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04/11/2011

Zagats Advice To Friends: Don�t Open A Restaurant!

Nina and Tim Zagat, the co-founders and publishers of Zagat Restaurant Surveys, advice to friends wanting to open their own restaurant is simple and succinct: �Don�t do it!�

Here�s why �

         There�s a 60% probability that you will fail within the first three years.

         Many skills beyond being a great host or good cook are required.

         The actual work is physically demanding.

         You�ll need a knack for real estate � securing a good location at a reasonable rent.

         A good eye for interior design is required, since diners must enjoy time in your space.

         You�ll have to be adequately capitalized so you don�t run out of money.

         You�ll have to be a savvy buyer of perishable produce in bulk.

         Good leadership skills are a must as you hire, train and manage others.

         Playing a friendly host with a good memory (remembering names) is a must.

         You�ll want to be media-savvy and on top of public relations and advertising.

         Understanding social media for good reports on Twitter and Facebook is important, too.

         Ditto for understanding the new reservation and table management systems.

         You�d better train to be a plumber and electrician, you�ll likely need both.

         Serving hundreds of people a la carte is totally different than cooking a meal for a few friends.

In short, the Zagats� comments reinforce the fact that opening a restaurant is no hobby.



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