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The New Restaurant Entrepreneur: An Inside Look at Restaurant Deal-Making and Other Tales from the Culinary Trenches
 
 
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The New Restaurant Entrepreneur: An Inside Look at Restaurant Deal-Making and Other Tales from the Culinary Trenches [Paperback]

Kep Sweeney (Author)
4.6 out of 5 stars  See all reviews (7 customer reviews)


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Book Description

079318567X 978-0793185672 June 1, 2004 Original
Success stories abound, but the specter of failure hovers over the launch of any new eatery. Kep Sweeney, a veteran investment analyst for the industry as well as a chef and successful restaurateur, reveals how the most fatal stumbling blocks often occur at the preopening, or deal, phase, when funding, partnerships, and a clear concept are developed and finalized. At this stage, however, many excited, overconfident dreamers want to charge ahead, believing everything will "work itself out."

The New Restaurant Entrepreneur is solely devoted to this first phase of restaurant start-up, revealing the perfect combination of art and business planning that makes a new restaurant sizzle, instead of fizzle. Sweeney offers practical, expert advice to readers whose knowledge of business development may not be quite as far-reaching as their vision, drive, and imagination. Even veteran restaurateurs will find this guide a helpful reminder of where to focus their energies. Readers will learn to:

• Ask-and honestly answer-key questions that will successfully develop the concept.
• Toss out the notion that cuisine alone can differentiate the restaurant.
• Predetermine the evolution of a customer’s experience, from first-timer to regular.
• Form a crackerjack team based on a savvy selection of managers and waitstaff that complements the owner’s strengths and weaknesses.
• Look for financial partners with similar financial and personal goals-and learn to avoid the "tire kickers."

In 14 years working in the industry, Sweeney has seen dozens of mistakes, some made by the largest restaurant chains. He’s also witnessed-and had a hand in-some spectacular successes, including Dylan Prime, Morton’s, and Damon’s.



Editorial Reviews

From Booklist

A successful new restaurant represents a conjunction of talent and business sense that absorbs both capital and aesthetic energy. Sweeney began his professional career working in the kitchen of San Francisco's venerable Jeremiah Tower. After rising to head chef at another restaurant, Sweeney went bust managing his own operation. So he decided to get an MBA to help prevent future restaurateurs' errors. Sweeney focuses on the "deal" that creates a restaurant: a vision, a partnership, and a financial plan. He believes that if these are successfully addressed, the restaurant has maximized its chances for success. He advocates analyzing demand and doing careful marketing to be sure the menu attracts the right audience. He exhorts restaurateurs to pay careful attention to location and to plan cash flow carefully. Sweeney covers the business side of restaurants objectively and in such careful detail that anyone contemplating opening an eatery can use the author's organizational insights to minimize risk and to maximize chances for success. Mark Knoblauch
Copyright © American Library Association. All rights reserved

Review

"Sweeney offers expert advice...this is an excellent guide for both novice and veteran restaurateurs." -- Nation's Restaurant News

"This book should be required reading. ... it's a useful primer and handy reference." -- My Table magazine

Product Details

  • Paperback: 213 pages
  • Publisher: Kaplan Publishing; Original edition (June 1, 2004)
  • Language: English
  • ISBN-10: 079318567X
  • ISBN-13: 978-0793185672
  • Product Dimensions: 9 x 6.4 x 0.7 inches
  • Shipping Weight: 11.2 ounces
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Best Sellers Rank: #770,331 in Books (See Top 100 in Books)

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Customer Reviews

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Average Customer Review
4.6 out of 5 stars (7 customer reviews)
 
 
 
 
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5 of 5 people found the following review helpful:
5.0 out of 5 stars Fresh and original, April 23, 2005
By 
K. Burgin (Sydney, Australia) - See all my reviews
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This review is from: The New Restaurant Entrepreneur: An Inside Look at Restaurant Deal-Making and Other Tales from the Culinary Trenches (Paperback)
There are a lot of 'how to open a restaurant' books around, most of them rehashing the same material. This one is fresh and different, based on the author's experience and dedicated to ensuring the investor sees a return on their money. Easy to read and relevant for most entrepreneurs.
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1 of 1 people found the following review helpful:
4.0 out of 5 stars A differing book in restaurant management, April 11, 2009
This review is from: The New Restaurant Entrepreneur: An Inside Look at Restaurant Deal-Making and Other Tales from the Culinary Trenches (Paperback)
You can guess how it stands out by its name. This book gives you a more in-depth guide in management and investor relation as well as negotiation, which is essential for an entrepreneur.

The book does not focus on how to create a kitchen, or how to arrange a dining room. Instead, it suggests how to get a deal done, and how to make profit.
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1 of 1 people found the following review helpful:
4.0 out of 5 stars Great Case Studies, November 7, 2006
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This review is from: The New Restaurant Entrepreneur: An Inside Look at Restaurant Deal-Making and Other Tales from the Culinary Trenches (Paperback)
As an MBA looking to start a foodservice business, this book has been invaluable. Sweeney clearly links good business practices with the specific needs of the industry, and provides entertaining stories that really teach along the way. A great book for anyone with a business background, but also easy-to-read and digestible, so it should be accessable to anyone.
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Inside This Book (learn more)
First Sentence:
An entrepreneur encounters three distinct stages in developing a restaurant: Phase 1, the deal; Phase 2, the build-out; and Phase 3, operations. Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
greater success raising money, brand schematic, controllable hours, distributable cash flow, cash flow distribution, lunch sales, restaurant entrepreneur, dinner sales, check average, cash flow margins, restaurant deal, real estate strategy, operating partners, tire kicker, average check, restaurant company, percentage rent, ownership percentage, potential hires, restaurant companies
Key Phrases - Capitalized Phrases (CAPs): (learn more)
New York, Cost of Sales, Gross Profit, Los Angeles, Pro Rata Proceeds, The Cheesecake Factory, The New Restaurant Entrepreneur, Samba Room, Outback Steakhouse, Dylan Prime, Ruth's Chris, Use Your Skills, Cost Margins, Income Taxes, Jul Week, Profit Margins, Required Return, Revenue Driver-Week, The Critical Positions, Total Bar Sales, Total Dinner Sales, Total Lunch Sales, Wall Street, Atlantic Pearl, Available Available
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