Your dream is to start a new restaurant, but you also know it is a daunting task. There are a number of things to consider and look at whether it is finding the right location, selecting the right name to financing the restaurant.
Type of Restaurant
The first question to ask yourself when you want to start a new restaurant is, what type of restaurant do I plan to run? Are you looking at a casual diner? Or, high-end fine dining restaurant? Do you like a specific type of cuisine? This is your first step to starting a new restaurant.
Second, but as important as the first is your location. The success or failure of your restaurant depends on the location. Do some research, dig deep and find the right spot. If it is some shack hidden away in the back of nowhere, for instance, you cannot expect customers to find it. Is parking available? Does it accommodate foot traffic?
Name of Restaurant
The most fun step to start a new restaurant is you get to come up with a name. Although it is good to remember that the name should be aligned with the food and theme of your restaurant. It can also be called after the restaurant owner.
Why do you need a restaurant business plan? If you plan to request financing, no bank or financial institution will finance you without a proper business plan. It is just as significant as the location and name of the restaurant. A business plan is your ultimate guide on how to operate your restaurant. It will map out the route you need to take particularly in the first year of operation. The plan will indicate your profit-making strategy and a 5-year plan for the restaurant.
Once the first few important decisions have been made, it is time to design a clear and descriptive menu. Avoid too many disclaimers and clip art on the menu. A restaurant consultant will be able to guide you on how to create an attractive menu that increases restaurant profit.
Advertise the Restaurant
New restaurants need to get into the mode of advertising. Combine traditional advertising with new age digital marketing to get the word out. All in all, don’t forget word of mouth marketing, good news travels quickly and if you maintain a good standard serving delicious food and providing outstanding customer service, you can be certain customers will market your restaurant for you. However, a new restaurant should dabble with social media marketing in terms of offering discounts, giveaways, and contests at the restaurant.