I am a restaurant owner and will give you my 2 cents. Just because you could survive on being open on weekends only, doesn't mean anything! No one in their right mind would take on that kind of responsibility and liability just to survive. Secondly, if you have no restaurant experience, you are in for a real surprise. The accounting alone is a daunting task. Inventory, managing days on hand, software systems, employees, prime costs, ordering, the list goes on and on. My advice is to partner with someone who owns a restaurant and is looking for another opportunity. You will give up ownership for it but worth every penny! Also be realistic about how much $ you are going to make on 1 restaurant. In general with 1 restaurant, you basically bought yourself a moderately paying job if you succeed. Need a handful of locations to make some real money. Sorry if this sounds doom and gloom but its reality. I know 5 guys who own restaurants and this has rung true with all of them. They told me the same things which I DID NOT believe until I did it myself. Bottom line is you have to love it and you need to have realistic expectations.
Ryan Chester - The Rub Company & Smoqued California BBQ