Many aspiring entrepreneurs have identified restaurant ownership as a viable and exciting way to enter into the business market, but have not properly assesses what it takes to be a successful owner.
Bronwyn Oliveira, Brand Manager of Maxi’s, discusses the various factors that need to be considered before the decision to acquire ownership is taken.
Restaurant ownership is increasingly being viewed as a lucrative business proposition for up and coming entrepreneurs, with the opportunity being presented of being your own boss, and having the means to potentially achieve financial independence.
What is particularly attractive about becoming a restaurant owner is that it requires no specific educational requirements. As long as you have the requisite finances, property and inventory, you can assume ownership.
However, while this offering is an exciting venture to explore, entrepreneurs need to seriously evaluate the pros and cons of this market, and determine their suitability to be a successful restaurant owner, before diving head first into the unknown.
While anyone with enough financial resources could potentially own a restaurant, it takes someone with a great amount of desire, passion and know-how to run a profitable one
The job description of a restaurant owner involves numerous duties, and it’s important to remember that ultimately, the owner is accountable for the success or failure of the business. Those who thrive as restaurant owners require a great deal of managerial and communication skill, analytical capability, self-confidence, dedication, and leadership qualities.
Besides assuming ownership of the restaurant, you will also be tasked with the responsibilities of running and maintaining the business, and will often have to serve as the restaurant manager as well. Your actual job description will be dependent on which other workers are employed, as they will often be able to supervise various departments and take care of many logistical aspects, thus relieving some of the pressure on your shoulders.
It is therefore crucial to hire people who are adept at caring for the daily functions of the business, including ordering, overseeing and tracking all of the food, equipment, supplies and other inventories that are required. This person will also need to take responsibility for hiring, training, scheduling, directing and dismissing employees, and maintaining the equipment, building, parking lot or any other property of the business.
However, the bottom line remains that as the owner, you are ultimately responsible for ensuring that the business runs efficiently and professionally on a daily basis, and of overseeing the finances, promotions and overall goals of the restaurant.
Most often, the owner is the first person to arrive at the restaurant, and the last person to leave. They are also required to be present at peak period, including weekends and public holidays.
The environment of a restaurant can be tense and chaotic at times, and these situations should be handled in a rational and prudent manner. A restaurant owner is essentially the ‘face’ of the business, and must therefore always deal with customer complaints promptly and professionally.
Once these all these factors have been taken in to account, then an individual can accurately asses whether they have what it takes to be a restaurant owner.
For those who are still uncertain, it is pertinent to note that becoming an owner within a franchise chain offers several advantages, including access to a built-in customer base and support network, an already identified business niche, and lower risk in general
Maxi’s offers new restaurant owners many of these advantages, particularly as it is rapidly becoming the number one family restaurant nationwide. It already has a strong brand following, with 70 trendy quick-services sit down restaurants in operation across all nine provinces in South Africa.
This customer loyalty is primarily based on Maxi’s impressive record in the food and franchising industry since its inception in Pretoria in 1993, with the franchise having already won the Franchise Association of South Africa’s Brand Builder of the Year award.
So once you decided that you’re up for the job of being a restaurant owner, perhaps you should consider joining the Maxi’s family, and gain the opportunity to enjoy extended success in the food services business.
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