Making Dough Show | Restaurant Show

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


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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.

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