How to Successfully Open a Restaurant

If you've ever dreamed of owning your own restaurant, then you probably know just how much work goes into it. The business can be tough, but well worth it. It's important to get the basics right from the outset in order to give your restaurant the very best chance of being successful.

Decide on a Style

What type of food will you be serving at your restaurant and what type of style and atmosphere are you looking to achieve? From a small, intimate venue serving high-end cuisine, to a family-style buffet, there are many choices to make. The most important thing is to research the area you are planning to open in thoroughly. After all, if there are already a number of sushi restaurants, then opening another one and the same palace is going to make it much more difficult to be successful unless you have a particularly strong selling point. This decision will be the cornerstone of your business planning. Your menu, premises, design and marketing will also flow from this.

Secure Funding

It can take time for a restaurant to start making a profit, which means that you need to have sufficient funding in place to not only set up and launch your restaurant but to carry it through the first few months too. Investors, startup business loans, savings and re-financing are all potential ways to fund your business dreams.

Target Market

Your target customers can be tricky to pin down. For example, you might be in a town with a lot of students, and want to attract them, or perhaps you want to be able to have a thriving delivery option too. It all depends on the people who live in your area, what they want and how you can meet these needs.

Business Plan

Once you know what type of food you want to make and who you want to make it for, it's time to put together your wider business plan. This plan will not only include your market research, but will also map out branding, marketing, staffing and financials. Unless you're completely self funding, it's unlikely you'll get any form of investment or finance without a plan in place.

Secure Your Location

The loction of your restaurant is important. You want it to be accessible and in a good area, but you also need to think about costs too. Once you've negotiated a lease, you can then start getting the relevant licenses, permits and business insurance in place. If you're planning on serving alcohol, then you'll need to complete a lot of paperwork to get the licence.

Create Your Restaurant

Now you can turn that empty space into your dream restaurant. From the lighting and furniture, to the kitchen and storage, you need to get this right. You should have covered the overall brand and feel of the restaurant in your business plan, so it's a question of making it a reality.

Find The Right People

You're going to need good people holding a food handler license to run your restaurant with you. So be sure to incorporate the appropriate training methods that reflect the brand of your vision. It doesn't matter how great the food is, if the service is poor, then people aren't going to come back.

Start Marketing

Now you have to get customers through the door. The quality of your food and service will keep them coming back, but you have to attract them in the first place. Having a solid marketing and promotions plan will do this. Make sure that your local listings and SEO are up to date. Use local reviewers and press to get the word out there. Capture as much data as possible by having email sign ups, social media competitions and other ways to generate interest. If you have the funds, hire a marketing agency or freelancer to create and run a strategy for you.

Takeaways

The food industry is a notoriously difficult one to succeed in. It takes a lot of planning and hard work. But when you get it right, it can be a dream come true, and perhaps just the first in a line of restaurants. Taking the time to research your plan thoroughly and setting a good foundation is one way to increase your chances of success. Before you know it, you'll be opening the doors to your very own restaurant.