One of the biggest advantages to owning a restaurant is being your own boss. In good times, this is a benefit, because you reap the profits of a well-established business. Restaurant owners also have a permanent establishment in addition to their home; while it may be an idealistic perspective on restaurant ownership, many owners do form close relationships with their customers and employees and thus almost make a home away from home.
Many restaurant owners are chefs or cooks first, and thus owning a restaurant is a prime opportunity for them to show off their talents. A chef may open a restaurant because they feel they have an idea or talent that fits an unfilled niche in the community, or because they believe they can do a classic idea better. Additionally, there is the opportunity to be creative with the aesthetics of the dining area of the restaurant, such as decorating the walls or bar.
One of the biggest hurdles to clear in restaurant ownership is the initial start-up costs. Before the doors even open, a restaurant owner must put money down for the space, furniture, food and employees. It can also be very difficult to start a new restaurant in an established area; a restaurant owner must think of ways to aggressively advertise and market their restaurant in order to attract customers. Restaurants generally have very low profit margins, thus a constant flow of customers is key to survival.
There are several other complexities involved in owning a restaurant. Different states have different regulations when it comes to necessary licenses, including a liquor license and certifying that the kitchen is not a fire hazard. There is always the risk of a bad review or a law suit from a customer who gets sick, as well as having to manage potential tension from the wait staff and kitchen with regards to pay.