Mario Villegas - Insufficient Capital : Account on your business plan for one year of rent and marketing. Many owners can greatly underestimate how much it costs to not just open a restaurant but to keep it running during the first few crucial months and years. Many restaurants scramble to find their ground in the first year while the owner makes necessary changes in the menu or staff and customers find out about the place. To minimize your risk, plan to have several months of funding to cover the costs of salaries, food and bills. It can take a while to simply break even with a new restaurant, much less make a profit.
Poor Marketing: Restaurants should have a marketing plan and budget in place for the period before to opening and after opening. Before opening, hire a web-development firm to design your website, logo and a PR firm to produce a consistence stories for the local press and to manage and monitor social media outlets. It’s foolish to think that word of mouth will be sufficient when you open the door of your business.
Don’t be misled by the early crowd coming to the restaurant. This is only half the battle. If you do not do have a good service when guests first come in, they won’t come back; if you’re not consistent, they’ll leave; and if you do not provide a total experience they will find it somewhere else.
Location : If you are starting out in the restaurant business, location is one of the most important ingredients to success. Although location is important, it can also work against you. Selecting a location in a high foot traffic means the rent will likely be higher and the competition stiffer. Select your location based upon the type of restaurant and concept you want to run and price the menu accordingly to the market. Also leverage a good commercial real estate firm to assist you with the selection of the location.
Mario Villegas Seattle - A professional management consultant, Mario Villegas Seattle is the owner of the Twilium Management Group, Seattle, a group which is sourced by full service restaurants, hospitality companies and food services.
Poor Marketing: Restaurants should have a marketing plan and budget in place for the period before to opening and after opening. Before opening, hire a web-development firm to design your website, logo and a PR firm to produce a consistence stories for the local press and to manage and monitor social media outlets. It’s foolish to think that word of mouth will be sufficient when you open the door of your business.
Don’t be misled by the early crowd coming to the restaurant. This is only half the battle. If you do not do have a good service when guests first come in, they won’t come back; if you’re not consistent, they’ll leave; and if you do not provide a total experience they will find it somewhere else.
Location : If you are starting out in the restaurant business, location is one of the most important ingredients to success. Although location is important, it can also work against you. Selecting a location in a high foot traffic means the rent will likely be higher and the competition stiffer. Select your location based upon the type of restaurant and concept you want to run and price the menu accordingly to the market. Also leverage a good commercial real estate firm to assist you with the selection of the location.
Mario Villegas Seattle - A professional management consultant, Mario Villegas Seattle is the owner of the Twilium Management Group, Seattle, a group which is sourced by full service restaurants, hospitality companies and food services.
No comments:
Post a Comment