Become a Restaurant Owner

A restaurant owner is responsible for the daily operations required for running a restaurant. This includes overseeing front of the house employees, such as servers, bartenders, expediters, and bussers, as well as the back of the house employees in the kitchen. A restaurant owner who is hands-on in the daily running of a restaurant may have the title of operating partner or owner-manager. The restaurant business is fast-paced, and the owner of an establishment must be able to work well under pressure while bringing forth excellent customer service skills.

Salary

The salary of a restaurant owner varies greatly depending on experience and the popularity of a restaurant. Some owners who act as owner-managers may collect a base salary, and then collect any profit that their restaurants earn. Payscale.com collected restaurant owner salary data from 177 individuals in 2012 and found that salaries range from $31,000 per year to $211,000. As with many professions the more experience one has, the more likely they are to have a higher salary. In Payscale.com’s report the restaurant owners earning the highest salaries had at least ten years of experience. A restaurant’s popularity also greatly influences the owner’s salary. An in-demand restaurant that is always busy usually turns a higher profit, which can make a difference in how much the owner takes home at the end of the year.

Responsibilities

Owning a restaurant involves managing a staff, overseeing food costs, ensuring that all health standards are followed, and making sure that customers receive the best service so they will return to the establishment. The owner is also responsible for ensuring the accuracy of the restaurant’s accounting and payroll. Many restaurants are open seven days a week, for long hours each day, so an owner usually hires managers to work different shifts. The managers answer to the owner, and the owner will usually elect to train the managers in the policies and procedures that he expects to be carried out in his restaurant. In a small restaurant the owner may take care of the accounting and payroll himself; in a larger, busier restaurant the owner may hire an accountant to take care of these responsibilities. The owner is responsible for making sure that the food vendors the restaurants use are paid on time, as well as any quarterly or yearly taxes that are due. A marketing and advertising campaign may be designed by the owner to bring in new customers.

Requirements

A restaurant owner must secure the necessary permits and licenses before opening for business. Many restaurant owners who are successful spend years working in the restaurant industry, in a variety of positions, before they attempt to open their own restaurant. Some owners attend a culinary school, and act as the executive chef of their restaurant. These owners are usually very knowledgeable about different cuisines and may design the menu for their business. Having some training in business management is very helpful, but not required. A number of business courses that can assist an owner in operating a business can be taken online.

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