What’s the secret to running a successful restaurant in Lawrence?

George and Peggy Kritos, owners of the Mad Greek Restaurant, 907 Mass., maintain that there is no secret. Rather, it’s just good, common sense.

“We just try to do whatever is the right thing to do in the food business,” says George, 51. “It’s three things: consistency, affordability and quality. You can’t afford slip-ups. Too many slip-ups, you’re gone.”

It’s apparent the couple, married 16 years, has found the right formula for surviving in a city where restaurants come and go each year.

They opened the Mad Greek in 1988 at 1408 W. 23rd St., now the site of Taco Bell, moving their business in 1993 to its current location, in a building the couple bought that year.

That means the restaurant has a solid track record of 15 years in Lawrence. Chances are that if you’ve lived here any amount of time since the Mad Greek opened, you’ve likely stopped in for a meal.

The Mad Greek is a popular place to eat, and, even in times of economic downturns, there’s never a lack of customers at the door.

In fact, the couple says, their business has increased every year, despite increasing competition from new entries in the already crowded marketplace.

“Lawrence is not a difficult place; it’s a challenging place. The challenge is to keep giving people what they want without charging too much. Ninety percent of our business are regulars: couples, families, business people, professors,” says Peggy, 38.

George and Peggy Kritos, owners of the Mad Greek Restaurant, 907 Mass., say their business has increased every year since opening in 1988. The owners say the downtown location contributes to their success.

“The bottom line is, customers appreciate hard work. You take care of them, they’ll take care of you.”

The couple believes the Mad Greek’s location in Lawrence’s downtown business district contributes to the restaurant’s success.

“Downtown has only gotten stronger over all these years, and it is only going to continue to get stronger. The family activity is getting better and better every year down here,” Peggy says.

But a good location alone can’t ensure a restaurant’s survival.

“In order to be successful, you have to get your hands dirty. There’s times I go into the kitchen and cook right next to our employees. If you want to earn their respect, you have to work as hard as they do,” she says.

The couple has plenty of experience in the restaurant business.

George, who came to the United States from Greece in 1971, has owned and operated a series of 13 restaurants — including the Mad Greek in Lawrence — since he emigrated.

Peggy, who says she has been cooking since she was 10, has worked by her husband’s side for 16 years. She can be found at the Mad Greek nearly every day, making sure the food is fresh and the service friendly and prompt.

George cautions would-be restaurateurs to think twice before trying to open a place of their own.

“This is a serious business. You have to be a perfectionist, and you have to love what you’re doing. Do your homework before you get into it; do the math. If you go into it to make money, that’s the wrong reason. You’ve gotta like it,” he says.

The couple, who have three children –two of whom work in the business — credits a stable and cohesive staff as a major ingredient of the Mad Greek’s success.

“It takes 34 employees to run this place, and everybody plays a part,” Peggy says.

Many members of the staff have been at the Mad Greek for eight to 12 years, and there’s little turnover. Employees are offered health insurance, and those who have worked at the restaurant for at least three years can participate in a pension plan.

“You have to be proud to do what you do, and you have to be willing to share a slice of the pie with your employees,” she says.