The most prestigious law school admissions discussion board in the world.
|
 |
 
|
is owning a restaurant one of the hardest businesses out there?
Poast new message in this thread
Date: April 17th, 2018 11:29 AM Author: Tantric property seems like such a grind
low margins, high probability of failure, constantly need to micromanage your employees
but it's sooo glamorous!!!111 |
Date: April 17th, 2018 11:30 AM Author: twinkling arousing box office yeah (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35858761) |
|
Date: April 17th, 2018 11:34 AM Author: maize misanthropic locus Gotta be (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35858813) |
 |
Date: April 17th, 2018 11:58 AM Author: Tantric property ya (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859013) |
|
Date: April 17th, 2018 11:59 AM Author: Canary painfully honest depressive yeah (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859018) |
|
Date: April 17th, 2018 11:59 AM Author: Tantric property i don't get why so many ppl are attracted to it. it's a shitty business model (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859025) |
|
Date: April 17th, 2018 12:00 PM Author: Chestnut parlour coldplay fan yes
my uncle had a mongolian bbq place - alot of work to run it, but i think during the warm weather months he'd make 10K everyday |
|
Date: April 17th, 2018 12:00 PM Author: Slap-happy den Food truk is easy (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859031) |
|
Date: April 17th, 2018 12:00 PM Author: at-the-ready excitant school juggernaut (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859035) |
|
Date: April 17th, 2018 12:01 PM Author: drunken casino digit ratio I know some people who did very well off of it, but its a ton of work (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859038) |
|
Date: April 17th, 2018 12:01 PM Author: Outnumbered Walnut Church Building National Security Agency lolno.
Sit at a bar all night sip a cocktail while watching your hostess's ass and greeting guests.
so hard! |
|
Date: April 17th, 2018 12:02 PM Author: razzmatazz light garrison ceo we need that poaster in here who represents big restaurant chains to give some insights. i love reading his stuff. (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859046) |
|
Date: April 17th, 2018 12:05 PM Author: drunken casino digit ratio I represent multiple restaurant chains. Not nationwide but southeast. (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859067) |
|
Date: April 17th, 2018 12:07 PM Author: spectacular theater Tells us more about your crab-forward strategies for Q3 (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859092) |
|
Date: April 17th, 2018 12:11 PM Author: drunken casino digit ratio there's a serious labor shortage right now in the restaurant industry. Really hard to keep employees. (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859129) |
|
Date: April 17th, 2018 12:06 PM Author: vigorous rehab five guys manager tp? (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859081) |
|
Date: April 17th, 2018 12:10 PM Author: razzmatazz light garrison ceo no, the guy who poasted at length in that thread where TSINAH speculated on opening a restaurant (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859120) |
|
Date: April 17th, 2018 12:13 PM Author: razzmatazz light garrison ceo Sotomayor McCheese
http://www.autoadmit.com/thread.php?thread_id=3818071&forum_id=2#34839799 |
|
Date: April 17th, 2018 12:06 PM Author: Gay Thirsty Stage i worked at some chinese restaurants in college. (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859088) |
|
Date: April 17th, 2018 12:03 PM Author: Gay Thirsty Stage be prepared to fill in after your dishwasher nods out the day after every payday. (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859049) |
|
Date: April 17th, 2018 12:05 PM Author: Gay Thirsty Stage also be prepared to slyly hire illegal aliens (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859070) |
|
Date: April 17th, 2018 12:07 PM Author: spectacular theater I'd hire you to rough up anyone that gets out of line (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859098) |
|
Date: April 17th, 2018 12:06 PM Author: opaque round eye multi-billionaire you get managers who are willing to bust their asses for $60k a year while you make $600k doing the same amount of work. (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859090) |
|
Date: April 17th, 2018 12:10 PM Author: Mahogany sneaky criminal It's about them Olive Garden bread sticks . (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859123) |
|
Date: April 17th, 2018 12:14 PM Author: Bespoke swollen parlor It’s basically impossible, which is why there are so few restaurants. (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859148) |
|
Date: April 17th, 2018 12:14 PM Author: titillating cerise karate ladyboy tbf they are also mostly started by dumb proles (http://www.autoadmit.com/thread.php?thread_id=3951571&forum_id=2#35859150) |
|
Date: April 17th, 2018 12:17 PM Author: Aromatic honey-headed keepsake machete range "Owning" a restaurant is pretty easy.
Making it a sustainable, profitable business is another story. |
|
Date: April 17th, 2018 11:54 PM Author: navy hateful abode voyeur The terrible part is that you are perpetually hiring/training both back of house and front of house because all of your good employees leave and you need to fire a decent chunk of the people you hire. You can either pay two people 90-110% of the pre-manager profits to do this work (and replace them every 2-3 years), or you can spend every minute of the rest of your career teaching drunk, stupid, clueless, non-English-speaking and/or drug-addled individuals randomly selected out of the unemployed population how to cook a steak, carry plates, talk to fellow humans, and clean toilets. Good luck with that.
Also, a good restaurant that is well managed generates decent pre-tax earnings on the invested capital, but the real gravy is that all of your expenses (including personal expenses) are now deducted on your tax returns and a bunch of your cash receipts somehow fail to make it onto the same tax return. So you are running a restaurant that legitimately makes $100k/year pre-tax, you cook the books to where the business pays no taxes and you take home $100k. For example, your personal spending on food and wine just dropped to $0. Everything the goes in your mouth is now a restaurant expense. Your babysitter? She works at the restaurant. Car? You use it to make deliveries. Is it legal? No. Will you be caught? Probably not. |
|
Date: April 18th, 2018 12:07 AM Author: Glittery Community Account Pretty much cr
The thing about running cash businesses is that there is a certain amount of tax fraud that is pretty much accepted, even among the authorities.
Even if you get caught, you're almost certainly going to not face criminal prosecution unless you were going absolutely buckwild |