By: Ana Margarita A. Olar| Foodfindsasia.com
The food business is very common nowadays because food is a commodity that’s always “in”. But are you really ready to jump right into resto business?
Here are some signs to watch out for before you open your resto:
- You think that having a sizeable chunk of money is enough, or you lack funds.
If you think that your resto business is secure just because you have a large amount of money stashed in your bank account, well here’s the news for you: one, money doesn’t always equals with business security and two, having that large money in the first place can cause trouble such as: buying things you don’t need for the business, paying on an impulse because you thought you will not run out of money, failure to analyze first before spending.
- Earning money is your only motivation.
Of course, everyone wants to profit. But you have to dig deeper for yourself to find ways to be motivated aside from earning money. It may be to provide job opportunities for other people, or to earn for your family and help your relatives. The important point is you must not think of profit as your only motivation to open a resto or any business.
- You’re thinking of doing the job alone.
If you open a resto and thought of doing the entire job, then your business is one step away from failing. Remember, there are persons who can cook better than you, cleans better, washes better, handles money better. Either way, you must learn to delegate workload to trusted individuals who are better on their craft.
- You don’t like making hard decisions.
Once you open your resto, you should be ready to make tough decisions such as layoffs, hiring and firing, moving to a new place, changing your menu, and dealing with a client.
- You don’t see the potential of other people.
What do you see with your employees? Do you think that your waiter will always be a waiter, or the cashier will remain a cashier all her life? If this is the case, it means you are not ready to lead, and, in turn, you’re not ready to open your resto business. As an owner, part of your responsibility is helping your employees to have a vision of what they are right now, to what they want to be (e.g. from waiter to becoming a franchise owner of your restaurant)
- You hate dealing with people.
If you’re thinking of opening a resto but you don’t want to communicate with people, then you are being ridiculous. In running your business, you need to motivate your employees, give healthy criticisms, deal with clients, negotiate with a potential business partner, take a lesson from a business expert and expand your business. And what do you need to do all of these? You need to communicate very well.
- You lack business sense.
Just like other business, starting up a resto is unpredictable. You must have a plan or focus on what to do in case something goes wrong within the resto. If you know that you lack knowledge about the ups and downs of being in a business, and then don’t open that resto yet.
If you have 3 or 4 of these signs, it doesn’t mean that you will put off opening a resto. It only means that you have to spend more time studying and learning from those who are already into the business.