(Newswire.net — January 6, 2021) — If you have knowledge and experience, the passion and the drive, opening a restaurant can be a dream come true. The chance to ‘let-go’ creatively is hard for most chefs to resist. For a chef to have the chance to open his own restaurant and create the food he loves is a wonderful thing that should be encouraged.
Read on to find out the top four things to plan for and open in the restaurant, and how to make that dream a reality.
Essential Planning for New Restaurant Owners
1. Funding is arguably the main issue people face when opening a restaurant. It is easy to underestimate how quickly money gets swallowed up in the restaurant game.
If you don’t have the capital yourself to fund a new restaurant you will probably be considering taking out alone. Many companies now offer unsecured business loans for new businesses that are easy to apply for and are especially for customers with bad credit, or who are young and need their first investment.
However you secure your funding for your new business, you should be able to see yourself through the first two years financially, as many restaurants do not break even for around that amount of time. Food for thought.
2. Business plan – your business plan is arguably one of the most important aspects of your business, for any budding entrepreneur. Your business plan’s interface should appear professional. It should be tidy and lively, yet knowledgeable, trustworthy and accurate. Pitching to a potential investor is very important, so your business plan must look the part and be able to answer any questions a potential investor asks.
3. Location – people will travel to you If you are good enough. There are plenty of restaurants in hard to get to places, but we still flock to them because we know we will receive a quality service.
Having a regular footfall is nine times out of ten a good thing for a restaurant. The chances of people walking by and coming in to eat at your place are significantly higher than if they can’t see your restaurant!
4. Marketing – never underestimate the importance of clever marketing. Get out there and post flyers through people’s doors, give out free samples, advertise on social media platforms such as Instagram, Facebook and as many local media outlets as you possibly can.
However you fund your new business, make sure you simply add value. Give the customer no choice but to return!