March 30-31, 2025

Boston Convention & Exhibition Center

Boston, MA

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Successfully Managing the Life Cycle of a Restaurant; Open, Operate, Exit

Successfully Managing the Life Cycle of a Restaurant; Open, Operate, Exit

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Successfully Managing the Life Cycle of a Restaurant; Open, Operate, Exit

Sunday, February 04, 2024
Ed-Quarters

Join Kelly Caralis, Alex Weiss, and Paul Turano, as they detail how opening, operating, and exiting a restaurant involves various factors that contribute to success in each phase of the restaurant’s lifecycle.

Here are some key success factors for each stage:

Opening a Restaurant: Solid Concept and Unique Selling Proposition (USP), Market Research and Location, Financial Planning and Capitalization, Regulatory Compliance and Permits, Talent Acquisition.
Operating a Restaurant: Consistent Quality and Service, Effective Marketing and Customer Engagement, Efficient Operations and Cost Control, Adaptability and Innovation, Customer Feedback and Continuous Improvement.
Exiting or Selling a Restaurant: Profitability and Value Enhancement, Documentation and Transparency, Timing and Market Conditions, Legal and Financial Preparedness, Transition and Handover.

Success in each phase involves a combination of strategic planning, dedication, adaptability, and a deep understanding of the restaurant business. Each factor is critical and contributes to the overall success and sustainability of the restaurant.

Moderator
Alex Weiss, CFP President/Wealth Manager - Napier Wealth Management
Speaker(s)
Paul Turano, President/Owner - New England Restaurant Consulting
Kelly Caralis, Co-Chair - Hospitality Practice Ruberto, Israel & Weiner, P.C.