Entrepreneurs who are interested in jumping into the restaurant business have a lot to look forward to. Running a restaurant can indeed be stressful, but the fast-paced lifestyle associated with the industry is just one of the reasons why so many people enjoy being a part of it.
In order to properly get a restaurant off the ground, however, there are a great deal of things that need to be taken into consideration. There’s a reason why 30% of restaurants fail within the first year they’re opened; a lack of proper planning can truly have detrimental effects.
Worrying over whether or not your restaurant is going to succeed won’t do you any favors. Instead, focus on what you can do to succeed. Here are just a few tips to help aspiring restaurateurs achieve their goals.
Choose Location Over Everything Else
There’s really no getting around how important it is to choose the right location when planning to open a restaurant. If you’re familiar with the term “haunted location,” you’re likely aware of the fact that some areas are simply not fit for certain types of restaurants. As a result, you’ll want to do as much research as possible into the area that you’re searching for a space. Get to know which parts of your city have restaurants with successful turnovers and which do not. Also, keep style of cuisine in mind and search for a location that will allow you to carve a unique niche in the surrounding neighborhood.
Don’t Skimp on Initial Supplies
One of the most difficult aspects of opening a restaurant is being able to afford to outfit it with supplies. Between kitchen equipment, dining room furniture and everything in between, there’s no denying the fact that opening a restaurant can be an expensive endeavor. Skimping on initial supplies, however, will do you very little good and could even potentially derail your restaurant during the beginning stages. It’s worth mentioning that many people forget about the little things when planning a restaurant opening; proper cooking utensils, guest checks, table linens etc. Make a list of everything you think you need and allow others with experience to go over it with a fine-toothed comb for you.
Start With a Test Menu
A common mistake made by first-time restaurateurs is throwing all of their money towards food inventory right off the bat. It would make sense to the think that a large menu would serve to bring in more costumers, but there’s a huge chance that you’ll be letting a great deal of food go to waste in this scenario, as spoilage occurs quicker than most people would like to admit. Work with your chef to draft a small, limited test menu to help get the ball rolling. This will not only drum up interest for your restaurant, but will allow you to keep food costs to an absolute minimum to begin with.
Embarking upon a career as a restaurateur can be frightening, but if you make the right moves, you’ll find that it can be an excellent business venture.
Article contributed by Jenna Smith
