Looking to Step Into My Shoes: Restaurant Proprietor Role Up For Grabs

Interview with a Foodie Entrepreneur: Owning a Gastropub in the Heartland

Welcome back to our So You Want My Job series, where we delve into the reality of desirable careers and offer advice on how you can chase your dreams.

In this episode, we speak with Dan Deagan, a dynamic restaurant owner from Ohio, who offers us an unvarnished look at his life in the restaurant industry.

Housekeeping

Dan is the mastermind behind Deagan's Kitchen & Bar, a lively gastropub situated in Lakewood, Ohio. At 38, he's been a part of the bar and restaurant sector for more than two decades, holding almost every position imaginable – from line cook to bartender, server, manager, and now owner.

The Restaurant Dream

So, how did a boy from Poland, Ohio aspire to become a restaurant owner? Well, Dan didn't initially plan to stick around in the business. He saw it as a means to an end--a fun way to finance his studies and pay bills. As he excelled in his roles, though, the idea of running his own establishment bounced around in his head. He sought a place where he and his wife could unwind in a laid-back atmosphere, offering delectable dishes and a fine selection of craft beers. In September 2010, they opened the doors to their successful venture, Deagan's Kitchen & Bar.

Entrepreneurial Preparation

Wanting to become a restaurateur? Here's Dan's advice on acquiring the necessary skills, experiences, and knowledge:

Gain extensive hands-on experience by working in various positions within the industry. Doing so will give you a unique perspective on the challenges your employees face and foster empathy.
Experiential learning will help you stand out in the industry, as it often supersedes formal education when it comes to restaurant ownership.
Be open to assisting in different roles, from running food, seating customers, and busing tables to washing dishes. Showing flexibility and adaptability will make a difference to your staff and clientele.

Success Factors for a Restaurant

The restaurant industry is a tough gig, with about 60% of restaurants closing within five years of opening. So what sets successful eateries apart from the rest?

According to Dan, good ownership is vital. Many restaurants fail due to absentee owners or individuals who lack experience and mistakenly believe that being a restaurateur is glamorous. In reality, running a restaurant involves long hours, considerable stress, and far less income than one might expect. However, if you're passionate about food and enjoy interacting with people from all walks of life, it could be the perfect job for you.

Advantages and Disadvantages of Independent Restaurants

Comparatively, chain restaurants have only slightly higher success rates than independent eateries. Nevertheless, Dan sees the latter as preferred, given the advantages they offer:

Independents provide the freedom to choose your own suppliers, menu items, and marketing strategies.
They allow you to create a unique dining experience tailored to your local consumers.
Chain restaurants may boast better deals due to their buying power, but independents can maintain their identity and profit from niche offerings.

Opening a Restaurant: Breaking it Down

Hatching the Idea: Establish your restaurant's concept based on the unique dining experiences you desire, considering the culinary trends and local consumer preferences.
Securing a Location: Finding the ideal spot will involve patience, but once you do, you'll need to negotiate lease terms.
Financing: Unfortunately, banks are hesitant to loan money to nascent restaurants. Leverage your experience, demonstrating a clear understanding of the industry's ins and outs, to secure financing.
Buildout: Architects, engineers, contractors, and even you (if you're up for it!) will collaborate to design and construct your restaurant. The entire process takes about 5 months.
Staffing: Hire a skilled chef, and gradually build your team as your restaurant nears its opening date.

The Perks and Risks

Joys of the Job: Dan takes immense pleasure in being around people, savoring great beer, and indulging in delectable food every day.
Challenges of the Job: The demanding hours, especially at the outset, can be physically and mentally exhausting.

Work-Life Balance

dan's ability to strike a balance between work, family, and personal life is crucial to his success. Being married to a supportive and understanding partner allows him to focus on work hours without sacrificing time with his family.

Misconceptions Regarding the Job

Myth: Restaurant ownership equates to financial success. In reality, profit margins are less than 10%, as overhead expenses are substantial.

Final Thoughts

If you're considering a career as a restaurant owner, make sure you've gained practical experience in the food service industry. Developing a deep understanding of food, business, and operational aspects will position you for success. Define your unique niche, develop a solid business plan, and be prepared to roll up your sleeves to build a thriving, independent eatery.