How to find the right place for my restaurant?
Hundreds of people dream of starting their own restaurant and of course, they dream of this business being successful! In almost all cases, the path to business success begins with choosing the right location for your new restaurant.
In this post we will talk about some strategies that you can apply to find the right place for you.
Think about your concept and menu
The space requirements for a fast food restaurant are very different from the space required for a fine wine and cuts establishment. Does your menu require quick sales or an extended desktop? Think about how you want people to interact with your menu.
Keep your ideal customer in mind
Do you already know who is the type of person you want to go to your establishment? Have you thought about how your menu concept (and prices) fit in with the surroundings? Having a brand that connects and resonates with your target market is as important as the quality of your food and the setting of your facilities. Spend time trying to do some research on how to connect your gastronomic concept with your ideal customer.
Visibility
Your visibility is important! Few restaurants manage to be successful as the best kept secrets in town. Check the foot traffic, car traffic and parking options in your area and if your ideal client would travel to where you are.
Now we come to one of the most critical points: Mathematics.
It is important to do a small financial run of several points, let's talk about those points step by step:
1. Your fixed costs
It is important that you know what the recurring expenses will be from month to month; wages, rent, services, inputs, etc. Having an idea of this we move on to the next point -
2. The price of your menu and the changes of table
If we reduce the number of seats, we have to increase the revenue per seat; either through more consumption per table or more table changes. Increasing the number of seats reduces the ticket price per table, but it may increase your kitchen costs.
3. Menu + furniture Your menu is directly connected to the number of tables you must have and the number of tickets you generate per table per day. The amount of tickets you sell per day is directly related to your furniture and setting!
Once we know all this, we can start designing a place that takes into consideration ALL these aspects, your menu, your brand, your ideal client, your location, everything!
Remember that many times this is a game of patience and that it is always important to have the right team of people who know how to tie everything together in a striking project that is sensitive to your daily operation.