Do you love food or rather have a dream to one day own a successful restaurant? You may have a made a great decision because food business, more specifically fast-food business have produced some of the popular brands in the world such as KFC, McDonald’s and so forth.
One thing you must understand, take it from yourself for example, people eat every day, they eat everything so with a long term business plan and good strategy, your restaurant will increasingly gain customers each and every day. Remember there’s always room available for new comers in every market of any business.
Never believe in quick money, every successful business out there have a long history of ups and downs in order to reach where they are today. With your restaurant idea, please also understand that it’s going to require a bit of time investment, between three months to a year. During these time, you will learn, understand customers, implement new strategies and most importantly engaging with your customers.
Basic steps to follow when opening a restaurant
1. Unique concept – You need to decide on the style and type of restaurant you wish your business to be like. Maybe you want to focus solely on break-fast dishes or become the most popular dinner makers in the city or rather fast-food services, you need to carefully make this choice. Do proper research and find that gap which will separate from the rest of the existing restaurants owners.
2. Restaurant name – naming your business is the most significant and one of the defining steps in your quest to starting a restaurant. At this stage, you need to come up with a flashy name that means something of course. It is very important that your name would be related to food services, you may use your first name plus something to do with food, for example, “Jimmy’s Fast Food”.
3. Location – Do a thorough investigations about the location of your business because may make or break your restaurant idea. Choosing the right location guarantees you regular customers, new customers and great revenue. Select location with a lot of traffic, mostly foot traffic unless if you’re also going to have a drive through service.
4. Business plan – Putting together a plan is very important as this will serve as guide to where you want to go with the restaurant. The plan will also help you attract investors interested in your business. Clearly include vision and goals of your restaurant, your marketing strategies, financial plans and so on.
5. Get funding or capital – Once completed and happy with the restaurant plan, it’s time to get financing. If you currently don’t have capital to kick start your business, then it might be a good idea to approach financial institutions such as banks or small business funders out there to help with funds. This step is very difficult, which is why you need to bring your a-game when doing presentations.
6. Design the place – As soon as you get funded, start designing your restaurant to your specifications, add nice kitchens, rest rooms, waiting area and so forth. Then when you’re done, start designing and creating your menu, find a copywriter or come up with proper wording for your menu as this will play a vital role in your business.
7. Engage with customers – When you have everything in order, stock in the shop and all staff members trained, it’s time to engage with your customers. Organise a grand opening for your restaurant. Create social media fan pages and promote your menus, locations and happy customers. You might as well want to have a website so that people can read menus before coming to your business, they can send feedback about the experience at your restaurant and so on.