Personally, I prefer a restaurant. Why? Less items to stock, basically, more movement of stuff, and thus, more flexible to changing demands, and more ways to be creative. But you ll need to write a business plan for both to see which is more in tune with your interests, talents, and the bank s desires for a loan.
if you go with a restaurant,plan on working around the clock just about.You have to deal with alot more employees.There are so many occupational hazards it s mind boggling!I have been in the restaurant business for more than 20 years,and I would never own one knowing what I know.Unless your food is outstanding, the chances of making it are minimal.Go for the convenience store.
Focus on what you love to do and what you know best. If your parents really like cooking and love to serve people, a restaurant might be the best option. However, many a great cook has opened their own restaurant and had it fail. It is one of the most frequent businesses to fail.The key is to do market research and check out the competition before selecting a location.
You have to do research.1) location is key (easy access, parking, lighting ans signs)2) who is your target market?3) how much competition?4) how will you be different and better than the competition?In the U.S. Restaurants are doing bad because an economy that is down means less people eating out.
Restaurants are one of the riskiest businesses you can go into. Take a long hard look at doing that. You need someone with experience to help, if you go that route.
I would go with convenience store. The restaurant business is a very difficult one and usually fail within the first year.
restuarant makes more money but is more risky :)
