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> Most restaurants that fail, do so because of bad or insufficient planning. Mine is different.
Good luck with that. Statistics don't give you very good odds. It's funny that you think your plan is different and hasn't been thought of before. Give it a shot. Let's see how that works out for you. As I said, good luck with that.
Anonymous A (OP) replied with this 11 years ago, 2 minutes later, 22 minutes after the original post[^][v]#601,679
@previous (Nononymous.)
Since you are obviously an expert on business and restaurants, can you please tell me what causes the ones that succeed, to succeed?
Methlyfe !KansasxqvM joined in and replied with this 11 years ago, 4 minutes later, 27 minutes after the original post[^][v]#601,683
Do you think the Chinese will like that type of food? Why not just sell pizza, hotdogs, hamburgers and apple pie? Very easy and very American.
Nononymous. replied with this 11 years ago, 8 seconds later, 27 minutes after the original post[^][v]#601,684
> Since you are obviously an expert on business and restaurants, can you please tell me what causes the ones that succeed, to succeed?
Location, economy, marketing, hard work, dedication, financial restraint, adequate planning, and having enough money to risk losing money for the first couple of years (credit). Work on food budgets - that's where most fail as I recall. I'm not an expert on restaurants but I am a mathematician and owned my own business until I sold it and retired.
Oh, and passion. Do lots of research.
Anonymous D joined in and replied with this 11 years ago, 7 minutes later, 34 minutes after the original post[^][v]#601,685
Anonymous A (OP) replied with this 11 years ago, 59 seconds later, 35 minutes after the original post[^][v]#601,687
@601,684 (Nononymous.)
What sort of business did you own? You (seriously) seem very intelligent and competent. I believe that you shall be a great asset to this fora!
Nononymous. replied with this 11 years ago, 12 minutes later, 48 minutes after the original post[^][v]#601,706
> What sort of business did you own? You (seriously) seem very intelligent and competent. I believe that you shall be a great asset to this fora!
Traffic modeling - vehicular and pedestrian. It was mostly municipal contracts though we expanded into modeling pedestrian traffic (think grocery stores and malls). I sold my business about eight years ago and retired. In the nomenclature of this site I'd be, presumably, an "oldfag."
I probably should use my usual nick if I'm going to be this open. Ah well, I'll leave it as it is for now.
In hindsight, my "good luck with that" was not as sarcastic as it may seem. It was merely a warning that, statistically, you're very likely to fail. While you probably think you have it all figured out, well, so didn't the rest of those who failed. This should not discourage you from trying. If anything, it should encourage you.
It is my opinion, based on history, that as we move forward we will be returning to the era of small and medium businesses being the norm - at a greater rate than currently existing. Everything old is new again. You may not make it 'rich' but you may make enough to subsist. In much the way people worked on small farms we will have small businesses that actually provide the economic backbone.
Anonymous A (OP) replied with this 11 years ago, 4 minutes later, 52 minutes after the original post[^][v]#601,707
@previous (Nononymous.)
I agree about small businesses. And, the market I am aiming for has seen hundreds of hugely-successful restaurants. I am confident I know what these people like, and I have a plan for where to put it, how to run it, etc. So, traffic modeling sounds interesting. You are very impressive.
Nononymous. replied with this 11 years ago, 19 minutes later, 1 hour after the original post[^][v]#601,709
> I agree about small businesses. And, the market I am aiming for has seen hundreds of hugely-successful restaurants. I am confident I know what these people like, and I have a plan for where to put it, how to run it, etc. So, traffic modeling sounds interesting. You are very impressive.
I know too little about you to opine on your chance of success beyond the generally accepted studies that have been done. I'd submit that your confidence is good and that you should try to keep it but not be afraid to admit errors and make corrections. From reading the thread I've assumed that you're in an Asian country (if the poster was correct) and are going to be opening a Creole restaurant. There is some similarity in the food and there's a lust for Americana in China.
