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That's it, after seeing this thread I am getting into the restaurant business. I can see the returns are far better than the business I am in.
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Originally Posted by miata2fast
(Post 1036694)
That's it, after seeing this thread I am getting into the restaurant business. I can see the returns are far better than the business I am in.
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Originally Posted by Braineack
(Post 1036660)
One thing puzzles me- they claim that "You’ll see any discrepancies, spotlight top-selling brands (and “dead” stock), streamline purchasing, and even highlight shifts costing you the most." If they only weigh the liquor once a week, how can they pinpoint individual shifts which are causing the most loss? |
Originally Posted by sixshooter
(Post 1036576)
Expect to not be able to pay yourself for a long time, but rather to continue to spend large portions of your savings propping the place up after you have spent a large sum of money purchasing it. It often takes 12-18 months for an experienced manager to get the cashflow to a positive number to begin to pay off debts. Until then much of it comes out of pocket for the food, mortgage, electric, payroll, etc. You will be spending more than you will take in for many months.
Wait! Did you say you will be re-naming the place and changing the menu? Then why are you paying money for an existing business? All you buy is a reputation and a "brand" when you spend anything more than the cost of the building and equipment. If you are changing the brand then you only need a lease and the equipment and are throwing money away if you are spending a dollar more.
Originally Posted by Ryan_G
(Post 1036588)
This is actually a very great point that has not been mentioned yet in the thread.
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Originally Posted by miata2fast
(Post 1036694)
That's it, after seeing this thread I am getting into the restaurant business. I can see the returns are far better than the business I am in.
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Originally Posted by Joe Perez
(Post 1036735)
This is interesting, and I'd never even heard of an external liquor-auditing service before.
One thing puzzles me- they claim that "You’ll see any discrepancies, spotlight top-selling brands (and “dead” stock), streamline purchasing, and even highlight shifts costing you the most." If they only weigh the liquor once a week, how can they pinpoint individual shifts which are causing the most loss? I don't see that claim. I'd assume you couldn't pinpoint it like that... You could possibly review the POS and see when/who is serving what particular alcohol that's suffering from "shrinkage" and possibly figure it out? |
2 Attachment(s)
Originally Posted by Braineack
(Post 1036749)
I don't see that claim.
https://www.miataturbo.net/attachmen...1&d=1374777995 You could possibly review the POS and see when/who is serving what particular alcohol that's suffering from "shrinkage" and possibly figure it out? This would also tend to presuppose that the ratio of vodka sales to rum sales (as an example) varies dramatically from shift to shift in a predictable pattern. (eg: people only buy vodka from 2p-4p, but never buy rum during that time, and they only buy rum from 9p-1a, but never vodka.) I'm pretty sure that drink-ordering doesn't work that way. |
sounds like that's referring to an initial audit where they might be measuring after every shift, each day to provide initial stats.
yeah see, next sentence is: we'll then sit your staff down and out them as thieves. |
Originally Posted by Scrappy Jack
(Post 1036714)
sixshooter's compelling pitch sold you, huh? :D
Originally Posted by Pinky
(Post 1036747)
Right? I was initially filled with excitement and anticipation, then came the night of Fear and Crippling Doubt, and now I just feel a little queasy. :crx:
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Originally Posted by miata2fast
(Post 1036817)
It sounds like a living hell, but some people are drawn to that kind of life I guess. I know a few people in the business. Some are successful, and some are barely making it.
You never know, it might be a fun new adventure for you. I am sure you know the peril of trying something new. Only you will have that feeling whether it is a good idea or not. It definitely takes a certain kind of mindset to make that kind of investment. And in every case I rocked the job. Like I mentioned before, I have a weird knack for figuring stuff out really quickly. I'm pretty much dumb as a post in every other way, and completely ADD, but I have that one ability (lol, it's probably borderline Autism or something..) and it's served me well. I'm good on my feet, I'm an ISTP, off the charts, if you're familiar with Meyers Briggs profiles, and good in full crisis mode. Happiest, even. I think restauranting is right up my alley. |
Any update?
I have been formulating a restaurant business concept/plan and have made several connections that I plan to tap soon for everything from funding, to grants, to mentorship and am eager to hear how your venture is turning out. |
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