Keys to Success in Small Restaurant:
- The owner must be able to afford losses.
- The owner must be hands-on.
- The head chef must have a stake in the business.
The owner must be able to afford losses because without financial resilience, various aspects of the business will suffer. A do-or-die attitude is essential; owners attempting to turn their fortunes solely through catering are bound to encounter difficulties.
The owner must be hands-on because ultimately, no one will care for the business as much as they do. Neglect and laziness on the owner’s part will inevitably lead to trouble.
The head chef must have a stake in the business because every extra ladle of oil they use cuts into profits. Chefs lacking a sense of ownership are destined for trouble.
Small catering is a low-cost entrepreneurial path, particularly suitable for couples. It’s crucial for small catering businesses to have prime locations and delicious flavors. Focus on laying the groundwork first and avoid overthinking.
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