Starting your own restaurant is all about risk versus reward. Restaurants are always risky endeavors because they are subject to a particular area’s tastes, which are always changing. People go to restaurants that they like—that they are familiar with. Getting on the map in any location is the most crucial and most difficult part of building a successful restaurant. Once you’re established, your rewards will pour in for years as more people become familiar with your menus, your building, and your employees.
When you start the planning process, the most important detail to determine first is your food concept. What food will you be serving, and how will you present it? What will the prices on your menu be? What kind of ambiance will you cultivate? Make these decisions first so that you have a direction to move in as you embark on your culinary journey.
Once you have a food concept, you have to crunch the numbers. How much risk will you be taking with your concept? How much should you invest to see profits after two years? These are tough questions to ask, but getting some idea of the cost of operations will help you as you plan further.
Ashton Cobb lives and works in his adopted home of Lexington, Kentucky. He is an NFL free agent and is training for the opportunity to join a professional team. In the meantime, he is a server with cooking and catering experience at many venues and with many clients. Cobb says that he hopes to start his own family-oriented restaurant in Lexington, where can cater to families like his own.