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" I wanted to be the next Hot chain, I'd even chosen my locations locally and internationally, set price for my franchise to find my self drowning in debt with no profit" ...
- My father has a small restaurant around the corner which he personally operated for about 25 years. I didn't have the chance to spend much time with my dad while I was young since he was always working, the small restaurant is working just well to get us good education and pay for our bills.
Then I decided to be the next Gary Vee and expand my family business. We opened another larger restaurant which I operated with no experience in that business, but I depended on my father's experience.
Unfortunately, his way of managment couldn't allow him to expand, he did everything by himself so I had to choose managers and staff. I've hired and fired a lot of managers, chefs and service staff who can talk very well and do so little and thus my products and service quality was always flactuating. I lost many of the customers I've got and profits were always so little to cover my large expenses and over heads. but I said to myself "That's natural .. it's a part of the process .. improve more and be patient".
4 years is a long period of time and short as well but anyway I admit that I've failed. Now I'm stuck in the mud with large debt at 29 years old but I'll have to figure out my next step.
I didn't lose everything though, I've came out with huge experience and lessons which I will apply in my next venture.
- My father has a small restaurant around the corner which he personally operated for about 25 years. I didn't have the chance to spend much time with my dad while I was young since he was always working, the small restaurant is working just well to get us good education and pay for our bills.
Then I decided to be the next Gary Vee and expand my family business. We opened another larger restaurant which I operated with no experience in that business, but I depended on my father's experience.
Unfortunately, his way of managment couldn't allow him to expand, he did everything by himself so I had to choose managers and staff. I've hired and fired a lot of managers, chefs and service staff who can talk very well and do so little and thus my products and service quality was always flactuating. I lost many of the customers I've got and profits were always so little to cover my large expenses and over heads. but I said to myself "That's natural .. it's a part of the process .. improve more and be patient".
4 years is a long period of time and short as well but anyway I admit that I've failed. Now I'm stuck in the mud with large debt at 29 years old but I'll have to figure out my next step.
I didn't lose everything though, I've came out with huge experience and lessons which I will apply in my next venture.
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