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From Restaurant Dreamer to Restaurant Owner - Thousands of Americans Start Their Own Restaurants
Published: Wed, 11 May 2005, 07:18 EDT
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By Aria C. Munro
Staff Writer, Publishers Newswire
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PARKVILLE, MO - May 11 -- In 2004, more than 57,000 business licenses were issued for new restaurants nationwide. Applying for a business license is often the first step that turns a restaurant dreamer into a restaurant owner. "Restaurant Startup & Growth" magazine tracks these statistics since the magazine is written exclusively for this entrepreneurial group.
"We estimate that three-fourths of the new restaurants that opened in 2004 are independent units, not chains," says Restaurant Startup & Growth Co-Publisher Gary Worden, a successful restaurateur himself. "And, according to research, 58 percent of restaurant dollars spent go to independents and small chains."
Restaurant startups basically reflect the population of each state, according to the magazine's research. California leads the country in both population and restaurant startups, followed by Texas, Florida and New York. The other states in the top 10 for restaurant startups are Illinois, Pennsylvania, Ohio, Georgia, North Carolina and New Jersey.
And where are the fewest startups? Vermont, District of Columbia and Wyoming rank in the last three spots when it comes to startups. Even in last place, though, Wyoming issued 78 new restaurant business licenses for 2004.
Poor management and lack of expertise account for more than half of new restaurant failures. That's where Restaurant Startup & Growth comes in. Past articles have covered tax depreciation, garbage management, children as guests, leases, floor plans, food costs, menu design and more. Each issue contains basic information on marketing techniques, human resources and legal issues, and financial management.
Worden is confident that the back-to-basics information the magazine presents will help lower the failure rates for new restaurateurs. "I wish I had this magazine as a resource when I opened my first restaurant," he says. "The restaurant is a success, but I could have saved myself a lot of money."
In fact, new restaurateurs spend money in disproportionate amounts to established restaurants, according to Worden. Restaurant consultants estimate the average startup cost for a new restaurant to range from $250,000 to $500,000. "That's more than $13 billion of new money coming into this dynamic industry, and we want to make sure our readers spend that money wisely," he says.
Restaurant Startup & Growth offers a sample copy at www.restaurantowner.com.
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