So, I don’t have any assets other than my financed car and a decent savings. I’ve worked in the restaurant industry for over 20 years and went to school for it a long time ago now. Over the years I’ve tried to obtain a different career but nothing has ever stuck. It seems I keep working in food because I’m either a masochist or I actually must like it. I’ve been working FOH for a while, because BOH in a restaurant (even management) doesn’t pay enough or offer any sort of quality of life.
I want to go back to the kitchen though, but I don’t want to take orders from anybody. I want my own business. I’ve worked really hard for the little bit I have, I don’t even have a house…Is it possible I open a small food business on loan (got great credit) and open an LLC and NOT lose the little bit of savings I do have to my name? I don’t have a rich uncle to borrow from if I completely lose my shirt…failures not really an option but…just in case…would the LLC completely protect me, say if I borrowed 100k or so to open a food truck or food cart or whatever??
Oh, you are so confused. When you own a restaurant, you take orders from way more people than when you were a worker. Every customer is a demanding, entitled jerk off with Yelp open and ready to go. You’ll realize very quickly that you are a little bitch at the mercy of the customer. On top of that, you’ll almost certainly lose all of your money through a painful, emotionally challenging year or two of desperately watching the door hoping and praying that these highly critical assholes will come in just so you might be able to stay open a week longer.
Everyone romanticizes owning a restaurant. Everyone thinks they can cook better and run it better than the next guy.
I’m extremely talented in business. And man, that was an awful 2 years of my life that thankfully I was able to come out slightly ahead. The business has since gone through several more owners who all failed miserably.
Best of luck to ya!
lol…fair enough.
Thanks for talking me out of it again…surely it’s better than running somebody elses restaurant for less money and control though. I just gotta get out food.
Maybe. Not everyone fails! If you do it, go as small and low cost as possible to start out.
As for being better. Depends. Most restaurants fail. Which means the manager usually makes more money than the owner and has none of the financial trauma.
Think about the fact that even established, busy restaurants always seem to go out of business eventually. Few last 10-20 years or more.