Have you harbored a dream of starting your restaurant? If yes then you would probably have all the plans in place and a host of ideas for making the business work.
However, the excessive investments involved have ensured that your intentions are yet to be put into action, haven’t they? We can hear a collective sigh in answer to this question, and most heads were nodding despondently in the affirmative. After all, dishing out the rent for the dining hall, purchasing expensive crockery and cutlery, spending a fortune on the decor, managing the salaries of a large staff; they all combine to take a massive financial toll on you. Most restaurateurs struggle to set their dream into motion. Of the ones that do, 26% fail in their very first year; primarily due to unmanageable expenses. The number would more than double itself if you extend the period to 5 years.
A decade or two ago, this statement would have sounded delusional. Today, the existence of the ghost restaurant model provides a tacontinue reading →