Basic checklist for opening a new restaurant
Capital
Opening a restaurant is expensive as a restaurant demands a large amount of capital. Options such as commercial banks, credit unions and online lenders can be contacted to acquire restaurant relevant loans.
Business Plan
There's no point in opening a restaurant without a clear cut, thorough and intricately detailed business plan. It will be used as a guide in early stage as well as to get funds from investors to generate restaurant capital.
Licenses & Permits
Some licenses are needed for every restaurant such as Business License, while others are needed based on the concept like Liquor License. Moreover, every region have unique licensing laws in relation to food, music, health etc.
Location
Two choices are there when restaurant location is thought of, either buy an existing restaurant or construct a restaurant from scratch. It’s important that the location is in alignment with the concept.
Unique Concept
Choose a concept that is unique and one-of-e-kind in the area. This allows the owner to go for stronger target marketing and choose a more fitting menu selection.
Menu
There is a lot that goes into crafting a menu, such as F&B assortment, pricing, design and item placement. One will need a menu showcasing all the food items the restaurant is going to serve along with the need to price the menu well.
"GOAT" Staff
Every restaurant needs the “greatest of all time” staff. Since it is an add-on of the restaurant itself, it's definitely one of the most important element of any restaurant business.
POS System
To be successful, a restaurant needs a dependable and strong POS system that computes sales, controls transactions, inspects labour and helps owner work in peace. It's a major but worthwhile investment.
Marketing Plan
Opening a restaurant requires a marketing plan to help you connect with potential customers. Unique concept, great staff, tasty food are of no use if people around don’t know about it, and that’s where marketing plan comes into action.