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]