According to a survey from Michigan State University and Cornell University, one of four restaurants will close in the first year. When opening a restaurant, it is important to consider factors such as lack of marketing, poor location or many competitors.
Here are some tips that can help you successfully open your own restaurant.
1. Define Your Audience
To be able to open a successful restaurant, you should first and foremost be absolutely sure which target group you want to reach. It’s not good to be too broad. It is better that you try to reach a specific part of the market than you do to attract many customers without being able to make them satisfied.
Before you can open a restaurant, you must decide which socio-economic strata your future customers belong to. What characterizes their consumption patterns? What are they working on? What interests do they have? If you decide to open a gastronomic restaurant, your customers must have a lot of purchasing power. If, on the other hand, you want to open a traditional restaurant that attracts with a set menu, your target group will have a smaller budget.
Don’t forget that your clientele will change. Once opened, the restaurant needs to be changed in step with them and adapted to their needs.
2. Choose the best mode
It is important to keep the situation in mind when opening a restaurant. A good location can have a crucial impact on how successful your project will be. The optimal location for a restaurant is in a lively area that is easy to reach. You will be able to attract more customers if there is parking or a public transport stop near the restaurant.
Don’t forget to keep your audience in mind when choosing a location. A restaurant located in a central and prosperous area will mainly attract tourists as they are willing to pay more to enjoy the holiday. A restaurant that is instead located in an area with many offices will attract office workers who will not be able to enjoy a gastronomic experience every day.
You should choose a location that suits the needs and budget of your restaurant. Avoid opening a restaurant in the middle of a shopping area or where the market is saturated.
3. Analyze Your Competitors
And distinguish yourself from them. If your restaurant is unique, consumers will choose to eat there instead of elsewhere.
Give customers the best possible service and keep in mind that they are looking for something different. Give them added value, be inventive. You can choose to specialize in a traditional kitchen from a particular country or open a themed restaurant. Whatever you choose to do, be sure to give your customers a memorable experience as this will make you stand out among your competitors.
Nowadays, good food is not enough to get regular customers. Consumers have higher demands and are looking for something different. Fulfill expectations and offer something different from your competitors!
In summary, it is important to have a good chef at the restaurant but do not forget that the food you offer and the location should be adapted to the needs of the consumers.
Do you have experience in opening a successful restaurant? If so, tell us about this!