So you want to own your own restaurant?
Don’t do it!
- Work schedule is terrible – 50-75 hours/week
- Low pay – for everyone, including you (well, maybe not the waiters)
- Huge upfront costs – $100K- $$$$$
- Low profit margins – 10% or less
- Sky-high failure risk – restaurants are famous for it
- Low resale value – don’t forget to renew your lease
- High stress work environment – loud, exhilarating and exhausting
- Heavy pressure on lifestyle/family – the best reason not to do it
But, if you must…