How to start a successful restaurant in 2021
Starting any kind of business will not always be easy. There will be problems to expect that can be easily dealt with if you have a plan already in place, and there will be the unexpected problems that offer more of a challenge. Launching a restaurant in 2021 is not the same as launching one 30 years ago. One of the first things to consider is starting a website for your restaurant as quickly as possible, because the importance of having an online presence, both for online orders and for information and bookings, is paramount particularly in the early stages of establishment. We are going to look at some of the important pillars that are needed to provide solid structure for starting a successful restaurant.
- Getting online, quickly!
As mentioned earlier, exposure to the market is critical for any business, but particularly for a restaurant as they notoriously thrive on public opinion. If you are not a computer wizz then it would be advisable to seek help in order to look as professional as possible; this can be done quickly and effectively using a restaurant website builder. Being online can increase turnover by a tremendous amount if you have a steady order process in place. Additionally, it’s a great way to market your promotions and provide information – making it easier on your restaurant floor staff.
- Knowing something about cuisine
You don’t need a masters degree to start a restaurant, but what you do need to know is what you are selling. When going into business, you should have good knowledge of what you are selling. If it is your dream to do something, but you are not really sure, then dedicate some time into learning. The more time you put in, the more reward you should get.
- If I like it, then everyone will. wrong!
The food you serve is very important and needs lots of consideration. Often, restaurant owners make the mistake of just serving what they themselves like; but this is wrong. Have a look at your surroundings and provide food that the market is asking for.
- Know your market. Get a feel for your audience.
Market research is easier now than ever thanks to almost everybody having quick access to the internet. Online surveys can be conducted, as well as internet market research for your particular style of restaurant.
Building a focus group is an easy and cost-effective way of getting feedback. Try having a few friends and family around to try your cuisine and give you solid, honest and critical feedback.
- Where can I get my hands on some cash?
There are a few ways to finance a restaurant. One of the most commercial ways would be to get a commercial loan from a bank; but there are alternatives. Borrowing money from friends, taking on business partners, liquidating your current assets. Whatever your decision, you have to weigh up the pros and cons and consider not only today, but the future too. Don’t borrow too much, but don’t leave yourself short. Look at repayment plans and make sure that the repayments are realistic.
- How much cash do I need to start a restaurant?
How long is a piece of string? There are so many factors to consider when wondering about startup costs. There will be a minimum that you have to pay, but there is no maximum. Consider:
- location/rent
- size of premises
- staff numbers
- cuisine – the food you sell will alter the budget for ingredients
These are just a few of the basics before even looking into petty cash, insurance, salaries and maintenance.
- Putting plans into writing
Plan. Organise. Deliver. Critical for any operation to succeed. You can make a business plan as simple or as complex as you feel necessary. Look at your goals and decide how complex it needs to be. Seek help from an expert if in any doubt.
Having a brand is essential too. If you are in this for the long-term then branding will follow you wherever you go.
- Will I get away with having no licensing?
This is an obvious consideration. Western societies carry strict licenses when serving food to the public. A quick phone call to the appropriate governing body will clear up any doubt. Correct licensing can be the difference between being open and being closed.
- Location, location, location?
A very important consideration when deciding to open a restaurant. Foot traffic has a massive influence on building revenue. Take a little time to study an area and watch the amount of people who pass by at key times of the day.
Location is also important when considering those who find you online, and want to come to the restaurant. If you choose to be in the middle of nowhere, then make sure to include clear directions on your website.
If it is truly your dream to own a restaurant, then you may have to consider moving away if the finances aren’t right. Don’t be forced into something that you cannot afford, as that will be extra pressure on an already high-pressure situation.