Why would you hire a restaurant consultant? It’s like asking why buy diapers for a new born. I say that with some obvious sarcasm.
I’ve had 37 years of restaurants experience from chef, owner and operator. I’ve built out three restaurant spaces, designed them and remodel them to take on a whole new look. I’ve sold three restaurants in the last 20 years for a good profit. I’m taking a guess here, how much does your operation spend on a chefs salary? Annually? Well, it most likely depends on the operations budget. Maybe on the very low end 50k-110k in California. As we all know it’s almost impossible to live off less than this. What happens when your chef leaves or quits? Does your operation annual sales support the expense or would you rather put that money back into the business? Maybe it needs new equipment, new facelift, updating, new chairs( have you priced decent commercial chairs lately? These are all questions that need the right answers to in order to make your restaurant successful.
Out of the three restaurants I have sold two of the purchasers had no restaurant experience. Which to this day boggles my mind. But who am I to squash someone’s dreams. That said both were unsuccessful within one year of the purchase. Yes both had closed the doors within just one year. I had owned both of the locations a combined 16 years. This does not make me any kind of hero or genius . It just shows that my 37 years of restaurant experience is worth something. It’s not an easy business by any stretch. One of the hardest and smallest margin business anyone will ever endure. I know as I paid my dues and learned a ton along the way. So again why hire a restaurant consultant? Well this individual may very well be the key to your success in your restaurant purchase. Even if you have restaurant experience as a chef, or Foh manager or server or Sous chef it still does not guarantee you will be successful in ownership. There is a fine line in this business. That line is a margin between 4-7 percent net profit. On the average. You do the math. So if your restaurant produces gross sales of 800k annually your taking home around 56-60k a year. Oh and your working 65 hours a week ( just counting the physical hours you put in at the restaurant) not the other hours you do from home. Bookwork, schedules, payroll, bill paying, phone calls, etc, etc. sounds glamorous huh. You still want to own a restaurant? Well my suggestion is hire a good restaurant consultant . Even if your paying then $100/hr and you spent 50 hours with them. It’s worth every cent. Also look for a restaurant consultant that has a strong chefs background as the menu in your restaurant plays a vital role in your restaurant success. I just happen to know one with strong credentials.