3 ms·
In this case, why bothering operating a restaurant at all (it's a terribly terribly complex business to manage)? Just buy real estate and sit on it? I always w
by anovikov 6y ago
In this case, why bothering operating a restaurant at all (it's a terribly terribly complex business to manage)? Just buy real estate and sit on it?
I always wondered how restaurants even work - how can owners be motivated to keep themselves in this endless, poorly paid grind. In my opinion, when this is not about large chains that are effectively self-reproducing machines that don't depend on any people's motivation, it's mostly either hobbies (someone runs it to keep himself busy and feel beneficial to the society during retirement, for example), or just failures (someone foolishly believes there's a massive amount amount of money to make, gets burned, and vacates the space to leave it to the next one). Yours truly have been that sort of person in my younger years (when it was a lot easier, as industry professionals say!).
And yes, i can easily understand how can one become a dick being a restaurant owner. You deal with people who are paid poverty wages (there is no choice here), who can't be motivated with anything but threat of losing their jobs, have no work ethic (or they'd be doing something better), and in general can't be trusted in anything at all. You become paranoid and you quickly learn to disrespect people. I can feel that guy, don't judge him so heavily.
This is a hellish business to do and anyone who envies them is a fool.
- VLM 6y agoIn some social groups you'll get massive social status signaling about being an "entrepreneur". Admittedly it mostly comes from people who profit off the pipeline, mortgage refi officers, commercial landlords, accountants, bankruptcy attorneys, etc. As a cash business I often wonder how much laundering goes on. Not just hard core drug money, but any time cash is handled I suspect there's some rounding down going on.
- nikanj 6y agoThat’s an excellent question, and touches many other avenues of life too. Why bother with producing anything, when asset appreciation provides bigger gains with no effort needed
- jsdwarf 6y agoBecause your activity contributes to the appreciation. A good restaurant attracts a lot of people, which in turn attracts other businesses (think of bookstores next to popular cafés). This increases the worth of the property.
- anovikov 6y agoThat's true, while that's not what i meant to say. I just pointed out that business doesn't work on appreciation alone, and restaurants nearly always rent their places anyway, and that it is extremely extremely difficult to make ends meet operating a restaurant while avoiding getting to madhouse.