How to Start Your Restaurant Business

You may have a lot of ideas in your head, but you need to write them down to make them come to life.
  • Figure out your concept – What does your restaurant offer that no other does? What kinds of foods will you serve? What will set you apart from the rest?
  • Think about your customer – What kind of customer do you want to serve in your restaurant? What kind of crowds do you want to see in your place on a Friday or Saturday night?
  • Location – Where are you located and can you get a restaurant space there?
  • Your name – Pick a name for your restaurant
Writing out an actual business plan
Many corporations write out a business plan before they even open their doors. And they still refine it as their business needs change and grow. To help you get off the ground, you should too. This plan should include:
  • How much money you need to get started
  • The overall goal of your business
  • Your expected growth in numbers for the next five years
  • Your equipment needs
  • Your location needs
  • Your staffing requirements
  • Your menu
When you have written out your business plan, you will have a clear picture of the things that you want to do with your restaurant. This will also come in handy when you are further down the road and need to make big decisions about your restaurant. If those decisions don’t fall in line with your business plan, you shouldn’t agree to them.
Handling the finances
Since you probably don’t have a pile of money sitting around just waiting to be invested in your restaurant, you need to come up with these funds on your own. There are some ways to do this:
  • Get a loan from the bank
  • Get a personal loan from a family member or friends
  • Look into running a franchise
Each of these ways has its advantages and disadvantages. But what you will want to remember is that while you ought to spend a lot of money in the beginning to make a good impression, it’s better to be more reserved at this point to conserve those finances for when you need them – after the buzz has worn off.
Hiring the right people
Since you can’t run a restaurant on your own, you need to make sure you’re hiring competent and friendly staff. You can place ads in newspapers or have an open hiring fair before your doors open. Be sure to have consistent training manuals to ensure that all employees are following the same rules and every customer is getting a similar experience.
This is just the top of the iceberg when it comes to starting a business, but it’s certainly a good start.
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