well, our location is central in our city, just off the main street. there's a lot of competition but our concept is original (compared to the local market). our budget is relatively small, but we managed to not lose control of the business by selling ... our concern comes from the fact that we've a long history of nonprofit work and are SO eager to make it in business - as nonprofit doesn't pay our child's kindergarten and all... we're energetic, love to work and enjoy working with people. what do you think????
2006-08-21 08:41:47 · 17 answers · asked by joelle 2 in Business & Finance ➔ Small Business
Starting a restaurant with "an original concept" is risky indeed! I would do some market research before I invested. Find a restaurant in the country that is similiar to the idea you are working on and compare the demographics of their area to the area that you plan to build in.
Make a business plan: figure out how many restaurants there are within 4 blocks of your planned site and how many meals each of them is serving per day. Take the average of all of them and cut it in half. That is a good idea of how many customers you can expect when you open. After opening people will come back (if they like your idea) and your business will grow. Average growth for a restaurant is about 7-8% per month for the first year and then it levels off.
Any novel idea is risky....that is why McDonalds keeps going. The food is exactly the same in every location...it may not be good food but it is exactly what the customer expects it to be...no surprises!
Good luck!
2006-08-21 08:55:55 · answer #1 · answered by newsgirlinos2 5 · 0⤊ 0⤋
Although I appreciate your reasons, I can tell you that... as a customer... if the food is bad and the service is lousy, then I won't be back because your nonprofit work means nothing to me as a customer.
Just remember, 98 percent of ALL restaurants never make the first year... that was a fact tossed out by Gordon Ramsey in one of his shows.
To be successful, you need good food, service and location but you also need enough money to pay the expenses of setting up the restaurant and paying all of your bills for a year because the main reason restaurants... and all small, start up businesses, for that matter, fail... is UNDERFUNDING.
I really wish you luck. If I lived close to you, which I don't, I'd even come and cook for you for free a few days a week.
2006-08-21 15:48:48 · answer #2 · answered by Anonymous · 0⤊ 2⤋
Do your marketing research on the area and eating habits of the populace.
Don't hire any help for at least the first six months of business. Do all the work yourself and see how it goes.
Do have a "bail-out" plan if things don't work out! Good luck!
(I am basing my advice on a small cafe my parents owned on the main street of a medium sized town in Indiana. Their concept was original, the competition fierce and budget small. They did all the work themselves and folded within two years due to lack of support from the community who all rushed to "fast food joints."
2006-08-21 15:53:22 · answer #3 · answered by crowbird_52 6 · 0⤊ 0⤋
One way to grow your clientele is offer a "open house". Pass out fliers inviting people to your restaurant to try a meal. Offer some incentive and then be sure that they have best experience they ever had. You don't need to give away the house to entice people to come to your restaurant. Be sure the service is good and the food is hot.
2006-08-21 15:51:23 · answer #4 · answered by sherimahn 1 · 0⤊ 0⤋
Repeat business.......Customer service is key here.
Your reputation, customer service should be part of your mission/goals.
Also, as others have said "advertise". Make sure you have an advertising budge each year. A lot of business fail to realize how import it is to advertise. Even when business is good.
Oh....it does not hurt to have a good product that consumers want.
2006-08-21 15:59:20 · answer #5 · answered by John 2 · 0⤊ 0⤋
Well as you probably already know it's all about LOCATION, LOCATION, LOCATION....and more recently...CONCEPT!
If your restaurant has a new but hip concept, it'll do great!!!
You just have to be really good at picking your target market and delivering what they're looking for!
Good luck!!
2006-08-21 15:49:48 · answer #6 · answered by DEATH 7 · 0⤊ 1⤋
there is no way to be sure you will have enough clients. You NEED to advertise!! Get the word out about your buisness. You need to find a way to lure customers into your buisness. Word of mouth is the best advertisement!!
Good Luck!!
2006-08-21 15:51:21 · answer #7 · answered by Maimee 5 · 0⤊ 0⤋
people have an uncontrollable urge to return to a place that satisfied a human need , hunger. if the food is good they will return. return customers is the only way a restaurant will succeed
2006-08-21 15:52:35 · answer #8 · answered by confused 2 · 0⤊ 0⤋
As the others said, good service, good food and good location.. let people know where you are.. advertise, keep track of every cent that goes in and every cent that goes out, have a business plan and stick to it.
don't overdo your plan... and the better the service, the better chance you have of succeeding.
2006-08-21 15:51:13 · answer #9 · answered by chuckufarley2a 6 · 0⤊ 1⤋
You already have one thing helping you - originality! Now you need a clean establishment, good food, and good service. The clientele will follow!
2006-08-21 15:49:38 · answer #10 · answered by Okkieneko 4 · 1⤊ 0⤋