As much as the idea of celebrity-owned restaurants might be fun, I think they’re pretty stupid. Listen. I know we all want to be the only friend who’s cool enough to have room for friends and family to hang out, drink and eat good food, but for God’s sake, why do all celebrity projects have to be restaurants? He could only give yes money.
Why celebrities opening a restaurant should be avoided
I’m starting to be known as a successful business owner, and not just, say, a great actor, but opening a restaurant is not the right way. First of all, the failure rate of a restaurant is high enough that you have a pretty good chance of failing in the first year. A piece Toast (a restaurant-selling service company) suggests that restaurant failure rates are around 30% during their first year of operation.
It’s hard enough if your restaurant fails, but imagine you’re someone famous whose new business venture has taken a big shit. Humiliation would be pretty bad, since your reputation as a celebrity is already in the public eye. It can’t be fun, no matter who you are.
Many celebrity restaurants have failed
Mashed has a list failed celebrity restaurants, and wow, there are some doozies there. How I didn’t know that Steven Spielberg has a nautical-themed restaurant called Dive! which specializes in submarine sandwiches (I can’t even think of this)? It was originally launched in Los Angeles in 1994, and closed its doors in 1999 (The only Las Vegas branch was closed in early 2000.s.)
Eve Longoria had a few spots that failed, Justin Timberlake didn’t do so well, and even J-Lo had one that also cracked (although it lasted a slow six years). I remember when Pete Wentz from Fall Out Boy had a bar here in Chicago called Angels and Kings, which I always thought was kind of hilarious. (His location in New York is closed due to underage drinking, published by NBC4 back in 2009)
I’m reluctant to admit that on certain occasions, jumping celebrities on rare occasions to save a job is pretty okay, like when Trey Parker and Matt Stone bought Casa Bonita. And if you want cooperation with the restaurant, and that’s great. (Famous chefs get an exception mainly because it’s business-related.)
So if you’re a celebrity, can I suggest you sell weird stupid shit like Gwyneth Paltrow instead of that? NBA star Jimmy Butler’s coffee gig still going strong. Just, whatever you do, don’t go into the restaurant business. For your own good and ours, lleave it to the professionals.