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Aspects you should consider to start a restaurant

Every day dozens of restaurants are open to the public service. If you are thinking about opening a restaurant it can be very daunting when you are faced with the great challenges of starting a business of this type.

If you analyze the statistics you will see that generally, more than 60% of companies fail in their first year.

Of course, none of us want to be part of that statistic. We don’t want to discourage you into opening the restaurant of your dreams; However, this serves to open your eyes to take into account some of the advice we give you.

The main factor that contributes to the failure of companies is the lack of planning. In other words, when you lack solid planning, your restaurant plan can fail before it’s even started.

As you will see in this blog, planning is the most important part, you should even complete it before worrying about money. Planning involves anticipating potential roadblocks, analyzing minute details, and preparing to take on the responsibility of managing and operating a restaurant.

Have the right reasons

We all like money. Money is both a necessity and a luxury. Also, we as humans love time. Do you often hear yourself say “I wish I had more time”? We know yes!

Some may think that starting their own business will offer them more money and time. Is this true? The answer is, not necessarily!

The truth is that money and time do not come automatically. In fact, owning your own restaurant would require even more work. So if money, time, or another force motivates you to start a restaurant, maybe you should reconsider. If you don’t have passion, you will soon face frustration.

Ask yourself, will I love what I will do? Am I willing to put in the effort and take the time to make my restaurant successful? Will I be motivated to wake up in the morning and work hard? If the answer to any of these questions is no or maybe, stop now and don’t waste your energy.

If you are going to open a restaurant it is because you are passionate about food, the food industry, and customer service.

If you have these reasons very clear and are willing to work hard, you have already taken the first step in a solid way.

Your target market

A restaurant has a very specific clientele. Who are you looking to appeal to? There are different generations, different preferences, and different points of view.

Remember that in the restaurant business there is no one-size-fits-all solution. You have to choose your target market before even thinking about the name, let alone your restaurant yet. Is it a family-style or is it more for adults, kids, or teens? You can think about what a teenager would like, and how it differs from a child, or how a child would differ from an adult. What you can consider is who would you see in your ideal restaurant?

The type of food

Once you have identified your ideal clientele, you must determine the type of food. What kind of food would your ideal clientele generally like? If you are a chef, what is the type of food that you are passionate about and like to prepare? Is this food that you like to prepare the one that your ideal client would love?

By answering these questions, it will help you define more specifically the nature and type of restaurant that you can have and you will have the bases to start your business plan

The business plan

It is time to start a business plan. It’s important to take the time to get it right and solid. This is perhaps the part of your business that requires the most patience and time. All the elements that you analyze here will save you trouble once you start-up and first of all give you an idea of ​​what to expect. This is where the vision of your restaurant is born and created.

It is time to start brainstorming. This is where all your ideas can come together in one concept of excellence. What things should you think about? What is the atmosphere you plan to create? Which is the topic? What are the hooks that attract customers? How does your restaurant differ from other similar restaurants? Why do customers like your restaurant? Where is the restaurant location and how will that add to the restaurant experience?

These are some of the fundamental parts of a business plan that you should think about.

Once you have clear ideas that define the concept of your restaurant, you should go on to translate them all in black and white in your business plan. This should include at least the following points:

  • Executive Summary
  • Company’s description
  • Products and services
  • Market analysis
  • Strategy and implementation
  • Equipment and operation
  • Organization and management team
  • Financial plan and projections.

A great ally in the equipment part is your restaurant equipment supplier. Many of them have helped hundreds of restaurants develop an optimal facility plan to meet your restaurant’s present and future needs. He can help you design the important areas of your restaurant that you should plan in order to more accurately determine the costs of each. These are:

  • Cleaning/washing (where do you wash dishes and utensils)
  • Storage (where you store, refrigerate, and freeze food)
  • Food preparation (where you prepare food)
  • Kitchen (where you cook food)
  • Service to diners (where the food is dispatched and consumed)

Reach out to your Torrey executive for more details on how they can help you solidify your restaurant business plan. He is the expert who can advise you on the type of equipment that best adapts to the dynamics of your restaurant and gives you a good operation for many years.