How to select a location for your restaurant
When you are planning to open a restaurant, there are many important things which you have to decide. You have to create a full business plan ,write a menu ,apply for a loan but the first question which should come into your mind would be the location of your restaurant because the location of your restaurant is as important as the food and services of your restaurant.
The first question which you should think when deciding the location of your restaurant should be the population.If there are enough people in the area to support your business,you have chances of success. Enough people who pass by your restaurant to keep you busy.Whereas, if you also choose to select isolated place, customers may visit you on occasionally.
You should see through the eyes of the customers and ask yourself that which restaurant you visit the most when you are outside and ask from your friends.Do proper research before making a decision. If it still doesn't satisfy you, then you can take help by hiring professionals who have experience in this area.You must understand that visibility does matter, because people should know that your restaurant exist and they should stop by for dining at times.
Second main thing you have to take care would be that wherever you select your location,it must have a parking area because there should be enough space to accommodate many cars.As some people are lazy, and if they have to walk many miles to come to your restaurant, they will prefer to gosomewhere else which provides them this facility.
The place which you should decide for your restaurant must be large enough. It must have large available space to take care of your necessities like dry storage, office for paperwork and if you ever plan for renovation, you don't have to face problems. Size of your location matters, it must be large enough that if you want to make a lawn for sitting, it can provide you with this facility as well and it must have a waiting area.
When you are deciding a place for your restaurant, you should look for available resources near your location.When you are starting to build it, all the necessary raw material is available like the water, electricity, gas, soil etc.It must have a proper wiring ,alarm system, sprinkle system, restroom and many much more things. You must hire some professional code officer or inspector, professionals and seek proper help for them.
When you are finding a location for your restaurant, check other successful restaurants and their strategies and how they are successful.If you don't want competition then don't select a restaurant near your competitor and be the initiator but if you do want a competition then select your restaurant near your competitors place.
Don't be impulsive to decide the restaurant that this is the one you want as when you start sketching out the dining room,visit multiple sites and check them properly by making a proper business plan and what kind of things are required to you during making a business plan.If they all are available at that place or not, because patience is a virtue and pays you off.
Think about lease
Don't be shy to negotiate your restaurant's lease as many people are surprised to find out that they can haggle with prospective landlords about a lease not just for a monthly rent but also about who pays for things like heat, snow removal, lawn care and general maintenance.You should ask for concessions.Before you sign for a multi-year lease,you have to consider all the consequences that if your restaurant fails what you will do about it,so ask for a two or three years lease to start once you have established successful restaurant, you can sign a longer lease.
Necessary questions you should ask yourself
Ask multiple questions if you have selected a restaurant location.If you can find the qualified employees in the area in which the facility is located? whether you are selecting the right place for the target customers? Are the lease terms and rents favorable ? Do the local committee permits you to start your business at that location and you can get permission and the paper work done at time? Do you have a good management plan? Can supplier make deliveries conveniently at your location? Does it meets your layout requirements and much more similar criterias should be kept in mind before initiating your business.