Four Steps to Take Before Opening a Restaurant

The corner diner, a local spot, the hometown hangout—communities and food go hand-in-hand like bread and butter all across the country. If food is your passion and you have always dreamed of opening your own gathering spot now may be the perfect time to take the leap. Consider these four tips before launching your own culinary venture.

Dream Big

Start the process by brainstorming. Allow yourself to dream big and enjoy broad thinking. What type of food is your passion? Do you desire a casual gathering place, or an upscale location perfect for special celebrations? Jot down all ideas to document the thinking process.

Business Plan and Budget

After narrowing down your ideas, get realistic about how much capital you’d like to invest from the get-go. How much money are you willing to spend on rent, restaurant design, payroll, and other expenses? Be realistic with your budget and account for unexpected expenses that may arise along the way. Craft a detailed business plan to keep your dream on track along the way.

Location

With a solid budget, you can pinpoint a specific location. Explore places in your city and neighboring areas that would be a good fit for your target clientele, business hours, and overall restaurant atmosphere. For example, if your goal is a family-friendly restaurant, perhaps a corner Main Street location or prime square footage in your downtown is a smart spot to attract and retain hungry customers. Consider real estate options that have kitchens on-site or other hot food display equipment installed.

Menu

Of course, the food must be the spotlight of your future restaurant! If you plan to develop the menu yourself work with local food experts and frequent diners to develop a niche menu that will suit the masses while still being 100% unique.

Congrats on the new culinary dream!