[Dottore]

I have been a financial partner in three restaurants. I lost a moderate amount of money the first time, a significant amount of money the second time, and made a little bit the third time.

Each time I went into these deals it was "because I had total faith in the guys etc etc"., and because I thought it would be fun.

You can look at all the business plans and projections on earth—but these will guarantee nothing. Concept, quality, location, buzz...all that is critical for success, but ultimately the restaurant business is a people business and people are unpredictable. By people I mean not only your staff—but your guests. People change. People mess up. Peoples tastes change. People leave and compete with you. There's no end to what people will do to mess up your fine 4-year projections.

That said, I had an enormous amount of fun with each one, and even knowing what I know now would probably make the same investments again. The buzz of being involved in "the" new place in town is infectuous. In fact this buzz is what keeps people going in the industry, and losing money time and time again.

If you make money in this venture you'll be one of a very small minority of restaurant investors that does. But you could well break even — or something close to it. There's a small chance. It's a very tough and unpredictable business. I would never do it for a living. But if you can afford to lose your investment, it can be a very fun way to lose some money.