Guy Holmes is an expert in restaurant marketing and restaurant web designing. He is also a renowned author of www.tri.eu.com.
Starting a restaurant business and more relevantly starting your own restaurant is a massive undertaking. In fact, size is little guide to how much hassle you are going to have, except in the largest restaurants (100+ covers) where things can become very tricky indeed.
Before starting your own restaurant business it is worth considering a small list of points. These are things we’ve seen every new restaurant owner struggle with.
Never under budget. In our own experience most people starting a restaurant business spend the most money on refurbishment, then they overstaff during the opening period but they don’t spend enough on marketing, management or on a quality menu. This keeps turnover low and customer loyalty low which means business for the restaurant is tough from the start. You need to allocate at least 3% of your projected turnover for marketing.
Forget its your own restaurant business and play the hard nosed customer. Ask your self constantly; Why should anyone come to my restaurant? Why would anyone pay these prices? How can I show my restaurant is different? Do enough people know we are open for business? Do I really understand generating good profits in the restaurant business? From starting a restaurant until the day it generates good cash profits you can never be too harsh on every aspect of the business.
Restaurant businesses need a great location. Before starting a restaurant, or more likely taking over an existing restaurant business, you need to take a guided tour of the location or choice of locations. Your guide should be anyone that knows the area intimately and eats out regularly in restaurants. Analysing this, BEFORE you open and looking at the local competition is essential. The restaurant business varies enourmously from site to site.
Some sites have huge footfall during the day or during the evening. Some sites are badly positioned or in poor areas, while others attract wealthy clients. Some sites are seasonal while others are a good bet all year round. Starting in the right location can boost your turnover considerably.
More than any other factor, your location will affect your cashflow. Remember also that the worse the location the more you MUST spend on marketing and the better your food, ambience and service have to be. Starting a restaurant by saving money and getting a poor location, starting with a cheap offering and spending very little on marketing is a recipe for disaster.
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