Pros
Training is straight forward and helpful; I had never been a waiter before and they were very understanding. The menu is fairly simple, and the drink menu is extensive but doable to memorize. As a waiter, you walk away with cash every night and all of the taxes come out of your hourly wage. The main demographic is families who are just there to relax and get a drink. Waterloo has an excellent selection of drinks and cocktails and a good chunk of your tips will be because of drinks. The staff is very laid back and friendly. On a typical night I made around $60 in tips. I've made as much as $100 in one night. Also, you get half off on everything you order from the restaurant, but no free meals or anything.
Cons
Although I made $60 a night on average, there were nights that I worked form 4-10 and only made $20-$40 in tips and felt like I wasted my night. On a typical night I didn't get out of there until 11, sometimes 12 depending on whether I'm working a closing shift or not. There aren't really any breaks- you're free to order food for yourself if your section is dead, but if you're busy you cannot take a break unless it's to smoke, which was kind of annoying. For me, working nights seemed to take up the entire day, and I felt like my work-life balance could have been much better.