Very worthwhile book about how to open and manage a restaurant.
To give you a flavor for the book, let me quote (partially) his rules for starting a restaurant:
■ Rule #1: As you move ahead with your plans, keep one foot firmly planted in the realities of business and the other in your passion for your restaurant.
■ Rule #2: Consider starting small even if you've had previous experience as a chef or a manager. Starting small will require much less start-up capital than starting on a grand scale, and it will give you the opportunity to learn on the job without the stress of running the day-to-day operations of a large business. With the lessons learned from operating a successful small operation, you will be better prepared to go on to build your dream restaurant or restaurant empire, if that is your ultimate goal. Also, do not underestimate the potential profitability and/or satisfaction of owning and running a small operation.
■ Rule #3: Set initial realistic goals and objectives. Setting practical goals will help you focus on the appropriate type and size of restaurant for you. With reasonable goals, you can prepare an objective financial feasibility study and a pro forma profit-and-loss statement; these documents will help you to gauge whether your restaurant will be lucrative enough to realize your dreams and your financial goals.
■ Rule #4: Recognize from the get-go that the amount of financial resources you have access to will limit the type and size of restaurant you can realistically open. Available capital will depend largely on your personal financial resources (that is, your savings, investments, and equity in your home if you own one) and, if necessary, on your ability to attract investors and lenders. Before you start dreaming, take stock of your financial situation. Then decide how much of it you are prepared to invest in your future restaurant and try to stick with that amount. Your access to capital combined with your desired income and lifestyle should guide your decision as to what type and size of restaurant to open.
■ Rule #5: Make a commitment to find and surround yourself with the right people to help you get the job done. This could include a chef, a manager, or consultants if necessary. Too many early mistakes can cause problems that can doom your restaurant to failure before it has a fighting chance.