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[LA TIMES] For novice restaurateurs, risk of failure is high

July 27, 2015

[LOS ANGELES TIMES] — Ari Taymor’s 3-year-old restaurant Alma basks in the kind of acclaim most young chefs can barely begin to fathom.

Within a year of opening, when Taymor and business partner Ashleigh Parsons were just 26 years old, the downtown Los Angeles eatery was crowned the best in the country by Bon Appetit magazine. Each of the eight tables was booked for three months solid.

Even now, the elegantly plated California cuisine continues to scoop up awards and remains popular with guests.

But Alma, Taymor said, is in constant danger of going out of business.

It’s a common state of existence for many hot young restaurants. Their wunderkind chef-owners are often culinary artists but financial novices, honing their skills through hours of grunt work, learning their way around a kitchen but not a business plan. [READ MORE]