why do most of rich people invest in running a restaurant/bar?
By s_rana2002
@s_rana2002 (44)
Australia
February 14, 2007 9:10pm CST
i want to open my own restaurant,i can't disclose what sort but i need it to be diffrent from others as everybody would like their restaurants to be different
for that the first and foremost thing i need is money and for which i have to wait a long
but i have seen lot of rich people who already have money invest in reatsurants and bars and to be very honest i couldnt understand why?
is it a profitable business
is it help them to save tax
or any other reason,if you can help me with this?
3 responses
@amit20007sharma (9)
• Australia
15 Feb 07
i think restaurant business is one of the most profitable business
specially where labour cost is less
the food and beverage cost as compared to the profit earned is also high
the only thing which needed to be right is a good business plan and unique concept
as concept sells
ya you need to have a good chef otherwise you would be out of business soon
so think of it buddy and see you would be rich too one day,who knows
@sylvrrain (659)
• United States
15 Feb 07
That may be why they got rich, ever think about that? The mark-up on prepared food is crazy, and the more unique the place is, the more it cost.
If I could open up a place, the bar would look like some kind of Tiki hut, I would have palm trees, tropical plants, waterfalls and parrots decorating the place. All my waitresses and waitors would be wearing clothes that would be made with prints of Tahitian flowers. I would have live island music playing and I would serve seafood and steaks. I would only hire the best bartenders.
It has to be about money. Easy money, even if you are only investing or operating behind the scenes through managers and employees.
Still the most important thing would be offering quality and good customer service, so you could bring in the wealthier patrons.
