By Stephen Zagor — Dean of Restaurant & Culinary Management Program
“Is New York Too Expensive for Restaurateurs?” read the recent New York Times headline. What’s going on here? Are we about to experience a restaurant Armageddon? To read recent well-written and thoughtful stories in The New York Times and New York Post about the extremely challenging New York business environment for new and existing restaurants, one would think we are on the threshold of a cataclysmic event. Will our lives be mostly composed of delivered meal kits and food courts?
Well, skyrocketing rents are very problematic; the new labor laws and wage and hour policies are challenging; food and ingredient costs are never a bargain; and burdensome laws and regulations targeting food businesses appear in an endless stream. Each of these is a serious issue on its own. Now add doing business in New York City with its unique issues and sprinkle in intense competition from the most restaurants per capita anywhere in the United States. The result makes you wonder why anyone would be in this business. Let’s open a dry cleaning business – it must be easier.
Keep reading to get the full article on restaurant ownership in NYC.