Tell us more about your SPECIFIC experience gained in you Dad's business.
What kind of Restaurants are they?
Are they successful?
What specifically did you do as a Project Manager?
Are you thinking Counter service or table service?
Have you cooked this type of food before?
Have you done Cash Flow Projections?
Most importantly, do you have enough cash, (NO Credit) to operate and pay all the bills including money for you to live on for at least 6 months? (That's minimum).
Running a restaurant is not about food.
It's about business management!
If you can't run a business, it doesn't matter what you're serving.
I know you said you considered a Food Truck and dismissed it.
I would STRONGLY suggest rethinking that decision for a number of reasons:
- Lower entry costs verses Brick & Mortar
- Less hassle from building inspectors and the Health Dept.
- Quicker start-up with less hassle.
- Location flexibility. If one location doesn't work--MOVE!
- Ability to change menus and graphics quickly if original food concept doesn't work.
- Lower fixed costs and operating costs, taxes, insurance, etc
- Easier to implement an exit strategy if it doesn't work or you find out it's not a business for you.
- Easier to recapture a greater percentage of your initial investment if it doesn't work. Minimizes your initial risk.
- It's THE hot business in College towns. Research the success of food trucks in other college towns.
- College kids will be more open to new food concepts from a food truck.
- You'll spend less money on advertising and promotions because---
- You go to the customers, they don't need to find you.
- Social Media works very well to promote food trucks
These are just some thoughts. The more you tell us, the more we can help.
<message edited by Foodbme on Wed, 01/11/12 3:41 AM>