So, You Want to Own a Restaurant? Tips To Get You Started on the Right Foot
Aspiring chefs and foodies everywhere dream of opening a restaurant. While it can be an enjoyable and worthwhile pursuit, it is also a major undertaking that requires careful planning to be successful. Following a few tried and true tips can help you get started on the right foot.
Pick a High-Traffic and Visible Location
If people don’t know you are open, you won’t attract customers no matter how good your food is. A visible location can be very helpful. As people drive or walk by, they will see the construction and anticipate your official opening. Opening a kitchen within another business or office facility is another option. This gives you an automatic audience as workers head in for lunch or a meal after work.
Furnish It With the Right Equipment
The right equipment for your type of restaurant will make your life and work much easier. Talk to other restauranteurs to see what equipment they are using, and what they do and don’t like about it. Think outside the box, too. You might find that displaying desserts in bakery store fixtures near the entrance entices people to order the extra course.
Build Relationships With Local Suppliers
From small equipment to fresh ingredients, you will need a lot of supplies as you get started. Make an effort to seek out and develop relationships with local suppliers. This can help you locate specialty items or supplies that are in high demand.
Plan for Slow Periods
In an ideal world, you will always have a steady stream of customers coming through your door. Sometimes reality is less than ideal, however, and you should plan for slower times. That might mean putting away a designated portion of revenue. having credit lines open and available to cover overhead during shortages, or a host of other strategies. Talk to someone at your local SBA office to find resources in your area.
Restaurants are a great way to showcase a passion for food. Taking the time to develop a solid plan can help you achieve success in your endeavor.