I'm not under the impression that most restaurateurs are "raking it in" staff be damned. Sure, at the ultra high end, yes, but for most restaurants a chef pay is function of the market, right?
A chef's pay is a function of the market, and that's why everybody is exiting the industry right now. Head chefs and restaurant owners are used to decades of low wages and think it's quite insulting that anybody would dare ask for a better wage. Then they wonder why "nobody wants to work anymore". At the same time, chances of advancing your career are very limited. If you manage to stick around for a few years as a chef, you will already be able to manage your own restaurant, but the salary for that will be just marginally higher. Unless you want to strike it out on your own, and take on massive debt for a business with low margins.
Working in a kitchen is the worst career choice a young person can make. If you have that skill, ambition, passion and drive, you will be much better rewarded in any other sector.
Edit: To add to my previous point: A person who can be a successful food truck entrepreneur would probably make a much better return investing his skill and money into a non-food venture. Food trucks are expensive, for the price you need to pay to get that business going, you could buy the equipment needed to start a more lucrative business.
not really, if the skills of the owner is essential to the business (which is true for a foodtruck). You won't be hiring a chef, you will be doing the work yourself.
I would argue food truck business is less capital intensive than opening the equivalent restaurant.
He may refer to himself as a "restaurateur" or a "restaurateur who is his own landlord" for social status or tax reasons but I am suggesting that this framing is misleading: if his income is primarily as a result of the real estate he owns then his actual occupation is "landlord".
Non-remunerative avocations like, I don't know, building wooden sailboats, painting, community theater, photography, gardening, raising cattle, or managing a restaurant may be intense and rewarding, but if the expectation is that they will have no marginal impact on income one way or the other then they are more like hobbies.