When starting a restaurant business you will be required to perform a wide range of job duties including ordering supplies, managing employees, advertising your restaurant, complying with health codes and federal regulations and creating a menu with prices that will attract your target market. There are many different types of restaurants you can decide to start such as a pizzeria, ethnic food or family style to name a few. You can decide to focus on the fast food industry or target the mid-scale or upscale market.
Choosing a Restaurant Location
Location, Location, Location many say your location will make or break a business. This can be especially true for a restaurant business. Make sure to do your homework before choosing a location for your restaurant, it just may be one of the most important business decisions you make. Research local competitors. Are they often overcrowded with customers? Do customers often have to wait in long lines to purchase food in your local area? When choosing a location also consider the following factors; Does it have parking? Is it easy to get to? Is there enough surrounding traffic? Is it reasonably priced?
As you probably expect starting a restaurant business will not be cheap. Basic costs for a restaurant business include location, kitchen equipment, equipment for the dining area (depending on what type of restaurant you are starting), bathroom supplies, marketing costs, food supplies and employee salaries. Costs for starting a restaurant business can vary depending on your location and type of restaurant you are starting.
- Gain Experience– Before starting a restaurant business it is a good idea to work in one first. This way you can gain first hand experience working in a restaurant. With this experience you will gain valuable experience and insight that will be helpful when starting your own restaurant business.
- Look out for Trends– Big restaurant food chains spend considerable amounts of time and money on market research to uncover new trends in the market. Take advantage of this research by keeping an eye on their latest trends including menu items and advertising. For example McDonalds as well as other fast food restaurants decided to add some healthier options to their menu as a result of people becoming increasingly health conscious.
- Keep your Restaurant Clean– Having a reputation as a dirty restaurant can do considerable damage to your restaurant and even put it out of business. A dirty restaurant will not only scare away potential customers, it can also put you in violation of local health codes.
The mobile food industry has grown in popularity in recent years. What attracts entrepreneurs to this kind of business is that it offers more flexibility when it comes to location and it is often much less expensive to set up than a contemporary restaurant. Mobile food businesses such as an ice cream truck or mobile food truck have an advantage as they can be moved to different locations; so instead of customers coming to you, you go to them.