So You Want To Open a Restaurant…Let Me Talk You Out of It
July 23, 2009: 6:15 PM - 9:00 PM
What is it about the restaurant business that is so alluring to people? Why have so many seemingly sane individuals persuaded themselves that opening a restaurant would be a rewarding -- and rational -- thing to do? Is there a way to reduce the risk of restaurant failure? Are there any indicators you are making a bad decision? What factors contribute most to a restaurant’s success? Come hear Phil Mott, restaurateur, restaurant consultant, and hospitality management professor talk about the myths surrounding the restaurant business and the risks involved.
450 N. Cityfront Plaza Drive
Driving Directions:Chicago Booth has arranged with AMC Theater-River East Self-Parking Garage for discounted parking at:
300 East Illinois Street (AMC Theater-River East Self Park Garage)
$6.00 after 3:00pm
Garage: Self Park Facility
Payment: Automated: at pay-stations by cash or credit card or upon exiting (credit card only.
To receive discounted rate: Go to card validator at the first floor security desk of Gleacher Center. The new system for AMC Theater-River East Self Park Garage is automated: Insert parking card in validator and new price is automatically applied. You can also validate arking ticket any time between your arrival at and departure from the Gleacher Center. Upon leaving lot, a $6.00 fee is charged.
Garage is next to PJ Clarks and below the AMC Theater.
a) If traveling east on Illinois: cross Columbus and enter Garage on left north) side of street. b) If driving west on Grand,enter the garage ½ block before Columbus on left(south) side of street.
Register By Phone: 312.335.1536
6:15 PM-6:30 PM: Registration
6:30 PM-8:00 PM: Program
8:00 PM-9:00 PM: Networking and Cash Bar
Phil Mott (Speaker)
Assistant Professor and Independent Restaurant Consultant, Les Roches School of Hospitality Management
Phil Mott is an Assistant Professor at Kendall College, Les Roches School of Hospitality Management,and an independent restaurant consultant. He has worked in nearly every sector of the restaurant industry during the last thirty years. His experience ranges from casual dining chain Bennigan’s, the National Restaurant Association, Levy Restaurants, a fine wine distributor and importer, an investment bank and many years of working with his brother (a fellow Booth grad) growing a private foodservice, catering and restaurant company. His restaurant career peaked when he became the proprietor of the iconic French restaurant, Le Francais. His time at Le Francais was noted for achieving top rankings from the Mobil Dining Guide, AAA Dining Guide and the Chicago Tribune. His broad range of industry knowledge is clearly evident in his teaching resume: he has taught seventeen separate courses in the culinary and hospitality management departments at Kendall. When not teaching hospitality students, Phil consults on restaurant start-ups, feasibility studies and concept development. His comments are frequently seen in the local press and trade magazines. Phil holds an MBA in finance from the University of Chicago Booth and a BA in history from the University of Buffalo.
312.335.1536 or 773.218.8270
Other InformationThe primary objective of the Consulting Roundtable is to connect consultants with the industry’s best practices, most innovative approaches, latest market trends, and its most dynamic leaders. Meetings are scheduled for the fourth Thursday of each month.
On Thursday, July 23, 2009, Phil Mott, assistant professor at the Kendall College Les Roches School of Hospitality and Management and a Chicago Booth MBA ('90) will offer an insightful and frank discussion of the restaurant business -- the myths surrounding it and the risks involved. He'll teach you about the process for determining whether a restaurant concept is viable (and sane), and will address such perplexing questions as:
•How does an idea for a restaurant become a reality and, despite the long odds, a success?
•Why do certain restaurants thrive when similar restaurants fail?
•What is the process for evaluating a potential concept?
•What factors cause new concepts to fail and how can they be avoided?