If you'll consider a recommendation from a random bunch of pixels, anonymous at that, I'd consider aiming at the high end market and exclusivity. Another option would be street vending or an open air place. I've been to both in China and enjoyed both environments. There's also an affinity for wine in China. While I am overly-fond of Creole foodstuffs, I am not sure what wines pair with it but neither are they.
If Creole is incorrect, I am too lazy to Google, then insert Cajun. I make it a point to visit the Gulf a few times a year but have a second home in Panama City, Florida. It's not known for Cajun food but that urge is sated in NO, Shreveport, etc...
If, for some bizarre reason, you wanted more of an opinion then I would require additional information. You will need, regardless of location, some funding to get started and a line of credit to keep you going for a while. My understanding is (and I sit on my credit union's board) that it is hard to get funding because, frankly, the market sucks and most restaurant owners are doomed to failure as they leak money like a sieve for the first couple of years. Do not, however, assume that I'm factually correct or an authoritative source on the matter.
By the way, I hold a doctorate in Applied Mathematics and a masters in Electrical Engineering. This means that, beyond the statistics, I have only tangentially related information to share and should not be considered a primary source of information.
Sorry for the lag in the reply. I was figuring out how to actually make this account my own so as to avoid being spoofed. I made the comments, I own them - wrong or right.
Anonymous A (OP) replied with this 11 years ago, 1 minute later, 1 hour after the original post[^][v]#601,711
@previous (Nononymous.)
Thank you for your well-thought-out reply. I appreciate it. I tend to agree with you re: high-end place.
Anonymous E joined in and replied with this 11 years ago, 4 minutes later, 1 hour after the original post[^][v]#601,713
> Thank you for your well-thought-out reply. I appreciate it. I tend to agree with you re: high-end place.
I've made a number of posts, over the years, about operating a business, what to do when you're successful or are doing poorly, etc. I'm fairly well known in certain sections and have met many of these people in real life. If you're inclined then I can certainly get more information from you and then reply with a more informed opinion.
Should you wish to do so then, well, I'd start with:
Q: How much experience do you have working in restaurants?
Q: How much of that experience is as an owner/operator?
Q: What marketing research have you done?
Q: How do you intend to attract clientèle?
Q: How do you intend to secure funding?
Q: Can you secure funding to operate at a TOTAL loss (net profits < 0%) for a period longer than X amount of time? (Where X is the average duration before restaurants turn a profit in your market area.)
Q: Do you have a location in mind and have you sought information on leasing or purchasing it?
Q: What are the local market's legal restrictions?
Q: Are you aware of business customs (and regulations) or have access to someone who is? (I.e. bribery, graft, protection, etc.)
Q: Have you looked into sourcing your product? How much of your product can be sourced locally? (I'd assume quite a bit, actually.)
Those can be rhetorical (and may be of some help) or you can answer as you will. If nothing else then I've given you some questions that you may wish to answer. I have many more. Sometimes it is best to bounce ideas off of people and, frankly, you opened yourself up to doing so (and invited the reply) by posting here. One can safely posit that you wish for feedback. I'm willing to do so to the best of my ability.
Doctor Dick !DEePerQmUQ joined in and replied with this 11 years ago, 1 hour later, 2 hours after the original post[^][v]#601,736
> He has been claiming to be opening a Cajun restaurant since 2010 and it never happens
Well, that's unfortunate. Maybe the questions will motivate them? Probably not, however, if it has been five years. I've only browsed this site until today so I don't know any of the people. Given their lack of replies to my questions, you're probably correct in that it will never happen. It's unfortunate, more people need to consider finding a way to support themselves instead of relying on employment from others. It's really what the future is going to hold, I'm pretty sure.
Anonymous A (OP) replied with this 11 years ago, 2 hours later, 5 hours after the original post[^][v]#601,762
@previous (Nononymous !gthdHv4g0s)
Sorry I did not reply earlier. I had to commute. Yes, I have years of experience, lots of market research. The only thing I lack is investors who are 100% committed.
