“If it weren’t for bad luck, I wouldn’t have any luck at all”... “Everything happens for the best”... These sayings are more relevant today than ever to the restaurant business. If it weren’t for the crisis...

The cost of renting premises is decreasing, talented chefs are out of work, people are looking for good, tasty, and healthy food – not luxury and glitter. Therefore, opening a restaurant right now, during a crisis, is not madness, but a farsighted and very correct move. There are many examples in history where restaurants opened during times of crisis or depression later became world-famous and brought huge profits to their owners.

You don’t need to rent a huge space, hire a bloated staff, and buy equipment, furnishings, and other necessities at insanely high prices. All you need to do is find a small, suitable place for a restaurant in a good, crowded area. This is not a problem today. Hire a tiny staff, create an eclectic (select) menu at affordable prices, and hire not the most famous but atalented chef.

Choosing the Right Restaurant Style, Menu, and Interior Design Choosing the right restaurant style, menu, and interior design can bring huge and unexpected success. If you approach everything creatively and do it well and properly, you will surely succeed. People want to eat good and tasty food and drink good beverages in a pleasant setting even during a crisis.

Of course, there is grim restaurant business statistics. Namely, three out of four newly opened restaurants close within the first three years. But this statistic is the same for good times and bad. Therefore, it should not be given too much attention.

The main thing is to consider this risk in your business plan and keep going. Let’s look more specifically at the reasons why it is worth getting into the restaurant business today.

Rent Costs Have Dropped Almost by 50% This applies to rental costs even for the best and busiest “corners,” “intersections,” and “streets.” Often, owners are willing to lower the rent even more.

Focus all your energy on finding a good location for the restaurant. Location is the first thing that should concern you. An excellent location will practically guarantee your restaurant’s prosperity and success. Today is the most suitable time for finding a good location. Many vacant premises and very low rental costs are available. You may have a small staff and a small space, but the location should be truly good.

Many Talented and Well-Known Chefs Are Desperate for Jobs Today, a huge number of talented, and sometimes very famous chefs and other restaurant business professionals desperately need jobs and are willing to work for a small but reasonable fee.

Today, by the most modest estimates, opening a new restaurant will cost significantly less than it did before the crisis began. Just a couple of years ago, opening a restaurant could cost millions, today the amount needed to open a restaurant contains far fewer zeros. Today, opening a restaurant can cost a new restaurateur less than 50,000 USD.

Luxurious tables and chairs, “star” chefs, and an expensive menu consisting of truffles, lobsters, and foie gras are not relevant today. To put it simply – they are just outdated. Simple, cozy, and well-decorated spaces with “earthly dishes” prepared with soul by a good chef and at “down-to-earth” prices are valued more by people today and thus bring more profit.

Today People Value Healthy, Simple, and Nutritious Food People do not value a maître d’ dressed to the nines inside a restaurant. People value what’s on their plate, not the luxury and glitter around them.

Here is what might be included in the budget for opening a restaurant today:

• Rent
• Expenses for renovation and modernization of the premises
• Expenses for necessary documentation and certificates
• Expenses for inexpensive napkin holders, tablecloths, and utensils
• Expenses for a staff of 10-15 people
• Expenses for food and drinks
• “0” expenses for public relations
• “0” expenses for an administrator (table reservations can easily be managed throughyour restaurant’s website) and managers.

As you can see, the expenses are not many. You can increase or decrease them at your discretion.