Welcome back once again for the third installment of How to Start a Restaurant. You can find Part I and Part II by click the links provided. If you are interested in starting your own restaurant I would definitely take a look at the information in those articles to get a better sense of what you want to do with your new business if you have decided already or are having trouble coming up with ideas. This new installment in the series will focus on choosing a location for your restaurant. Some people have differing views on this subject and how location can affect your business and the success of the restaurant as a whole. Enjoy the article and be sure to share on your social networks.
The location of your restaurant can play a major role in the success of your restaurant. There are a ton of things to consider when opening up a restaurant and looking into location for your facility. Variables like access to potential customers, proximity to other restaurants, parking options for customers, history of the site, lease terms, and much more can change the landscape of your blossoming business. Let’s go through a few examples to give you some more concrete ideas to consider when looking into a location for your restaurant.
Is the location of your new restaurant in a friendly customer location, or is it in the middle of nowhere? What is the population size of the immediate area you will opening in? If the size of the population is too small your restaurant will suffer due to lack of clientele and attractiveness for new customers to visit. Consider how people regularly get to your restaurant as well and determine if you’re more likely to get more foot traffic than commuters with cars.
Proximity to Other Restaurants:
Is the site you’re considering too close to other restaurants or restaurants serving the same types of food? If so it might be a good idea to consider looking at a new location so as not to inhibit your own growth or decrease your chances of success. If there is already a popular restaurant in the area you want its possible that you might fail due to the popularity and loyalty to the existing restaurant, but there’s also the possibility that you could poach the other restaurant’s customers.
As I mentioned earlier you need to know the most popular way that people access your restaurant. Are people driving and parking, walking there, or taking a bus or other transportation to come eat the delicious food you’re serving? If they’re driving, you need to make sure you have appropriate sized parking options so people don’t have to park elsewhere or on the street. Appearances are key and having appropriate facilities for your guests is vital to keep your guests coming back frequently.
History of the Site:
Before signing a lease or ownership documents for your new restaurant site ask for all the documentation you can regarding previous tenants, what the site means to the community, and any issues that site may have. These documents can help you avoid potential pitfalls, money troubles, and overall be more well-informed about the area you want to work in. Better to ask before signing a legally binding document.
Before signing anything with your new restaurant location, look at everything on the lease. You may have found your ideal sport but the agreements on the lease may be too outlandish and unacceptable. If there is a problem try to negotiate or at least ask about it. Be a well-versed with the lease as you possibly can be and don’t be afraid to consult a legal professional if you suspect something fishy is going on.