“The Smoking Log”

Hot Restaurant Menu Trends for 2014

Posted by on Dec 13, 2013 in "The Smoking Log" | 0 comments

The coming year will be a year of blurred lines in the hospitality industry, with hotel lobbies doubling as living rooms, croissants doubling as doughnuts, and vegetables doubling as dessert ingredients, a hospitality consulting group predicts. “Blurred Lines” was the theme of the latest annual trend-prediction webinar given by Andrew Freeman, chief executive of San Francisco-based hospitality consulting firm Andrew Freeman & Co. After a quick rundown of the trends that are winding down, what’s currently trending and what we’re likely to see next year (see some...

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Are You Cut Out for the Restaurant Business?

Posted by on Oct 15, 2013 in "The Smoking Log" | 0 comments

Going Into the Restaurant Business With Eyes Wide Open Marty Bombenger — SOUTHERN RESTAURANT CONSULTING, Key West, Florida Even for businesspeople who have been successful in other industries, opening a restaurant can be one of the most challenging yet fulfilling entrepreneurial ventures one can encounter. Each year tens of thousands of people begin the process of creating a new restaurant. Their chances of success often hinge on how well prepared they are to face the challenges. Those who approach this business with “eyes wide open” are often in the best position to ensure...

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How to Find Investors & Raise Startup Capital for Your First Restaurant

Posted by on Oct 15, 2013 in "The Smoking Log" | 0 comments

Getting a small-business loan was fairly easy because the boat served as the primary collateral. My partner and I put up some cash and he added a small bit of real estate to round out the collateral needs. The total investment was $80,000. When it comes to restaurant financing, investments of $100,000 or less are typically financed in much the same manner. The owner/operator will usually contribute a portion of the capital and then seek the remainder of the financing needs through their bank, oftentimes seeking the endorsement of the Small Business Administration. That said, one of the most...

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What Restaurants are Selling For Now

Posted by on Aug 13, 2013 in "The Smoking Log" | 0 comments

Want to Unload Your Current Operation or Buy a New One? New Sales Data Can Help You Decide How Much Any Restaurant Is Worth. Restaurants ultimately sell for what the market will bear, and new sales data released by Internet marketplace site BizBuySell provides a clear picture of the valuations buyers are placing on foodservice businesses today. The most recent numbers, covering sales that occurred during the second quarter of 2013, can give you an indication of how you might price your restaurant for sale, how much you can expect to get for it or, if you’re in buying mode, how much to...

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How to Find Investors & Raise Startup Capital for Your First Restaurant

Posted by on Jul 16, 2013 in "The Smoking Log" | 0 comments

Joe Erickson’s initial foray into the world of foodservice ownership resulted when Joe teamed with a business acquaintance who owned a 57-foot catamaran. Together, they started a dinner cruise business on Clear Lake, which is just south of Houston. Getting a small-business loan was fairly easy because the boat served as the primary collateral. Joe and his partner put up some cash and Joe’s partner added a small bit of real estate to round out the collateral needs. The total investment was $80,000. When it comes to restaurant financing, investments of $100,000 or less are...

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How to Influence the Value of Your Restaurant

Posted by on Jun 8, 2013 in "The Smoking Log" | 0 comments

If I ask you to estimate the value of your house, you might research listings and selling prices of comparable properties in your neighborhood or town. Depending on the current state of the housing market, you might be elated or dismayed over the value of your home compared, let’s say, with what you had projected its value would be today three years ago; however, in the latter case I doubt you would say, “I poured my heart and soul into that property, and, the market be damned, I expect to be compensated for it,” or “I’m getting divorced, and I need to get...

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