So, You Want to Open a Restaurant …

Honesty and clarity across the board, setting priorities and having a great legal mind on your side were among the thematic takeaways from a special discussion jointly hosted by Journee and Open Table. Panelists included Alison Arth, Founder and Principal of hospitality consulting company Salt & Roe; Georgette Farkas, owner of Rotisserie Georgette; Journee Founder Anthony Rudolf; and John Winterman, Managing Partner at Batard. Best practices on crafting business plans and the care and feeding of investors were just a few of the talking points.

Winterman said he believed constructing an honest, realistic business plan is a crucial element for any fledgling restaurant. He added that aligning the budget with the calendar is a savvy move because it enables owners to more accurately plan for expenses such as labor and food.

“Under promise and over deliver,” Winterman advised. “Investors are looking for honesty. Our business plan was based on realistic growth.”

When opening her…