Episode Overview

Podcast: How Much Can I Make? — Real Jobs. Real People. Real Money.
Host: Mirav Ozeri
Guest: Nicole Crawley, Co-owner of Yum Yum Noodle Bars
Air Date: December 2, 2025
Theme:
This episode chronicles Nicole Crawley's bold career shift from corporate banking to co-owning a group of successful noodle bars in the Hudson Valley. Nicole shares her journey, the reality of running restaurants, financials, staffing crises, operational insights, and tangible advice for anyone eyeing a similar leap.

Key Discussion Points & Insights

1. From Corporate Banking to Culinary Ambition

Background in Banking

• Nicole spent 20 years as a corporate banker, specializing in origination of debt and equity deals for media, telecom, and entertainment (00:59).
  • "I originated new deals ... both debt and equity financings, and I specialized in media, telecom, and entertainment." — Nicole Crawley (01:00)
• Experienced the Lehman Brothers bankruptcy, prompting her career pivot (02:00).

Turning Point & Culinary School

• Always fantasized about culinary school; applied and enrolled at Culinary Institute of America (CIA) after the 2008 financial crisis (02:00).
  • "Maybe this is a really insane time. The world seems to be falling apart. So, you know, what the hell—I'm just gonna apply to the CIA..." — Nicole (02:26)
• Describes CIA as “very regimented, like joining the Army,” with boot-camp teaching style (02:52).

Intent: Not ‘Chef’ but Entrepreneur

• Goal always to own restaurants, combining business skills with culinary passion (03:43).
• Became CFO for the existing noodle bar group, then transitioned to 50/50 business ownership with current partner Erica; now three locations (04:39).

2. Forming a Strong Business Partnership

• Nicole and Erica's partnership balanced complementary skills (05:08).

  • Erica: trained chef, operations expert
  • Nicole: finance and regulation
    "Our areas of competence work very well together. We kind of cover all the bases." — Nicole (05:33)

• Nicole primarily handles finances, filings, regulatory work; not involved in daily kitchen operations (05:43).

3. Evaluating & Scaling the Business

• Saw Yum Yum as scalable, with “economics that just made sense” (06:12).
• Running “a very lean ship” helps standardize across all locations (06:29).
• Explains the advantage of sticking to one restaurant concept for simplified purchasing and staffing (06:32).

4. The Reality Behind Restaurant Ownership

• Discredits glamorous myths: “It is a lot of behind-the-scenes work. It is long hours. It is one of the most detail-oriented businesses I have ever looked at.” (00:03, 06:52)
• Lists typical crises: unreliable staff, equipment breakdowns, theft, regulatory headaches (07:07).

Food Safety & Oversight

• Stresses the need for relentless food safety vigilance and constant staff training (07:48).
• Visits each restaurant at least weekly, managing deposits, invoices, and quality control (08:19).

Liquor Sales Reality

• While they hold full liquor licenses, their restaurants are mainly family-oriented, so alcohol isn't the primary profit driver (08:54).

5. Staffing Shortage Crisis

• Scaling further challenged by severe shortages in qualified kitchen staff, due to restrictive immigration policies and demanding nature of the work (09:18).
  • “Immigration policies... have become so draconian that it is very difficult to find qualified kitchen staff.” — Nicole (09:19)
• Asserts many Americans aren’t interested in the physical demands, regardless of pay (10:11).
  • “It’s hot. There’s a lot of pressure... I think there are a lot of people who just wouldn’t want to do that work at any price.” — Nicole (10:40)

6. Advice for Aspiring Restaurant Owners

• Passion is Non-Negotiable:
  • “It is going to be all-consuming. It is going to be your life.” (10:51)
• Get the Right Partners:
  • Seek teammates with complementary skills; finance and operational experience are both necessary (10:56).
• Own Your Real Estate:
  • Owning the physical location is key for long-term security and business value (11:54).
  • “When you are in the restaurant business, you should also be in the real estate business...” — Nicole (11:59)

7. Biggest Challenges & Rewards

• Surviving partner buyouts and navigating COVID-19 were major tests (13:13).
• The biggest reward: community recognition, business autonomy, personal fulfillment (13:21).
  • “It is extremely satisfying to feel like you are running a business successfully... controlling your own destiny more.” — Nicole (13:23)
• Contrasts this with time wasted in corporate meetings (13:52).

8. Financials: How Much Can You Actually Make?

• 20-seat restaurant: Nicole wouldn’t recommend; depends on the dining concept (16:16).
• Margins:
  • Fine dining = slimmer margins
  • “Mid-range,” family-focused places (like Yum Yum) can achieve 20-25% margins if run leanly (16:23).
  • “If you’re able to run 20-25% margin on your business, you can make a very comfortable living.” — Nicole (17:53)
• More locations mean higher earnings, though profits are split among partners (18:04).

9. Keys to Ongoing Success

• Consistency is Everything: The #1 factor for lasting restaurant success (18:15).
  • “Consistency is the absolute cornerstone... No amount of advertising is going to make up for things if people get a pad thai and it’s different every time they get it.” — Nicole (18:40)
• Rely heavily on repeat business from the local community.

10. Looking Ahead & Personal Reflections

• Expansion is limited by staffing; no plans to diversify the concept (19:37).
• Loves restaurant life, but recognizes its toll, especially for partners with families (19:57).

Notable Quotes & Memorable Moments

• On Glamorous Myths:
  "People sometimes have very glamorous and unrealistic ideas about what owning a restaurant is going to be like... The reality is not that." — Nicole (06:52)

• On Restaurant & Real Estate:
  “When you are in the restaurant business, you should also be in the real estate business...” — Nicole (11:59)

• On Staffing Struggles:
  “The work is very physically demanding... I think there are a lot of people who just wouldn’t want to do that work at any price.” — Nicole (10:40)

• On Fulfillment:
  “It is extremely satisfying to feel like you are running a business successfully... controlling your own destiny more.” — Nicole (13:23)

• On Financial Reality:
  "If you’re able to run 20-25% margin on your business, you can make a very comfortable living." — Nicole (17:53)

• Host’s Favorite Menu Picks:
  "My favorite is by far the buns. Those are addictive." — Mirav (14:31)
  “I have to put in a plug for our burger. ... Spicy mayo and kimchi and it is so juicy and delicious.” — Nicole (14:36)

Timestamps of Major Sections

• Transition from Banking to Culinary School: 00:46 – 03:43
• Finding a Business Partner & Restaurant Acquisition: 04:35 – 05:37
• Scaling the Restaurant Business & Operational Details: 06:01 – 06:49
• The Tough Reality of Restaurant Ownership: 06:49 – 07:46
• Staffing Crisis & Immigration Policy Impact: 09:18 – 10:44
• Advice for New Owners & The Importance of Real Estate: 10:51 – 11:59
• Biggest Challenges and Fulfillment: 13:11 – 13:54
• Restaurant Financials—Margins and Earnings: 16:16 – 18:09
• Consistency & Customer Loyalty: 18:15 – 19:33
• Personal Reflections & Looking Ahead: 19:37 – 20:16

Summary Takeaways

• Restaurant ownership is grueling but can be deeply rewarding for the right person—provided you possess passion, business skills, and resilience.
• Scaling is constrained not by money or ideas, but by finding and keeping great staff.
• Financial success is possible, especially with multiple locations and disciplined management.
• Ownership, consistency, community recognition, and autonomy are among the greatest satisfactions.

Anyone eyeing a restaurant career change will find in Nicole’s story both a candid warning and an encouraging path forward—rooted in realism and hard-won wisdom.