I am new to the paleohacks forum and am excited to reach out to a community of individuals who seem as passionate about food as myself. I am working on creating a restaurant in Detroit where I will serve only pastured meats and local organic produce. I am going into this entirely new to the concept of owning my own business, but I believe with drive and the right support I can create a restaurant where people can eat truly healthful and delicious foods. I am currently looking to build my team and if this venture seems of interest to anyone, I would appreciate your feedback or support.
asked byacicchella (0)
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on February 05, 2015
at 06:21 PM
I live in the Detroit metro area and I would be so excited to have a paleo and sustainable restaurant in the area!
on May 16, 2014
at 09:01 PM
I'm going to be real honest with you.
Approximately 80% of restaurants close within the first year. Of the 20% that make it beyond a year, 90% close within 5 years. That means out of 100 restaurants, 2 are still up and running after 5 years. Of the 98 that close, the average debt of a failed restauranteur is $75,000.
So in every likelihood you trek into the restaurant business is going to find you out of a job within 5 years and in serious debt.
Are you a Chef? Are you a Financial Planner? Are you an accountant? Are you a corporate realtor? Are you an interior designer? Are you a wholesaler? Are you a producer? Are you connected to the restaurant scene? Are you a bartender? Are you connected to the farming infrastructure you plan to exploit? Are you independently wealthy?
A restauranteur needs to be at least 3 of those things (and about a dozen other things), because otherwise you are paying other people to do them -- payments that reduce your bottom line. I interned at an accounting firm that maintained the books for several local restaurants. The amount of support that goes into a running a good business is non-trivial. The number of restaurant owners who had not received a pay check in multiple months was staggering. One owner (of a successful franchise of a national chain restaurant) did not received a paycheck in his first 3 years. And he received an award for fastest growing chain!
If you got money to spare, do what you want -- but this is not a business for novices.