Find out the "First Things, First" - What you need to know and do, so you can actually DO IT!

In How to Open a Restaurant: Due Diligence, you will gain information and incite while completing the 13 Instructions. Following this guide is doing your Due Diligence; pointing you toward the reality of realizing your vision and starting your new restaurant.

Testimonial: I have to say How to Open a Restaurant: Due Diligence is very well done and extremely actionable. I have read other books on this subject and they have not been nearly as informative and detailed. Breaking down the whole process into different phases makes it even more efficient, saving time and money. I look forward to working with you, Frank.
~ Mark Giannopoulos, Pizza Pende

Wednesday, January 26, 2011

How to Open a Restaurant: Due Diligence, by Frank Stocco

Book Available.
Excerpt from the book: Foreword
There has never been a book in the foodservice industry that focuses solely on the expertise needed to open a restaurant. All the published books and manuals focus on restaurant and foodservice management. This manual is designed to provide a sort of “internship”, preparing you thoroughly with a detailed guide to opening your restaurant within a required and realistic pre-opening budget. Visualizing and preparing such things as your concept and vision will save countless thousands of dollars in every aspect of opening, and ultimately operating your foodservice facility.
Preparation is key. There are statistics available that indicate the success and failure rate of foodservice facilities. These statistics do not tell you why restaurants fail, only that an unacceptable number do fail. So what does the general public and banking institution assume? They assume that restaurant failure is due to mismanagement and a lack of expertise. In some cases that is true. However, in most cases, the fate is sealed the day the restaurateur is fully committed to open a restaurant or foodservice facility.
The first question a venture capitalist or lending institution will ask you is, “What is your culinary background and are you qualified to manage a restaurant?” I am sure your answer will be a resounding “yes” and I am sure you will be able to back that up with documentation of exceptional qualifications. My question is, “Are you qualified to open a restaurant?” There are many great chefs and restaurant managers who have failed due to what happens before the restaurant opens. Was the restaurant mismanaged? Absolutely not. Think about it. Have you ever seen a restaurant close and wonder why because it was always so busy? It happens too much of the time. 
The main reason so many restaurants fail is that they are mismanaged before, not after, they open. Most likely they were under-capitalized—even tens of thousands of dollars in the red, the day they opened. It is a very complex endeavor, but definitely not impossible. You can realize your vision with confidence if you do your “Due Diligence”. In this step by step manual, How to Open a Restaurant: Due Diligence, I will take you from the conceptual stage to the Grand Opening so you can go beyond.
The goal is to save you literally thousands of dollars, and even help you gain financial advantage by using this chronological comprehensive guide. Each instructional chapter is a workbook style manual with space for notes and vital information that pertains to the respective Instruction. Look at it as your internship.
Even seasoned restaurateurs will benefit from all of the tips, tactics and organizational information presented. When the 13 Instructions are studied and followed, the worksheets completed and your restaurant is open, you will have an in-depth journal that contains all of your critical information. This will serve as an invaluable resource for your success in future endeavors.

—Frank Stocco
View the Table of Contents. View the Introduction.
Find more excerpts from the book on the Frank's Restaurant Consulting blog
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