Looking for few non-technical business ideas. For some reason, opening a restaurant excites me the most. Is this a profitable business? I am open to exploring all options viz. Restaurant Franchize, something of own, food truck etc. Also, estimates on investment needed would be appreciated. Ps: It would mostly be run by my cousins, I would be a passive investor.
Don't open a restaurant. It's the worst business idea. The busiest restaurants that manage to make money (ie top 10%) make less than your tech job. Instead, try investing in rental real estate, especially in the South or MidWest
If gud cuisine then maybe ... Many many gud Indian cuisine ... Very diverse ...
Can give tip if u need .... Let me know ...
Hereâs a tip: set âgudâ as a shortcut for âgoodâ in your phone keyboard and youâll sound a lot more literate with similar effort expended.
I am happy to talk with you if you would like. I left a tech job to open a franchise restaurant. If you havenât run a restaurant before I think a franchise is a great option to learn the business with support. It is set up to scale too.
If this is your first restaurant and it's your passion, definitely go for a franchise. That way you get training, ready to go operating manuals and all SOPs outlined, and all marketing etc. managed for you.
Are you a people person?
I have a few friends that are in the restaurant business. Just opened up a new one. Few things I learned from them: - 10% Net profit is good - Expect to lose a lot in the beginning as the biz stabilizes. $30k a month is not unheard of. - Food costs determine profit. A nice cafe that does a ton of business but has lots of high quality ingredients could barely break even if the pricing isnât right. - Spend a lot of time scouting location. Thatâs prob 75% of marketing. I wouldnât recommend traditional brick and mortar tho. I think the trend in restaurants is micro kitchens and food trucks. Thereâs a guy that opened up a pizza food truck close by. He cleans up. Very low overhead. Very few menu skus. He connects to all the delivery companies so every time I walk by itâs just a line of Uber/ Doordash/ Postmates/ Eat 24 and random walk ups. Feel free to DM if you want to talk more
Donât invest in restaurants
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Restaurants are some of the hardest and least profitable businesses to run. Not impossible obviously though, especially if itâs what excites you