The American Dream: A follow up to my experience

5/15/2009 08:14:00 AM ·

I have received many personal messages about my experiences with my restaurants and I wanted to make it a bit more clear to everyone as to why my Culinary education did not prepare me at all for owning a restaurant.

I understand that when you choose to become a Doctor, Lawyer, or any profession that requires higher education, well that's a bit different. It is necessary to have an educational background to be successful in these fields.

However, in my case, when I attended Culinary school, there were no classes about setting up your business as an S-Corp, C-Corp, Liability, etc. There were no classes on Sales-tax numbers, EIN #'s, you get the gist.

Had I known that I would have had to secure my whole entire restaurant in a specific way so that I was not personally liable if anything ever happened, well I would have done it. I want to be honest though, I was 24 when I owned my first restaurant. I knew nothing about these types of things. Furthermore, I didn't have a lawyer or the money to pay for one, so that responsibility fell on me and my partner.

When the economy caved in and everyone of my customers were losing their jobs, I started caving. When people have to choose eating in as opposed to eating out, that's the end of the small restaurant. What's worse is that I refinanced my home to obtain the funds to open up the restaurant in the first place.

Needless to say, even in the end, I still managed to pay all my employees before myself, resulting in the foreclosure of my home, and the loss of everything that I had. Try dealing with all of that before you're 30 and tell me if you think the Government, Economy, or our Society has failed you.

Now, on a side note, I have gone back to school to become a Doctor. I have no intentions of going back to restaurants anytime soon.

I hope that answers some questions any of my readers may have had. I am not sorry that I was able to be such a young business owner that operated for years successfully. I'm not saying that I am ungrateful. However, when it comes to my situation, Culinary School did not prepare me to be creative or to have drive. I had that before I ever started.

I'm not tearing down education because I am back in school trying to start over. What I am saying is that it's not always necessary.

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Simrandeep Singh