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The Growing Restaurant Industry • Look at the Handout with Industry Trends • In the U.S., the restaurant industry employs the second most employees only behind the government. • In 2006, estimated sales from restaurants in the U.S. should reach more than $511 billion. • The total economic impact of restaurant sales is more than $1 trillion in the U.S., largely because every dollar spent in a restaurant generates more than two dollars in business for other industries. • People Eat Out a lot. It is estimated that of the dollars an individual spends on his total food consumption – over 50% will be spent at restaurants by 2010. The Benefits To You What is the Allure to this Business? Whatever it is, it would explain why, even though they have exciting and glamorous careers, and all the money they can handle, so many stars own restaurants. Being a restaurant owner is all about being creative and being in charge. Outline for the Day 1) Introduction by all 2) What are the skills necessary to do this job successfully 3) Conceptualize, plan and develop your restaurant 4) Writing a good Business Plan (BP), Forming a company, Build a leadership Team 5) Getting ready to Open 6) Day to Day operations 7) Budgeting for Success 8) Q & A Skills Needed to own a Restaurant You must be Organized and Aware You must be Flexible You must be Creative You must have People Skills You must be Business – Minded You must be a Restaurant Fanatic What a Restaurant Owner Does He/ She does or oversees: Greeting of guests, accepting compliments and handling complaints Staffing of the kitchen, dining room and bar Working on Promotions and special events Ordering Food, liquor, beer, wine, general supplies Dealing with repair and maintenance issues Doing the daily books and paying bills
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