The restaurant business is not for the weak at heart. You must have passion and dedication — and a solid business plan. By keeping your operations organized you'll save time and money, and hopefully keep your doors open for years to come. If you're thinking about opening a restaurant, take these steps:
- Determine the type of restaurant you will own.
- Write a business plan.
- Have your paperwork in order.
Choosing a restaurant concept
The list of restaurant types is practically endless. Do you want to open a franchise, start from the ground up or purchase an existing restaurant and make it your own?
Put together a road map
Every business needs a business plan. In the restaurant industry, a comprehensive business plan will keep you focused on the fundamentals: the market opportunity, the financials and how the operation will run. It may also make the difference between getting a business loan and being turned down.
Hire a consultant
If you've never owned a business before, opening a restaurant may be more challenging than you expect. Investing in a consulting firm could help keep your doors open and save money down the road.
Organize and manage operations
Save time and money by keeping your business operations in order and expertly managed. There are a variety of solutions available to the restaurant owner. Find one that works best for your business and use it. The more organized you are, the better your chance of succeeding.
Find the right chef
Choosing the right chef could be the most important decision you will make when starting your restaurant. Depending on your menu, you will want somebody who can meet the expectations of your customers as well as your expectations of how your kitchen will be managed. Take time on this decision and interview a selection of people. Make sure your chef is both an artist and a professional.