One of the biggest mistakes—and lessons learned early in my business journey—was due to underfunding. It happened when I opened my second venue, a fine dining restaurant that held 3 AA Rosettes. We transformed an old warehouse into a beautiful space with a bespoke kitchen and unique features like a fish tank that offered a view of the chefs at work.
Despite careful budgeting and accolades, we closed just 2 1/2 years later. It wasn’t the cost of the renovation that broke us; it was understanding the complexity of getting a hospitality business to fly. People are creatures of habit, and building a loyal following takes time, marketing, and purpose.
We ran out of money before we could truly establish ourselves. This taught me that hospitality projects require more funding than you might think. That’s why Kith & Kin Hospitality exists—to help others avoid the pitfalls I encountered.