We're sure many of you have dreamed of having your own restaurant. Nowadays, there is a wealth of information on how to do this and a wide range of experts to consult. That said, bringing a restaurant to life is a hugely complex task, even if the funding is there. There are factors that can and cannot be influenced. The first task is always to choose the location of the restaurant carefully.
Before finding the place
Many people make the mistake of not taking needs into account. It is essential to find the right location for the concept of the restaurant. Once you know the type of restaurant you want to create, you can decide where to locate it. It could be a restaurant, a canteen, a bistro, a fast food restaurant, an ice cream parlour, a bakery, etc... take into account that what the style of the place will be, traditional, international cuisine, vegan/vegan, or other special category you want to represent. You should be aware of the identity elements we represent before you choose a location. The business plan and the costs and revenue expectations for the restaurant. Don't look for a fast food restaurant in the middle of the Plain, and don't imagine that a high-end gastronomy establishment can survive in a less prominent location. It should be added here that there are counter-examples, as the recent Michelin Guide has pointed out. However, this requires serious and long-term financing.
Market research
Once you have the facts listed above in mind, you can start looking for the right place. It is always - and this is a general thesis - worth choosing five suitable locations. The task now is to evaluate the locations. First of all, the basic needs of the location and the situation of competitors must be assessed. The viability of our concept and the presence of solvent demand must be taken into account. Whether particular demographic groups are receptive to the style of the restaurant being designed. It is very important to assess the average earnings of the local audience, as the viability of a restaurant is nowadays heavily influenced by its regular customers.
The visibility and accessibility of the restaurant is a critical factor. It is worth choosing one that can be seen by many people. They can pass by on foot or even by car at any time. It is important to check what parking is available nearby.
We must never forget that we are in a competitive situation. Restaurants nearby, their operation, concept and prices should be carefully considered when designing your own. If there is a high degree of overlap, we need to change either the location or our ideas.
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“All I'm saying is that it's all about maths”
Once you have found the right place, it is time to assess the costs. Of course, the ideal situation is to get the property cheaply. The next step is to calculate the overheads, i.e. whether the monthly upkeep of the place can be expected to be covered and whether there will be a profit. For restaurants operating as a business, where every penny counts, should not be counted narrowly.
You need to know well in advance what permits are required, whether there are other legal factors in the region. You will have to take into account sales taxes, health permits, business licenses and registrations, various requirements of official bodies (fire brigade, police, NÉBIH, consumer protection). For example, if the selected premises did not previously have a restaurant, a sample of the drinking water must be taken and analysed by an accredited water testing laboratory.
You will have to take over accounting, payroll and reporting tasks. Human resources and their costs need to be taken into account, and after all this, the realistic and economically viable operation of the restaurant in the given location needs to be assessed.
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Image and marketing are as important as location
Many people tend to forget that opening a new restaurant is just the beginning. You need to have enough capital to run it for at least a year and a half. There are also huge costs involved in starting up a restaurant, if one is professionally would like to implement. We need to make sure that the restaurant has an attractive interior and that we can show it to the world. Image plays an increasingly important role in reaching and retaining the target audience. In any case, marketing is a cost that pays off in the long term.
Knowing all this, finding the ideal location for a restaurant is a very thorough preparation, survey and planning. It's never worth rushing into it, and what seems ideal at first should never be jumped into blindly.
