FREQUENTLY ASKED QUESTIONS


What does Restaurant Entrepreneur do?

Restaurant Entrepreneur trains, educates, and prepares individuals for successful entrepreneurship.

At Restaurant Entrepreneur's educational core is the seminar series. The seminars follow and elaborate on the precepts first presented in Kep Sweeney's book, The New Restaurant Entrepreneur. Thus, the book is an important complement to the seminars.


What does that mean?

Business is difficult. Across industries about 90% of entrepreneurial ventures fail. However, where success exists, very little can be attributed to luck.

The key decisions are taken before capital is committed. Perhaps especially in the restaurant industry, this stage of the business is routinely and critically overlooked. We call the 1 in 10 who succeeds, who achieves his dream, THE TENTH ENTREPRENEUR.


The Tenth Entrepreneur?
The one who separates himself from the masses; the person who fearlessly makes decisions and responsibly manages the consequences. THE TENTH ENTREPRENEUR is the rare individual who personifies discipline, vision, and action.

Discipline means that the entrepreneur does not avoid difficult situations or decisions. His preparation is difficult, time consuming and far from glamorous. He sets a high standard and leads by example.

Vision means that the entrepreneur knows the result of the enterprise. He can describe in great detail the look, feel, smell and sound of the business. He does not waste time on unimportant tasks, because everything he does comports with his strong, clear vision.

Action means that once the entrepreneur identifies an important task, he completes it. Completes it - not just to 80%. Furthermore he always does the most difficult thing first. He looks forward, managing rather than repenting decisions gone awry.

Why is this sort of training important?

Business is difficult. Most fail. No entrepreneur thinks he will be the one to fail. If he did, he would not have gone into business. Reality tells us though, of 10 intelligent, motivated and committed individuals, 9 will fail. At least they will fall well short of their expectations.

Success is predicated on:

1. Making the right decisions before committing the investment.
2. Making practical decisions when results diverge from plan.

Is this seminar for restaurateurs only?

The focus is on the hospitality industry, but the vast majority of the concepts taught are applicable to most entrepreneurial ventures.


What qualifications does RE have to deliver these seminars?

Our principals combined are (or have been): entrepreneur, chef, CPA, MBA, investment banker, Wall Street restaurant analyst, commercial banker, restaurateur, author and restaurant industry consultant with expertise in start-up, turn-around, brand positioning, corporate strategy and organizational management.


When and Where are the seminars held?

The seminar series travels throughout the large metro areas of the country. In this way, the time and monetary commitment of the entrepreneur is limited. We try to facilitate the important tenant that the entrepreneur should spend most of his time with his staff and customers.


Who should attend?

• Prospective restaurateurs: this seminar is ideal for anyone considering opening a restaurant in the next 24 months (creating a concept and launching a restaurant takes a long time - to get it right).
  • Independent restaurants and
  • Franchise operators - the curriculum here is well beyond what is provided by the franchisee
• Current restaurateurs: Whether the entrepreneur is considering expanding his franchise or wants to make an honest assessment of his current enterprise.
  • The greatest hurdle in building a chain is opening the second unit. In building another restaurant, the personal charisma of the owner/operator must be complemented by appropriate systems.
  • Second only in importance to making the proper decisions before committing capital, is making practical decisions when results diverge from plan.
• Food and Beverage professionals with some p&l responsibility.
  • Many F&B jobs are very entrepreneurial. Managers need to know how to build an appropriate team, negotiate and especially make decisions in the context of Returns on Capital.

Are there any take-aways?

Yes. Each attendee will receive:

1. A workbook that will be used during the seminar to facilitate discussion of each topic.
2. A resource book with local merchants serving the restaurant industry. This will include everything from florists and uniform suppliers to financial & business services, technology vendors, food and beverage purveyors.
3. A sample business plan that will be created during the seminar from discussion with participants on that day.