Tell about Restaurant Business ?

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It takes a certain amount of self-confidence to start your own business, especially a restaurant. And that's a good thing.

Opening a restaurant isn't like the movie Field of Dreams. If you build it, they might come

Even though there are many successful family-owned businesses, including restaurants, you should be careful of hiring from either group.

Athlete Peyton Manning (above) bought 21 Papa Johns locations in Colorado in 2012 right before the state's vote to legalize marijuana. Since its passing, sales in some stores have doubled (source).

You change the whole dynamic of your relationship when you become a family member or friends boss.

The word restaurant is French, originally meaning "food that restores" (source).

A business plan is especially helpful to those new to the food/restaurant industry. As you research information for your restaurant business plan, you may encounter problems you hadn't considered previously, such as licensing, health codes and tax laws.

However, finding enough financing for a new restaurant can be a major stumbling block for many people. So here is a step-by-step guide for those serious about opening a restaurant.

People who want to open their own restaurant often view local restaurants with a jaded eye. "I can make better shrimp scampi than this place." "If I owned this restaurant, I would never have a TV at the bar."

Be careful not mix personal prejudices with business. There is something about these other restaurants that appeal to patrons.

Even if you don't like the idea of a TV at the bar, most customers do enjoy it. When studying the competition, ask yourself, Why do people come here? What's the appeal? Then find it and figure out how you are going to either bring it to your own restaurant or even better, do something unique that no one else offers.

Profit = Sales minus Expenses. If expenses are higher than sales, we can only stay open as long as someone finds extra cash to make up the difference. If it runs out, the business will close.

There are 2 types of Expense: Fixed and Variable. The ingredients for making a pizza or cocktail are variable costs - mostly raw materials and labor. Rent and insurance are examples of fixed costs. The profit made on the pizza or cocktail first have to pay for the Fixed Costs.

The ideal restaurant menu offers a balance of unique dishes and old favorites. You want to intrigue customers with new takes on food they are comfortable eating.

Food and Liquor Stock is just like Cash. Most businesses keep a week's supply of food in stock, and several weeks of liquor. More than this and the boss should be getting worried - it's easy to be overstocked.

Nothing is more frustrating than an unclear restaurant concept. For example, a restaurant that offers over 200 beers, yet has tablecloths. Are you a micro-brew house or a fine dining establishment? Pick one already! Read more about restaurant concept.

Boosting Sales is usually more profitable than Cutting Costs. But most people find it easier to cut rather than grow, so it needs smart leadership to handle them both. When you find someone who loves to sell, look after them!

There are only 100 cents in a Dollar. Take 100 coins and ask staff to divide them up for rent, wages and all the other business expenses. What did they get wrong - any surprises?

Before you create a business plan, write a menu, or dash off to the bank to apply for a loan, you must first decide where exactly your restaurant is going to be located

Staff is usually the biggest expense in hospitality. That's why the boss watches the roster closely, and why productivity is so important. And why wage rises are a challenge, unless there's a matching rise in productivity.

A restaurant's location is as crucial to its success as great food and service. It will influence many parts of your restaurant, including the menu.

Extras or 'On-costs' add 30% or more to the total cost of staff. Examples are workers compensation, leave, uniforms, training and staff meals. For every $100 per week you're paid, add at least another $30.

New equipment is paid for by profits. There's nowhere else to get the money, unless we borrow it (then it has to be repaid). The best equipment has a fast 'return on investment' - it pays for itself quickly by saving labor and ingredients, or creating more sales.