How to Start a Successful New Restaurant

Many people dream of owning their own restaurants, whether it is fast food, coffee shops or gourmet. In reality, many people fail to sustain their restaurants and most of them die during their first year of operation. This is due to the lack of preparation and dedication on the part of the owner. Many people jump into the industry too fast without really weighing the pro’s and con’s of the project or having the necessary expertise.

However, there is a way to lessen the risk that is associated with new ventures such as restaurants. Preventive planning and proper management are keys towards success but there are also small things which count in the whole process of owning a restaurant.

Every business needs a business plan. Business plans are meant to lay down the different conditions and characteristics that should be inherent in the business. The availability of a good business plan which has been carefully formulated is a step towards success. You will find information about creating a business plan in an upcoming chapter, however, sone key point to consider is:

Crystal clear description of the concept of the restaurant
The objective and the general description of the concept of the restaurant need to be specific. This will give a general overview of what the restaurant intends to do and for whom it intends to do it. The concept of the restaurant needs to be established because it is the core idea by which everything else will follow.

Table of Contents
……….What do you know about running a restaurant?
……….What kind of restaurant do you want to own?
……….How will you design your restaurant?
……….Startup costs that can’t be overlooked
……….How to advertise the restaurant
……….Market analysis
……….Cash, check or charge?
……….How to write your menu
……….How to select the equipment and furnishings
……….Hiring your staff
……….Preparing a business and financial plan
……….Should you borrow?
……….Location, location, location
……….Restaurant Industry Long-Term Future