Anonymous G joined in and replied with this 11 years ago, 3 minutes later, 5 hours after the original post[^][v]#601,763
Louisiana schtick.
hater !JGlOo5d1iU joined in and replied with this 11 years ago, 7 minutes later, 5 hours after the original post[^][v]#601,767
@601,762 (A)
Are these investors 100% committed who you have now? I wish you all the luck! Once you are open perhaps I will plan a visit to china and sample your cuisine.
Lemon Drop !CITRUS3QCY (OP) replied with this 11 years ago, 48 seconds later, 5 hours after the original post[^][v]#601,768
@previous (hater !JGlOo5d1iU)
They are not, unfortunately. They are still worried because, as Nononymoussaid, restaurants are risky. If I do open it, I will regale you with free cuisine, booze, and treat you like a true VIP!
Anonymous E replied with this 11 years ago, 9 minutes later, 5 hours after the original post[^][v]#601,779
@previous (Lemon Drop !CITRUS3QCY)
You didn't answer my question. Are these the same investors who gave you the equivalent of $2 million to open a language school a few years ago?
Lemon Drop !CITRUS3QCY (OP) replied with this 11 years ago, 2 minutes later, 5 hours after the original post[^][v]#601,785
@previous (E)
No. That fell through. They are not the same.
Anonymous E replied with this 11 years ago, 3 minutes later, 5 hours after the original post[^][v]#601,792
@previous (Lemon Drop !CITRUS3QCY)
So, you're lying now, just as you were lying then. Thanks.
Lemon Drop !CITRUS3QCY (OP) replied with this 11 years ago, 32 seconds later, 5 hours after the original post[^][v]#601,793
@previous (E)
No, I am not lying, nor was I lying. Thanks for your obsession, though.
Anonymous E replied with this 11 years ago, 21 minutes later, 5 hours after the original post[^][v]#601,812
@previous (Lemon Drop !CITRUS3QCY)
Yes, you are lying now, just as you were lying then. Why do you expect us to believe you'd be capable of running a business when you can't even pay off a $400 loan?
(Edited 2 minutes later.)
hater !JGlOo5d1iU replied with this 11 years ago, 2 minutes later, 5 hours after the original post[^][v]#601,815
@601,768 (Lemon Drop !CITRUS3QCY)
I will pretend to be an american celebrity, and it will give you free publicity.
Lemon Drop !CITRUS3QCY (OP) replied with this 11 years ago, 2 minutes later, 6 hours after the original post[^][v]#601,817
@previous (hater !JGlOo5d1iU)
And you know what? Many Chinese would accept it!
Lemon Drop !CITRUS3QCY (OP) double-posted this 11 years ago, 28 seconds later, 6 hours after the original post[^][v]#601,818
@601,812 (E)
OK, you are just a very angry, obsessed person. I will no longer reply to you.
P.S. Reid canceled that loan long ago.
hater !JGlOo5d1iU replied with this 11 years ago, 1 minute later, 6 hours after the original post[^][v]#601,819
@601,792 (E)
Matt jokingly once said they were breaking ground in two weeks or that day or something, but he was consistent in that he was talking to investors who were associates of the people who he knew in China. Given matt's father's connections with the chinese, its entirely feasible matt was seeking investors. Many many many people had multiple failures securing investors before they found success. Failures early in life are exceptionally common. The Facebook billionaires of the world who get early and immediate success are super rare. Its much more common that someone had a string of failures behind them, but people learn a lot from failing.
Not being able to secure investors for a risky venture isn't surprising. You expect Matt to hold onto one idea forever? He trolls you, but that doesn't mean he won't one day be a millionaire. The trick isn't to win your first shot at it, its to never give up until you succeed.
Lemon Drop !CITRUS3QCY (OP) replied with this 11 years ago, 53 seconds later, 6 hours after the original post[^][v]#601,820