Great restaurants fail not because of bad food but because owners can't replicate their skill and lack capital to expand. The solution: build standard operating procedures so anyone can make the product, then raise a dedicated fund to hire a CEO and management team to open new locations without selling the original business.
Chapters
This is an incredible concept that can make you millions of dollars. The 2 biggest problems restaurant owners have is number one, redundancy, and number 2, capital. Redundancy meaning the people they hire can't make the bread or the pizza or the cookies as good as the owner or the founder can, and number 2, they don't have the capital or don't believe they can find the capital to go open up more locations. There's a great book called The E-Myth that walks through how to build redundancy and standard operating procedures in your business, and number 2, on the capital side, we've helped a lot of people do this with a fund. They'll go raise a fund or a pool of money without giving up any ownership of their current business. This pool of money is only used on new stores. They hire a CEO and a management team to scale these new stores, take the redundancy that's built and the new capital, and go launch and open new stores in great locations. Tag your favorite restaurant below that should do this.