The restaurant business is an ever changing ever evolving one indeed. There are important factors to consider when opening a restaurant, a food business is not and never has been a straight forward affair. Some core aspects to consider before you even start your restaurant are:
- Have you got the money to do this?
- Have you covered all the legalities?
- Do you have the commitment for a food business?
So many businesses, not limited to restaurants but especially so in the case of restaurants have the tendency to evolve from a concept into a physical business overnight. Often this takes place with little to no planning involved and just as often we see failures. It is sound advice to seek professional advice on the subject, invest your time and a little money in the advice it will surely pay off.
Next thing to do would be to decide on a concept, a unique selling point if you will.This involves knowing what type of restaurant you want to start up and what kind of audience you are targeting. Demographic information on the area and other similar knowledge will go a long way.
Market research is also a most valuable and very necessary element you don’t want to be missing your target audience, a little bit of analysis of your competitors can give a lot of useful information to you as well.
Put all this together in a business plan, again professional help in this department might pay off in the long run. Business plans play a fundamental role in structuring your business model clearly setting a direction for your business and also attracting investors. Your business plan doesn’t need to be a massive extensive document either, just make sure it has all relevant info for yourself your staff and your investors to have a good idea where you’re going.
One thing you cannot skimp on in the restaurant business is the kitchen and equipment therein. Invest in good quality apparatus right from the start and you will save a lot of trouble in maintenance and repairs in the days to come.
You will need to make sure you have all the regulations met and licences for things like health and safety, alcohol licences music licenses and the list goes on, depending on where you are in the world. You might want to make sure all this is cleared up before you open your doors, being shut down in the first few days can have a devastating financial effect on your business.
Lastly but by no means the least important part of your business, the staff. In the hospitality business team, work is vital. You need good staff. Don’t be perturbed by the idea that staff is hard to find, just ensure your job descriptions are clear when placing ads.