Intimidation

RyanGromfinRyanGromfin Posts: 4subscriber
edited October 2007 in Business Planning
Recently while searching the web for ideas, hisotry, information etc. pertaining to my restaurant idea, I found a restaurant that was identical to what I want to do.  My business plan is 80% done, menu, concept, decor, etc. and this place is identical.  It is very discouraging and exciting.  First, I am excited to see that my concept works. This place is in N.Y.C. is doing great.  I am in Los Angeles, so I am not concerned about stealing customers from eachother.  However, it is the same name that I was planning on using, the same web address, decor and menu.  The only difference is that the team at the N.Y.C. resturant, are twice my age, have loads of exerience over me, and the kind of financing I could only get if I married Bill Gates` daughter.  I am completely discouraged and fearful that anything I do now will be considered a knock-off.  When I read the bio`s of his team, the only person they are missing is Jack Welch.  Anybody out their been in a similar situation.  RyanGromfin2007-10-3 17:54:4

Comments

  • stonesledgestonesledge Posts: 8subscriber
    Hi Ryan,
    When you started your business.....the idea to you was all yours right? Then keep thinking that way. Once you start focusing on what the "other guy" is doing it will take away from building what you have. Do what you are doing and feel confident that if they are already doing something similar and are successful, then you can be too! They won`t be identical and it won`t be a knockoff. They are two seperate business`s made by two different people with different prospectives! Kepp doing what you love and look ahead at where you will take your business!
    Erin
  • RichRich Las Vegas, NVPosts: 636administrator Site Admin
    my analysis? if you can please and retain customers, the competitors don`t really matter. worry only about your customers.
  • RyanGromfinRyanGromfin Posts: 4subscriber
    I appreciate all of you feedback, all my instincts tells me it is more positive than negative.  Afterall when people question the concept durring fundraising, I can say that it is succesful in the most demanding food city in the world, it can work in L.A.  I just need to make my extablishment more of the underdog, root for the little guy with a dream kind of thing.
    Thanks,
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member

    Recently while searching the web for ideas, hisotry, information etc. pertaining to my restaurant idea, I found a restaurant that was identical to what I want to do.  My business plan is 80% done, menu, concept, decor, etc. and this place is identical.  It is very discouraging and exciting.  First, I am excited to see that my concept works. This place is in N.Y.C. is doing great.  I am in Los Angeles, so I am not concerned about stealing customers from eachother.  However, it is the same name that I was planning on using, the same web address, decor and menu.  The only difference is that the team at the N.Y.C. resturant, are twice my age, have loads of exerience over me, and the kind of financing I could only get if I married Bill Gates` daughter.  I am completely discouraged and fearful that anything I do now will be considered a knock-off.  When I read the bio`s of his team, the only person they are missing is Jack Welch.  Anybody out their been in a similar situation. 

    Ryan,
    since you are in LA and they are in NYC - there is no competitive aspect - so focus on the positives. There is much you can glean from their efforts, starting with the fact that the concept is sound.
    You probably don`t want to use the same name and that`s a disappointment - but they have blazed a trail for you.
  • wordwarriorwordwarrior Posts: 1subscriber
    Ryan,
    I find your situation very interesting because you "found" the NY restaurant after you had your concept. How did you come up with your concept??. You need to emphasize how your restaurant will be different than your L.A. competition--who your competition here is what really matters.
    The secret is changing "how" you present your package, which relates to your mind set.
     
  • wordwarriorwordwarrior Posts: 1subscriber
    Poppa
    Don`t give up. Just learn from the other experiences;plan it out better before you jump in. Research is key and that`s available on the net.
     
  • micsimonianmicsimonian Posts: 1subscriber
    I owned a pizzeria called big mamas & papas which I sold 2 weeks ago, I can tell you this much make sure you plan out good, restaurant business is though business. Be very careful with contractors that you work with very important. And shop around for appliances make sure you do home work.
  • micsimonianmicsimonian Posts: 1subscriber

    I owned a pizzeria called big mamas & papas which I sold 2 weeks ago, I can tell you this much make sure you plan out good, restaurant business is though business. Be very careful with contractors that you work with very important. And shop around for appliances make sure you do home work.
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