For those of you considering opening a restaurant, the process can seem daunting. Establishing a successful restaurant requires lots of planning. The checklist here should help you gather all of the information needed to become a successful restauranteur with your dream of opening a successful restaurant.
Defining Your Concept
The first step in the process of opening a restaurant is determining the type of restaurant you would like to open. The type of restaurant will determine the kind of menu, personnel, location, and even the licenses required. Here are some questions to help you define your concept:
- What type of cuisine will it be?
- What type of atmosphere do you intend to create?
- What will be the demographic of your customers?
- What kind of services will you provide?
- How does this concept fit into the market you’ve chosen?
The answers to all these questions will help you create the perfect concept for your restaurant.
Creating the Menu
Once you have determined the concept for your restaurant, the next step is creating the menu. Creating a comprehensive menu that set you apart from your competition is vital. Here are some tips for creating the perfect menu:
Have balance: Too many items on your menu will overwhelm guests and make it challenging to provide quality service and ingredients.
Be mindful of allergens: Be sure to provide an option for all dietary restrictions.
Attention to detail: Each food item should be accurately and positively described on the menu.
Embrace seasonality: Consider incorporating seasonal ingredients into the menu.
Location, Location, Location
The location of your restaurant plays an essential part in its success. When selecting the right location a few things to consider are:
Does the neighborhood meet the concept of your restaurant?
Is there adequate parking available?
What is the demand for eateries in the area?
Is the location easy for customers to find?
These considerations should help you find the perfect location for your restaurant.
Developing a Business Plan
Once you’ve chosen a concept and found the perfect location, it’s time to develop a business plan. A business plan outlines the needs of your restaurant, from the finance to marketing. Additionally, a business plan should include a business overview and market analysis, financial statements and analysis, and a detailed report of objectives. Not sure where to start? Consider reaching out to an experienced mentor to help you get started or use business plan software.
Funding Your Restaurant
Finding the right funding for your restaurant is one of the most essential steps in the process. Every business requires funds, and there are several ways to acquire that capital. Here are some of the most common ways to acquire the funds:
Self-Funding: Many restaurant owners use some of their own personal capital or resources to fund their new business, or they might opt to use credit cards or loans.
Investors: Some owners, especially those looking to open a larger restaurant, may consider seeking out investors to help fund the restaurant.
Small Business Administration: The Small Business Administration (SBA) backs loans for small business owners, so qualifying companies may be granted a loan for startup costs.
Another key step in opening a restaurant is selecting the right suppliers. It’s important to match the concept of your restaurant with the right suppliers for food, beverages and even supplies (chairs, tables, etc.) Here are four tips to help you select the best suppliers:
Quality and Variety: Make sure the suppliers you work with are reliable and offer quality products.
Compatibility: Your suppliers should also be compatible with your concept, brand and goals.
Cost: Be sure to shop around and compare prices to ensure you are receiving competitive rates.
Reputation: Research the supplier and read reviews to ensure they are reliable and professional.
Permits, Licenses, and Insurance
To ensure your business is 100% legal, you must obtain the necessary licenses and permits. A few of the licenses you must obtain include:
- Business licenses
- Alcohol licenses
- Food permits
- Building permit
- Health permit
You should also consider investing in insurance to protect yourself, your staff and customers in case of any liabilities.
Creating Marketing Strategy
Without a proper marketing strategy, customers won’t know about your restaurant. An effective marketing strategy should include digital, print, and content marketing tactics. Here are some of the marketing tactics you should consider:
Develop a website: An attractive website is essential in today’s market.
Social Media: Invest in digital marketing campaigns on social media platforms such as Instagram, Facebook and Twitter.
PR Campaign: Create press materials for the restaurant and reach out to local media outlets.
Customer Loyalty Program: A customer loyalty program will help build a base of repeat customers.
After a lot of hard work and planning, the day has come – your restaurant opening day! Be sure to be prepared by taking care of any last minute details and planning a grand opening. Here are a few tips for success:
Train Staff Thoroughly: Make sure all your waiters and staff are well-trained and professional.
Have Enough Food and Supplies: Make sure you have enough staff, food, kitchen supplies, and beverage for opening day.
Have an Established Schedule: Make sure you have enough wait staff on hand and that they have an established schedule to follow.
Run Promotions: Offer promotions such as discounts or free items (apps, desserts, etc) to attract more customers on opening day.
Opening a restaurant is no easy feat. But with the right planning and hard work, you can make your dream of owning a restaurant a reality. Starting with a concept and creating the perfect menu, finding the right location, and enough funding, having the right permits and licenses in place, and marketing your restaurant, you can ensure your restaurant opening day is a success.