Young Upstarts

All about entrepreneurship, intrapreneurship, ideas, innovation, and small business.

Should You Open A Restaurant? 5 Reasons To Say Yes.

Waitress serving customers

There are times that you have a fleeting idea to open a restaurant, and before you know it, you are thinking about it every waking moment. There are two scenarios that provoke such an idea: after a bad meal out, when you can clearly see where things went so wrong; or, after a great meal out, and you think you could do that.

Here are five reasons why you should consider opening your own restaurant:

Passion = Profitability.

To even contemplate entering the restaurant business, you must have a passion for it. With potentially long hours, sacrifices and risks, entering the restaurant business is not for the faint-hearted. Your love for what you do, and wanting to provide your customers with the very best experience each time they enter your building, can allow you to build a long-lasting business. If you like making decisions and are confident that you can lead your team to help you achieve success, you have nothing to lose but everything to gain.

A sense of freedom.

What is this elusive sense of freedom that entrepreneurs talk about? Work is work, right? It depends on what your current situation is, and what your expectations are. Freedom could be from the sense of not having to clock in and off at the start of your working day. It could be freedom from a 9-5 schedule, and being able to choose the hours that you work to suit your family. Freedom can be being able to go for a surf midafternoon to make the most of those waves.

Be your own boss.

Being your own boss allows you to call the end shot. You can make the big decisions and be master of your own destiny. You can utilize all the skills that you have gained previously through life experiences to shape your future.

Being your own boss entails a new set of responsibilities and areas that can cause different stresses and worries that should not be glossed over. The risk is firmly on your shoulders, and can feel overwhelming; however, there are opportunities out there that can help carry the burden, for example, a subs franchise can allow you to achieve your dream, but with the added support of tried and tested strategies to guide you to success.

Choose your team.

The ability to like all of your colleagues is in itself life changing. You can choose who you spend your working hours with. Hiring the right people to support you in your business is both challenging and time-consuming, but if you get it right? You have hit gold. You need to find the balance between liking the person, and being able to recognize the skills that they (literally) bring to the table. Remember: you define the work culture of your establishment by the team that you select; you define the customers’ experience by the team that you select – your profits depend on getting it right.

Community.

Every community benefits from having a safe and pleasant hub where people can meet and socialize. Unlike profit or staff turnover, community spirit is unquantifiable, but can feel like the icing on the cake. Watch your profits make your establishment the first call for local people to go to for birthday celebrations, lunches out with the family or even a solo coffee with a good book.

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Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

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