Trust your gut instincts, says Hong Kong's Queen Creole
For businesswoman Lori Granito, Hong Kong has presented some very sobering lessons when it comes to gaining a foothold in a competitive city.
Arriving 14 years ago from New Orleans, Ms Granito was persuaded by a friend to open the city's first Cajun-Creole restaurant, Bayou l, in 1996. The business lasted five years, a relatively long time in a city of fast-paced change. In 2001 she started her second business, Big Fat Mama's in Wan Chai, also featuring Cajun-Creole-style cuisine. Luck was not on her side this time. Shortly after the launch, terrorists attacked New York and Washington, leading to a global slowdown and sealing the fate of a food concept geared towards tourists and expats.
Ms Granito's latest venture is Go-Gourmet, a catering company that serves up dishes in its own private dining room.
'It was a major decision to embark upon this new venture,' Ms Granito says, 'I now have a young daughter, so really only wanted to be involved in a new business that allowed for flexible hours.'
Chance also played a large part in the establishment of Go-Gourmet with a spacious premises in Sheung Wan, which was coincidentally a former cooking school, becoming available.
'I was very fortunate to find our current premises, however, start-up costs still amounted to $500,000, spent primarily on rental, equipment and furniture,' she says. 'I also decided that I would source additional investors when establishing this new business, and was fortunate enough to find people with fond memories of Bayou, so it was full steam ahead.' She expects to employ six fulltime staff and several part-timers.
Reflecting on her previous ventures, Ms Granito advises aspiring restaurateurs to follow the real estate maxim of location, location. Finding business partners who share the same vision and have the deep pockets to see through the rough times is also essential.
'Trust your gut instinct,' she says. 'If you establish a business around something you are passionate about, then your instinct will tell you whether you are approaching things correctly or not, so take note of what your feelings and instinct are telling you.'
