Sanity check

Who in their right mind would start a restaurant? That's what your friends will tell you when you confide your goal--especially if they've worked in one. Other friends who are constantly watching the Food Channel will be envious and fantasize about the restaurant life.

You need several things to succeed. The right location, the right lease, the right timing, good food at the right price, a welcoming host in the dining room. Good health (cause health insurance is an expense you can't afford) and no life because the restaurant will consume you.

And lots of money!! Don't expect to break even for a few years...and the average life span of a restaurant is 5 years. Customers don't understand how you are not raking in the dough if chicken breast sells for $2.50 at the supermarket and you're charging 19.99 for an entree, there has to be lots of profit, right? Factor in rent, triple net, workers' comp, liability insurance, health dept permits, alcoholic beverage permits, tobacco permits, fire inspections, business license, breakage, spoilage, theft, bookeeping and accountant fees, legal fees and it's a wonder anyone makes it past their first year.

But if you're still determined to do it...here are some things I wish I had done from the beginning. Spend the money on a killer website. More and more consumers these days will find you not through advertising but through the web. Thoroughly research your locale. Even if you get a great deal on a lease, if the location's not right, you'll lose your shirt. What kind of vehicular traffic is there? What kind of foot traffic at noontime, evenings and weekends? Is there parking? If you've got a good lease and a good location, you can always change or tweak the menu, make staffing changes, etc. But if the lease is too high or the location not right, nothing else will matter and you should walk away.