Owning a restaurant can be lucrative and exciting. This is mostly the dream of vast food-service crews who aspire to handle more duties and believe they have the capacity to run a restaurant successfully and smoothly.
What is a restaurant owner?
Restaurant owners serve as the backbone for restaurants. Restaurant owners are persons who ensure that their restaurant gets noticed, both in reviews and advertising. They are responsible in delegating a number of duties to their staff.
Duties of a restaurant owner
- A restaurant owner holds primary responsibility with the entire financial matters about the restaurant. If owners are starting their own restaurants, the owners find ways for financial investments or secure loans to establish a business. There may also be co-owners having financial stakes in a certain restaurant. All profits and debts are the foremost responsibility of restaurant owners.
- Profit sharing exceptions are also made which generally depends on some contractual agreements with other staff members.
- A restaurant owner hires any staff members or personnel that he thinks important with delegation of tasks which includes general manager, accountant, head chef, head bartender and maitre d’hôtel.
- How restaurant hierarchy management is structured is one of the tasks on an owner unless other business partners or stakes are involved. If restaurant owners are very hands-on with some of the duties, they may opt to do several tasks by themselves. Payroll is also the restaurant owner’s responsibility unless if he or she hires a payroll service or an accountant to handle that job.
Condition of work
Restaurants can be very chaotic and tense at most times which should be handled in a proper and rational way. The restaurant owner is usually the first personnel to arrive early and last to leave. A restaurant owner’s presence is usually required especially at busy times like holidays and weekends.
There are no detailed educational requirements in becoming a restaurant owner as long as you have adequate finances, property and inventory needed. However, obtaining a degree in business management, finance, sales and marketing and any other related course is helpful so as to manage the restaurant properly. A good background in working at any restaurants is also helpful in providing good services. Other certifications and training may also help in handling the restaurant. Owner should also possess good traits in leadership, excellent skills in communication, self-confidence and analytical capability.
Occupation and Progress
According to the United States Bureau of Labor Statistics and Department of Labor, about 45% of restaurant managers are owners of private or independent restaurants or food service business. The United States average wage of restaurant owners is about $23,099. However, this amount differs from state to state and regions of a country.