waiting what happen for the new situation for the unknown future of UK economic. Try your experience at others' restaurants first, so when you open your own, you don't have to pay for those mistakes and will be better off. Be patient, work hard, creative and waiting for the right time to open yours.


Huang, 36, the boss and also the famous head chef of Ming Dynasty which is the largest Chinese restaurant in Preston.

A business can go well if only you raise enough money for the first three months without expectation of profitability, so a careful business plan with sound finance source is a must. Make sure you can control well the cost of rent, food and payroll. If you tend to open a restaurant, you should have something special to offer your customers - an image or restaurant reputation - to make them come back again and again.

Specifically, cut price, improve service, add Chinese Sichuan cuisine and providing variety choices of dishes and tasty to face the recession challenge.

Tracy, 29, the manager of Kwong Fatt oriental supermarket which is the largest Chinese supermarket in Preston.

Choosing an appropriate location is the key words for opening a supermarket, meeting customers’ need is also important. The most important thing is fitness so keep it small, value-driven, and in a beautiful setting so you can control it and create something of value. Success will come to those who know how to create extraordinary value, based on a pure formula, so never forget to do extra research, create new and fine service.

Annie Somerville, 56, the head chef of Greens restaurant in San Francisco. She has earned a national reputation for imaginative vegetarian cooking and is an author of several bestselling cookbook

Customers come to your restaurants for food, but besides being a fine cook, you have to have a great business sense, too. If you find that you don't know well how to control the money flows, find an experienced partner. Another advice is when you start go into an existing restaurant space - it helps you save huge of capital. Read more...



Chef Todd English, 45, run Olives restaurant and Todd English restaurant chain from NY to Las Vegas. He was named best chef in the Northeast by the James Beard Foundation in 1994 and restaurateur of the year by Bon Appetit magazine in 2001.

Make sure you have enough finance to cover your first several months, and your first year if possible. If you do not witness profitability in your first months is not a big problem, but if it lasts for 6 month, you are in big risk. Read more...

Mario Batali, 48, the chef-owner of a series of 14 restaurants in New York City, the former host of the Food Network's Molto Mario and Ciao America and the author of six cookbooks.

When the economic dives, the good and bad restaurant business will be divided clearly. So you have a chance to success if you can define your customer base, always remember to create food and service from the heart, not the textbook. Read more...

Video by quepasa100 via Youtube

Reference:

Bloomberg.com (2011) "Top Chefs on Opening Shop"

http://images.businessweek.com/ss/08/10/1024_chefs/5.htm

Photo credits:

http://www.blogger.com/goog_23732818

http://images.businessweek.com/ss/08/10/1024_chefs/7.htm