John W. Kosolcharoen Restaurant Management

John W. Kosolcharoen Restaurant Management

Running a restaurant in New York can be rough. Rents are high and pay wages to have to go out. Independently owned restaurants have dropped slightly more in New York than anywhere else in the country while privately owned far off better. It’s survival of the fittest in the NYC restaurant scene. Ask John W. Kosolcharoen sometime.

New York especially New York City is very expensive to live and to visit. Running a restaurant business is no different. You have to take into consideration the real estate, taxes, buying fresh food and the paid labor of employees. When you calculate all of these expenses your profit may or may not be good, depending on the quantity of business you get, ask John W. Kosolcharoen.

Space in Manhattan can cost double that of Los Angeles or San Francisco. In 2016, the average price for space in Manhattan and a few Brooklyn areas were $120 per square foot. Did you know that this was a 6 percent increase from 2008? Even other expensive city spaces such in Los Angeles averaging at $52 per square foot and San Francisco averaging at $45 per square foot can’t compare to the Big Apple.

The Big Apple

New York restaurateurs have to go through the struggles of getting a permit process and a two-tiered liquor license that can take months. New York City is the number one city with the most independent restaurant chains in the country which some have failed.
The Big Apple brings tourists from all over the world all times of the year which is a plus but you also has to take the competition with another restaurateur into consideration. Knowing what foods tourists and locals want that you may or may not have can be a pain. You have to do the research. The restaurateur down the street may have organic and you don’t. They may have TVs and you don’t. They may have late hours and you’re not that late.

But, to some business owners, the world is much bigger than New York. Even though people love the Big Apple, they may have to seek alternatives. There are other places besides New York to thrive. So, if the heat gets to be too much, some New York restaurateurs may leave to go elsewhere.

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