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What Does It Really Cost to Run a Restaurant?
Owners usually pay themselves much less than you might imagine, especially in the early days, preferring to plow the profits back into their businesses.)
Verne Harnish • Scaling Up : How a Few Companies Make It...and Why the Rest Don't (Rockefeller Habits 2.0)
We saw that the restaurant business is wonderfully efficient precisely because restaurants, being vulnerable, go bankrupt every minute, and entrepreneurs ignore such a possibility, as they think that they will beat the odds.
Nassim Nicholas Taleb • Incerto 4-Book Bundle
As I said in Chapter 2, very few small business managers know their fully loaded direct costs for labor and materials, and this ignorance is not bliss—it is driving blindfolded.
Dawn Fotopulos • Accounting for the Numberphobic: A Survival Guide for Small Business Owners
In the United States, there are more than a million, according to the National Restaurant Association; together, they provide 15.6 million jobs. The number of those that are considered middle-class—which pay between $45,000 and $75,000 a year—has grown 84% between 2010 and 2018, a rate three times higher than the overall economy. In other parts of ... See more
Vanity Fair • “You Can’t Speak in Strong Enough Dystopian Words to Describe It”: Why the Coronavirus Pandemic Could Change Dining as We Know It, Forever
‘From my side of the [advertising/editorial] wall, we know restaurant margins aren’t great.
Kristen Hawley • Eater launched an app today
Sixty-five meals a night (at least in my place) means we'll all be out of work—and fast. Two hundred fifty to three hundred meals a night is more like it when you're talking about a successful New York City restaurant and job security for your posse of well-paid culinarians in the same breath.