Before you set up a restaurant there are a few things to keep in mind. The fact is that opening and setting up a restaurant business involves a lot of factors you need to consider. Many business people fail to realize the importance of preparation before the restaurant doors actually open.
1. Restaurant Type
What kind of restaurant will you be putting up? Are you planning to franchise a restaurant chain or will you be starting from scratch? The kind of restaurant you plant to start will determine a lot of other tasks you need to consider.
2. Your Qualifications
Will your restaurant require special training such as Japanese cooking styles or specific franchise training from the provider of the franchise? If you have managed a restaurant in the past but have no experience with franchising, for instance, you will need to be trained. Being certified of having a degree in the restaurant business is going to be a plus as well. Jumping into a brand new enterprise with no qualifications is a sure path to failure and making sure you have what it takes will give you greater chances of success.
3. Cha-Ching
Beginning a restaurant involves capital costs and you will need a source of finance. More specifically, you will need a minimum of 3 months’ worth of capital to run your business to cover up starting up costs plus unexpected expenditures that may pop up. Depending on the size of you restaurant and the market it caters to will determine the amount you need.
4. Get a Good Accountant
Get a good accountant who is experienced in the legal fees that are involved in restaurants. This way, you can make the correct decisions about what restaurant type you own such as whether you are opening it from scratch, from your home or through a franchise.
5. Having a Business Plan
Having a business plan before you begin your restaurant business is invaluable. With a business plan, you will have direction and an outline for your business. This will help you get business focus so that you don’t keep biting off more than you can chew as you slowly but surely build your business day by day.
6. Location, Location, Location
You’ve heard it once and you’ve heard it again but you can’t deny the fact that the reason many successful business persons believe that location is everything is because it is true. Finding the perfect location for your restaurant can almost guarantee your success.
7. Family and Friend Support
A successful restaurant is not going to be easy and having the support of family, friends and loved ones to encourage you when times are tough will be important. Joining a group of like-minded restaurateurs who can give you guidance and advice or just to talk to about ideas is something that you need to have.
This article is written by Jenny exclusively for this site. She is also writing articles for www.bojangles-franchise.com sets up Bojangels fast food franchises.
Important Things To Take Into Consideration Before Setting Up A Restaurant
