restaurant deal is almost done

Yesterday’s meeting with the valedictorian owner of the hotel went well. He’s a pretty decent chap, not too presumptious like I initially thought he would be. He was very casual, in manner and dressing; jeans and stuff, and has a background in Computer Science and some finance, so we kind of connected.

We ironed out most of the issues from both sides amicably, although a couple of things came up that I need to re-evaluate and see if they work for me, seeing as they would impact my bottom line, which, for the first few months is going to be nothing short of miserable.

The hotel is currently 3 Star, but he believes a very decent restaurant will raise him to 4 star with time. A 5 star is out of the question because they don’t have facilities like a pool and gym. So you can imagine the weight on these lanky shoulders.

I’ve decided to do this as a joint venture with some people. It’s a bit risky, especially if their commitment is not as solid as mine. The joint venture is for a couple of reasons:

1. One party is pretty good at the whole cooking business, and had started up her own catering outfit which is still just taking off, so she brings experience, staff and method to the madness. It eliminates initial core-staffing concerns.
2. The other party has the money to fund the venture, and is willing to invest in something worthwhile. Of course the partnership agreement will have to ensure their interests (ROI) are well taken of.

As for me, what I bring to the table is just me, really. I got the deal, I have experience in business, a bit of experience in day to day management of restaurants, and a passion for success. You’d be surprised at how many people start businesses without the core ingredient; passion.

To side-track a bit, I always tell people who come to me wanting to learn stuff (visual effects, web, etc) that all they need is passion. Too many people out there are doing computer science, IT, etc, without the faintest interest in what they’re doing. All they know and use as an excuse is “there’s money in those things”.

That attitude just pisses me off.

Knowledge without passion is the first step on the path to mediocrity. Look around you hard enough and you’ll see our country is saturated in mediocrity, in almost every arena of professionalism. Almost everyone is in it just for the money. They are not in it for the sake of doing a good job, or providing an outstanding service, and then getting paid for a job well done!

On the other hand, passion, coupled with knowledge, is the beginning of excellence.

Back to the restaurant.

I’m meeting the other two parties tomorrow, to discuss options, financing and operations, then I should be able to give the owner of the hotel a solid go-ahead, and get started.

This of course means choosing a name for the restaurant, setting up a company, lawyers, bank accounts, licenses and all that. Then setting up the restaurant itself.

If any of you is interested in the finer workings of getting a company in Uganda from idea to opening up the doors of your new offices/venue, let me know. Don’t worry, I’ll only talk from experience.

Which is always the best position to talk from, no?

—

Offtopic:

What these strong masters wrote at large in miles,
I followed in small copy in my acre;
For there’s no rood has not a star above it ;
The cordial quality of pear or plum
Ascends as gladly in a single tree
As in broad orchards resonant with bees;
And every atom poises for itself,
And for the whole.

from “Musketaquid” by Ralph Waldo Emmerson

Related items

• 5 ways to improve your business experience
• 10 reality checks about owning a business
• you. yes you. you’re a wuss.
• 10 reasons to start your own business
• an ode to boring (and the bored)

Share