“Restaurant Startup” on CNBC – very cool story and interview with the stars of the show – Joe and Tim – who put their own money behind start-ups who can convince them to invest.
Now that’s reality.
So is this:
“So, listen, this is what you need to know about the restaurant business: Thirty percent of your cost is your food. Thirty percent is your labor. Twenty percent is miscellaneous shit like rent, bug spray, and insurance. Twenty percent needs to be left for you. Your rent should be what you gross on your slowest day of the week, and if you’re not making double what you made in the job that you gave up to open your restaurant, then you just bought yourself a job, and you’re not really in the restaurant business,” Joe Bastianich says. “That’s what everyone needs to know.”
Yup – Love it.
Thanks to Christine Champagne and Fast Company that published the piece.