Quitting???

slow Joe,
Quit my job in November of 2005 and havent looked back. Wake up everyday happy. It was a tough first year, more hard work and need to keep marketing yourself.It can be done and the second year looks better. Do your research and it can be done.
Woody

Not a pro or in the "business" but I would check out everything you'd be giving up at the day job, benefits, insurance, pension, etc. More than that, if you are married, check with the Mrs. Always want to keep her happy!

Try to look ahead and have 1, 3 and 5-year goals.

Being your own has pros and cons. Think it thru before making your decision.

We went full time in '03. The first few years were great in the summer and not so good in the winter. Went from catering/vending/teaching but no daily gig to opening a restaurant last week. We did not have a grand opening just turned on the open sign. Good thing as we are slammed. Not sure what what the future holds but I'm a lot happier and healthier than when I worked for Bill Gates. We only were able to afford health and life insurance again this year. Before you do anything read "The E-Myth."

A business plan is a tool that needs to be flexible and agile. You should not be a slave to the plan. I've seen a lot of expensive mistakes made with loans. I see folks who do not know how to Q who want to open a BBQ in a matter of months. I was a serious amateur cook for 30 years. I started serious BBQ in 2000. Had a lot of succes in contests from 2002 to 2004. Started small in 2003 and only found the ideal location two months ago. Haste makes waste is very true IMNHO. There is a lot of failure with Restaurants/Caterers and lack of experience stacks the deck against you.


Good Luck,

Konrad

My partner and I are both looking at this option wit our catering cmpany, however, we know that at the soonest we could go full time would be in the 3-5 year mark. We feel that a slow, steady growth will be better than just to jump in. We want to make decent profits catering while learning the business side of this adventure. That way when we open, we hope to have a small learning curve. And this is a great place to learn alot.

Amen to take it slow and think it out. We started with competition, added farmers market, buck a bone, then a semi permanent trailer on the side of the highway and now into a SMALL restaurant with more professional catering. I am convenced the learning period has been tremendously important however, a well thought out business plan (in writing) is every bit as important. Keep stokin and smokin.