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/biz/ - Business & Finance

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1873464 No.1873464 [Reply] [Original]

/BIZ/ I want to start up my own restaurant but I don't want my business to fail or bankrupt in the first year, like so many other restaurants. How do I avoid complete and other failure,/biz/?

>> No.1873472

>>1873464
If you want to earn a small fortune in the restaurant business, start with a small restaurant.

Buy an established franchise in an under-served area. Don't go your own way. You'll end up like these people.

https://www.youtube.com/watch?v=7uPOGxUtZvk

>> No.1873473

don't start a restaurant you fucking imbecile

>> No.1873480

start up a 24/7 kebab shop in a busy area

profit

>> No.1873506

Announce your opening with folders. Be generous with cheap things. Be very selective about your waiters.

If they prefer to talk instead of asking someone if he wants another coffee then he's ruining your business.

>> No.1873511

>>1873464

Simple answer is don't go into debt.

The reason so many businesses fail is because they don't grow their business, they just buy themselves into the market.

This means that the slow period that a small business takes to grow really compounds negatively against them.

A good example of this are gyms and restaurants. You buy tens to hundreds of thousands in equipment and location. If the first few months to a year are slow, then you're just adding more and more debt.