20. HOW TO OPEN A RESTAURANT - 5 things to know BEFORE opening a restaurant

Download for FREE: Restaurant Business Plan | Free
PDF


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WATCH: AVOID these 3 common mistakes when Opening a
Restaurant


https://youtu.be/ffVyRNhF6cE


WATCH: AI Marketing: Revolutionize Your
Restaurant with ChatGPT's Genius Marketing Strategies
https://youtu.be/WAV4HkdO4a0








// WHO: Hengam Stanfield is the co-owner of two
restaurants in San Antonio alongside his husband Matt. Their
background is in engineering.   They tripled their
restaurant sales in less than 5 years with 0 prior restaurant
experience. They believe every restaurateur deserves
owning a restaurant that does not own them. 





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 // TODAY'S EPISODE:


Planning to open up a restaurant? 


“Hello Hengam a great video! I would definitely be
interested in more of your videos and advice. My wife and I also
live in Texas and we are in a very beginning stages of owning our
own restaurant. I'd love to hear more on the beginning of how you
got started leading up to opening day and what you would
recommend for us looking to put the dream into actions and what
steps to take to properly execute? Thank you!”
-Lawrence 


 


You have got to get obsessed with your
numbers 


You got a study to the numbers. You're purchasing an existing
restaurant You need to review the numbers. You need that they're
going to give you a P&L. Because what you're paying for
unless it's an asset purchase. 


NEGOTIATE EVERYTHING!


You feel like you're not entitled to negotiate because you're
just starting. You need to view that exactly the opposite because
you're starting out ask for grace say hey how about I you know
pay this you know like hypothetically even if it's
AT&T. 


DOCUMENT EVERYTHING! 


Overall just document everything you know what I'm saying it's
just the fact it is because there's gonna be so many moving parts
you're going to forget now when it comes to document obviously
you can use a classic pen and paper or something or a notebook
you have or you can use a logbook feature that many software's do
offer. 


Expect that you're gonna make mistakes. 


It is going to take a village an enormous amount of work to make
a business successful and I'm just being honest with you so
expect the unexpected so it would be less stressful for
you. 


BE OBSESSED WITH GROWING YOUR SALES


And you're gonna continue to be obsessed with sales when sales is
good because the way it works in the restaurant is whatever you
do whatever you do today to grow yourself whatever activity you
do to market your restaurant is not going to surface up you won't
see the results in four to six weeks so we go through this season
where sells is really good.


And the last tip I have for you which my husband
and I failed to do is to go work at another restaurant maybe you
have had years of restaurant experience or not our case we had
zero.  And just learn as much as you can from another of
restaurant owner.