GREAT 18 IDEA: Seek Help from a Restaurant Consultant
Isidore “Izzy” Kharasch is a skilled chef, but most of his clients don't even know he can cook. “I'm more comfortable managing the business end of a restaurant,” said Kharasch, president of Hospitality Works, a Chicago restaurant consulting and turnaround company. Kharasch also teaches at Kendall College and has an MBA in hospitality management.
When I caught up with him, he was working with a tribal-owned casino in California. The Great Recession hit the restaurant industry hard, so he's been very busy.
No matter what the economy is doing, about 27 percent of all restaurants fail after the first year, and 60 percent close down after five years, according to researchers at Cornell and Michigan ...
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