4 Things to Consider When Opening a Restaurant
Many people dream of opening their own restaurant, but if you’re not careful, your grand vision can turn into something out of Kitchen Nightmares. Use these four tips to help you plan for an establishment that beats the statistics and turns into a success.
1. Choose Your Location
There’s no “one size fits all” when it comes to restaurant destinations, so you’ll need to consider a few things before hanging up your shingle. For example, what kind of clientele are you hoping to attract? Casual families are more likely to walk strip malls than high-class food critics. Are you tucked into a mountain that provides gorgeous balcony views? Make sure that you’re paving the way and hanging plenty of signs so that your patrons don’t drive off a cliff.
2. Mind Your Finances
You’re probably aware that most businesses fail within their first year, but you might not have known that the reason is usually money-related. Give yourself plenty of wiggle room when it comes to financing your restaurant. Don’t expect to make any real cash for the first 12-24 months, and have lots of capital stored away to bankroll unexpected developments and necessities. You’ll be glad for this level of flexibility later.
3. Get Certified
You’ll need a liquor license if you serve alcoholic drinks. You’ll need zoning permissions if you’re building your real estate from scratch. You might also require a business license just to open your doors. All of these permissions and certifications will depend on your location, so look up everything based on your area. For example, if you’re in the Lone Star State, make sure that you’re obtaining a liquor license Dallas TX.
4. Hire Your Staff
Good employees can make or break a restaurant, so don’t let them become an afterthought in your planning. You’ll need chefs, servers, hostesses, bus boys, line cooks and many other types of workers to keep your place in tip-top shape. Go ahead and start crunching the numbers and putting out the “help wanted” signs before you’re actually ready to hire anyone; this will give you plenty of time to make decisions before opening night.
These are just a few things to keep in mind as you open your own restaurant. From big decisions to tiny details, you’ll want to consider all factors involved in the process before moving forward. Good luck!