In 2019 there were 33,160 full-service restaurants in the United States. When looking at fast food and chain restaurants, there were more than a million!
And while the restaurant industry is finally starting to recover from the pandemic, successfully opening a restaurant is not easy.
Keep reading to learn more about what you need to do when starting a new restaurant!
Business Plan and Secure Funding
The first step for any small business owner is to set up a business plan and use it to secure funding.
Your business plan should outline how much money you need, what your timelines are, and some possible locations.
Buy Equipment
Kitchen equipment is the first big thing you need to buy. You can save money on this equipment by looking out for a local restaurant that might be closing and selling their equipment at a discount.
Make sure you inspect the equipment and have a good understanding of how old it is and how often it was used. You don’t want to have to pay a fortune to fix it up or replace it in just a few months.
Set the Menu
The menu is the heart of the restaurant. You’ve got to spend a lot of time figuring out your permanent menu. Things to consider are the costs and availability of ingredients, how many people you might need to serve at once, and how intricate the dishes will get.
Remember to set the menu with the restaurant’s energy in mind. The food served in a fine dining establishment will look and cost something completely different from casual dining or fast food restaurants.
Part of setting your menu is pricing it. It’s in your best interest to price your meals competitively, so you reduce the chance of losing customers who would prefer something cheaper. Use resources like Menu Prices Today to compare what other restaurants are charging for their meals.
Name the Restaurant
The name is crucial, so pick wisely. Some name ideas, like naming the restaurant after yourself, can be viewed as tacky and off-putting to customers.
Other times, people choose a name that misleads people about what food the restaurant serves! Don’t choose an Italian name if you don’t serve Italian food.
Try to find a name that captures the energy of your restaurant, the food, and the atmosphere. You also want it to be memorable enough for marketing purposes.
Marketing
As with any form of business ownership, you’ve got to have a marketing plan to make sure you’re getting customers.
This could include discounts, especially for the first few weeks to get a reputation. It’s also a good idea to create a website and social media pages to build an audience. Encourage people to leave reviews.
Once you’ve generated enough buzz, those new customers will come rolling in, and you’ll find yourself with a successful new restaurant.
Successfully Open a New Restaurant
Opening a new restaurant is a big task, but it’s possible! Follow these steps and you should find success in your new venture.
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