According to the National Restaurant Association, there are 980,000 restaurants in the United States. While some may feel that means there is too much competition, others may find it surprising to learn that those who own multiple businesses are more likely to be successful. A Harvard Business School paper explains that serial entrepreneurs have a higher-percentage chance of succeeding than first-time entrepreneurs or those who had a previously failed business. This comes as good news for a trio of serial entrepreneurs based in Washington, D.C., who just opened their third restaurant in the heart of Georgetown.
“We believe we have found the formula for what works in bringing a successful restaurant to the Washington, D.C. area,” explains Ben Kirane, one of the trio who recently opened their third restaurant. “We have had great success with our first two. Now we are opening the doors to our third restaurant, and feel confident it will also be a success.”
The trio, made up of Kirane, as well as Moe and Joe Idrissi, have now opened their third restaurant, called Rialto. It’s an Italian restaurant that features an Old World menu, with contemporary touches here and there. It is the third of their restaurants; they also own Thunder Burger & Bar, and Bodega Spanish Tapas & Lounge, both located in the heart of Georgetown.
When it comes to what makes this group successful in business, they all agree on several points, including:
- It starts with the foundation of having a strong bond, and knowing that everyone involved has the same goal. When everyone has the same goal, it comes down to determining the best paths of action to make it happen.
- It is important to know the business well, determine what role everyone will take. This will help keep people from stepping on each other’s toes or wondering who will be responsible for day-to-day operations.
- Keep tabs on what the competition is doing, so that you can discuss any changes that may need to take place in order to keep up or surpass them.
- Always create a work/life balance that won’t burn you out. It is important to not sacrifice family by always putting the business ahead of it. When you have a happy home life you are more likely going to have a happy work life as well. Creating a balance, and taking vacations, is important to business success.
- Separate work from family issues. Although it may be challenging at times, strive to separate business relationships from personal ones.
“Who knows what is to come in our plans later, but for now we are focused on making our three restaurants a local success,” adds Kirane. “The three of us love what we do, give it our all, and go after the success that we envision. It’s made all the difference.”
Rialto is their third restaurant and is located in the heart of Georgetown at 2915 M Street NW, in an historic building that provides world-class Italian food and an upscale atmosphere. The restaurant features partially open kitchens, fresh pasta, imported specialty ingredients, fresh seafood, and a cheese counter. The menu offers a variety of meat, seafood, and vegetarian options, served in both family style and piattini style (small plates) to encourage sharing.
The other two restaurants owned by the trio, at which Chef Ryan is also the operational chef, are Thunder Burger & Bar, and Bodega Spanish Tapas & Lounge, both located in the heart of Georgetown. To learn more, visit the site at: www.RialtoDC.com.