Damn the Recession: Why This Is a Great Time to Get Into the Restaurant Business


Don’t be fooled by the doomsday prophecies that have everyone staying inside their apartments and living off ramen and tins of baked beans. According to a lengthy and extremely thorough article Regina Schrambling has penned for Entrepreneur, the bad economy has presented all sorts of opportunities for restaurateurs. Cheap rents, experienced yet unemployed chefs, and a dining public more interested in value than vanity dishes have all conspired to create a surprisingly favorable environment for opening a restaurant, provided its owners have a good business plan and know how to cut costs. Social networking, too, has freed many restaurants from paying publicists, which points to another reason that it’s a good time for restaurateurs but not many of the people actually working for them: What looks like a bargain to a diner looks like a pay cut to just about everyone involved in getting it to the table.

[Via Grub Street]