Anyone with thoughts of opening up a restaurants most likely is going to brush up on a number of skills, mainly cooking, hiring, managing and overall leadership. All of those center on the one aspect of the restaurant business that matters most: making money.
Like any new venture, the idea behind doing something like opening a business is managing cost so that making money within the first few years is realistic, if not the standard. The restaurant business is rather unique given that you'll need the aptitude and penchant to manage food costs, menu pricing, along with wages, rent and utilities.
Food is quite the variable when it comes to being a product you can make money on, given that you'll undoubtedly face crazy competition in that venue along with one bad review or meal from a consumer can turn your restaurant into a stop no one is wanting to make.
The real key to spurring success in the restaurant business is pushing hungry customers toward meals that are more upscale and expensive, but still the type of fare that doesn't boast a small profit margin. Simply put, you want to spend the same on the food but have the more expensive dishes flying off the shelves so your profit is better.
How does a budding restaurateur accomplish that goal?
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