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Owning a business...

I own a restaurant and it turns out that it is NOT AT ALL what I xpected. I signed a lease for 10 years and have 3 more years to go. I wish I never did this but at the same time I am glad because I am still young and also learned SO much as to how to plan for my future. In other words I'm glad that this happened to me now and not in my older age-I am in my mid 30's and hubby is early 40's. Each and every month I have to take money out of my personal account to cover bills in my rest. business account. I cannot shut it down because of my lease agreement. Please pray for me to keep me sane and not lose it with my family. I cry every night and need some words of encouragement and your prayers would be appreciated. Thank you.

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Anonymous

Asked by Anonymous at 10:57 AM on Jun. 14, 2012 in Money & Work

Answers (4)
  • I've heard the restaurant business is one of the hardest to be in, so I hope things go well for you, and you make it through the next 3 years without too many bumps and bruises.....
    MrsLeftlane

    Answer by MrsLeftlane at 11:01 AM on Jun. 14, 2012

    Credits: 45131 Level 30 1 star1 star Money & Work Minor
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  • What can you do to turn it around? New Menu? More advertising? New staff? Lower prices?
    There's always room to improve!
    PartyGalAnne

    Answer by PartyGalAnne at 11:34 AM on Jun. 14, 2012

    Credits: 55248 Level 32 1 star1 star Money & Work Minor
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  • ^^ Yes, what PartyGal said ^^

    Sorry times are tough, OP. Many of us are feeling the sting. Just keep your chin up and keep working towards your future. It will get better.
    theMOMmission

    Answer by theMOMmission at 12:08 PM on Jun. 14, 2012

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  • I am sorry to hear things are not going well. We had a rstaurant and lost it in 2009 when the economy failed. Things you can do to help.......1. revise your menu or add a "cheap eats" menu to your existing menu. Lots of places hand you two meuns when you go in. One example of this is Applebee's "2 for $20" items. 2. Cut costs wherever you can......people's hours, food inventories, operatiing hours, etc.. 3. Advertise as much as you can and offer coupons, special discounts for "early birds", etc. Best of luck.
    whitepeppers

    Answer by whitepeppers at 3:05 PM on Jun. 14, 2012

    Credits: 13130 Level 22 1 star1 star Money & Work Minor
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