Business: Foodtrepreneurs

Experience is a key factor when it comes to success in the restaurant business. It is not enough to have money and ambition; experience working in the food-service industry is a major factor for a person who wants to open a restaurant. It costs an average of $100,000 to open a local restaurant in addition to the cost of obtaining licenses, such as a food establishment license. It takes at least three years for a restaurant to become cash flow positive, and location is another factor that can affect this. Restaurant owners see the majority of their customers in the first three months of opening, so it can be difficult to make a profit if the right impression is not created in that time period. While it is easier to open a franchise restaurant as opposed to a locally-owned restaurant, both are tough to start up. It is important for a person to evaluate the risks and rewards before opening a restaurant, since they are different in every situation

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