Restaurant Life-Span

[weinoo]

I was wondering what people in the business and/or civilians perceive to be success in the restaurant business?

Back in the day (oy), when I took a small business class in college, I was taught success was attained when a business (though not necessarily a restaurant) had been open for five (5!) years.

Now, five years is pretty much a lifetime in the restaurant business, especially here in New York. Starred restaurants come and go on a weekly basis, chefs move on, money gets spent... A good review is not necessarily a ticket to the bank, either.

So, is there a definition of success? Is there an elapsed time theory?

If a restaurant makes back its initial investment, is it successful? What do you all think?

[317indy]

success to a true chef is if he is happy making food for the customers who enjoy eating his creations.

but in this industry, I think to be considered a "successful" restaurant, you have to have that stigma in your town that you have been around for a while, with a chef who has stayed on since its opening.

Edited October 6, 2007 by 317indy (log)

[SundaySous]

When your suppliers give you credit.

[BigboyDan]

One has achieved success when one knows that the restaurant is in no danger of closing anytime between now and six months - that, and making a monthly profit. What happens in five years is far away from the attention span of a restaurant owner, we worry about tomorrow and the next six months...

[SundaySous]

It's 9:pm and you stop checking the ring to see if you broke even for the day.

[weinoo]

success to a true chef is if he is happy making food for the customers who enjoy eating his creations.

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That's certainly one good indicator, probably more a psychological one than a fiscal one, however! I guess I was shooting for more of a business definition.

When your suppliers give you credit.

LOL (though it's no laughing matter) -- and this must certainly mean that there is a valid track record of paying your bills and dealing honestly with your suppliers, as well as having been open for a length of time.

[docsconz]

To me a successful restaurant is one that has been profitable long enough to return the initial investment and some additional profit while also making food they can be proud of. The last part is necessary for a business definition, but I think important for one's internal sense of success.

[hathor]

To me a successful restaurant is one that has been profitable long enough to return the initial investment and some additional profit while also making food they can be proud of. The last part is necessary for a business definition, but I think important for one's internal sense of success.

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What he said. As in, I was about to type exactly the same thing....bit of a mind reader, Docsconz?

[docsconz]

To me a successful restaurant is one that has been profitable long enough to return the initial investment and some additional profit while also making food they can be proud of. The last part is necessary for a business definition, but I think important for one's internal sense of success.

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What he said. As in, I was about to type exactly the same thing....bit of a mind reader, Docsconz?

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The difference is that you are living it!

[Basildog]

When you reach the point when you don't have to advertise, and if you are not included in a National guide, you don't lose any sleep over it