Opening a restaurant is something many people dream about. However, only a handful gets around to actually doing something about this dream. No one wants a failed restaurant. What are some of the things you need to start your own restaurant, and that you cannot do without.
A fantastic chef, delicious location and a great concept are three big things you must have before opening up your restaurant. Your concept comes first, your location and chef should fit the concept. If these three things don’t fit, you will have to deal with unnecessary drama. Some people think location doesn’t matter. But, it does matter greatly. A bad location, for instance, a shack on the outskirts of town will not get you well paying patrons. Your restaurant should be accessible to people. This is what makes location a key element to starting a new restaurant. If your restaurant is accessible in terms of location, you will find customers returning time after time. The most successful restaurants are accessible in terms of price, brand and location.
Spot the gaps in the market and fill up you share. If there is a massive gap for fish and chips in a particular area, pull together a concept very quickly. You may have not invented fish and chips, but it will certainly feel like you have for the patrons gracing your restaurant and who have been starved of them for a long time. Factor in the environment. People want to feel relaxed and happy when they go out for a meal. Not everyone wants to have a serious poker face when they are about to close a make or break deal. There are restaurants geared for this type of setting too. In general, people go out to feel happy and have a good meal. Let people have fun in your restaurant.
Overestimate your capital plans. Do not start a restaurant with less money; your operations will not last more than 6 months. Expenditures add up quickly in the initial stages and it does take time for a restaurant to start churning in profit. Once the initial excitement is over there is always a downswing in business. This is when your capital matters. There’s a waiting period to see if the restaurant will actually catch on. And you need to have capital to operate during this period.
Spend money and add value to your guests. Do not go cheap on things you think your patrons will not notice like valets and equipment. Patrons notice everything. A percentage of revenue should be kept aside for improvements in order to enhance the experience of your guests. You don’t have to run competitions or contests but you can give away complimentary dishes and gift cards.
Focus on getting your system running smoothly. The failure to have a system in place is one of the biggest downfalls of independent restaurateurs. Restaurants thrive when there is a working system in place. Do not worry; organization doesn’t kill your creativity. In fact, it will only increase when outstanding systems are put in place.