6 Helpful Tips for a Successful Start-up Restaurant
Restaurants come and go. Opening and successfully running a restaurant is not a simple matter. If you are thinking of opening a restaurant, follow these 6 helpful tips to give your business a better chance
Restaurants come and go. Opening and successfully running a restaurant is not a simple matter. If you are thinking of opening a restaurant, follow these 6 helpful tips to give your business a better chance to succeed.
1. Capital :
Make sure that you have enough money available to set up your restaurant and to support it for at least a year. 60% of businesses fail within the first year because they do not have the capital behind them to get established. If you do not have a huge amount of financing available, consider starting out small. If you can make a success of your restaurant on a small-scale, upsizing becomes a more realistic possibility. Do not over-extend your credit or loans – instead, focus on building a solid small business and then progress when you have earned more money.
2. Passion and dedication :
Money alone is not sufficient. You need passion and dedication to make a restaurant a success. Be prepared to work 24/7 and to personally oversee every aspect of your business. Get ready for long hours, no holidays, and little sleep. Employ just enough staff to cover your needs. As you expand you can take on more personal, but keep in mind that staff wages are potentially a very large expense for smaller businesses. Don’t cut corners in your hiring process: employ well-trained staff who know how to do their job or who can learn very quickly. Familiarise yourself with every job in your restaurant from dishwasher to bartender. If someone does not show up, be prepared to take their place. Your staff will appreciate your dedication and will work harder beside you to make your restaurant a success.
3. Planning :
Research and prepare a business plan well before you open the doors of your restaurant. You need to consider the atmosphere that you wish to create to complement the food you plan to serve. You need to think about every aspect of the restaurant, including floor plans, furniture and fittings, staff, menus, legal requirements and regulations. Investigate the figures and menus of your competitors and learn from their successes and mistakes. Check out restaurant planning templates and make use of business planning software. The more information you compile beforehand, the more likely your restaurant will succeed – if you interpret the statistics correctly. Investment in professional assistance during planning could help you determine the future of your restaurant.
4. Location :
This is probably the single most important factor in making your business work. When you select a physical location for your business, choose one where your target audience spends a lot of time. Ensure that you have room to expand and that it is within your budget. Determine the amount of money you need to spend to convert the interior into what you envisage for your restaurant.
5. Fittings and fixtures :
Invest in the best you can afford for both your kitchen and restaurant. Plan your kitchen with all the equipment that your staff needs to produce excellent food. Talk with your head chef about what he needs to produce the menu you have in mind. Use stainless steel sinks and work surfaces which are durable and easy to keep clean. In the dining room create different areas to attract different customer demographics. Have large tables for groups, a family area, cozy tables for couples, and perhaps a counter for individual diners. Use your space wisely so that every client has the space they need to enjoy your culinary delights and so your staff can easily attend to them.
6. Try out your menu :
Don’t rely only on the options of friends and family. Start with a limited menu and ask your clients for honest feedback. See what people are liking and develop more offerings from there. Be flexible and innovative – add new things but keep some old favorites as well.
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