Independent Operators

80% of industry professionals lack practical business knowledge

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November 4, 2021

Nearly 80% of restaurateurs acknowledge they lack practical business knowledge.

That's the top finding of a Better Business Survey survey of more than 2,000 restaurant staff, a majority of which are chefs and restaurant owners. The survey was conducted in collaboration with the Culinary Institute of America, the James Beard Foundation, Black Food Folks, S.Pellegrino Young Chef Academy and Fine Dining.

Attracting investment, managing finances, creating business plans and managing stress and burnout are highlighted as key areas for improvement for those surveyed, with 'burnout management' the number one priority across all experience levels. The need for burnout management skills increased with those who spend more time in the industry.

Among those working one to two years, 26% want to learn what a business model is and how to initiate one and 24% want to learn more about how to manage burnout, and 24% want lessons on how to attract investment.

For those working two to five years, the priorities were similar: 27% want to learn more about business models and how to start them, 27% want to learn more about customer loyalty and how to maintain it, while 22% want skills on managing burnout.

Additional findings include:

• 27% of chefs working five to 10 years want to learn more on policies to reduce stress and burnout.
• 26% want more knowledge on how to manage P&L.
• 25% would like a lesson from a psychologist on how to attract and build strong, happy and efficient teams.
• For those working 10-plus years, 29% said burnout management is something they want to learn more about.
• 26% want a session with a psychologist on how to attract and build strong, happy and efficient teams.
• 25% wanted lessons on how to delegate responsibility.
• Over 30% don't know where to look for higher training or further education, with almost 50% stating they don't have the time to learn how to address these gaps in knowledge as they are always working.

"Better Business is one of the first cross-collaborative projects of its kind undertaken in the restaurant industry with some of the industry's most prominent organizations coming together to understand what resources chefs need to improve their business skills and create stronger, more sustainable models of operation for the future," Ryan King, editor-in-chief, Fine Dining Lovers, said in a press release.

"These results provide invaluable data that will now lead to the creation of tailored video resources to help plug the knowledge gaps those working in kitchens are telling us they have and better equip them for the challenges of the future."