Restaurant Business

How to open a restaurant

Although the fine fare and lively atmosphere of the restaurant culture seems like it would make for a fun and carefree career, the life of a restaurant owner can be turbulent and tiring. The success of a restaurant business rests on good organization, great interpersonal skills and lots of hard work. As the owner, you would be running the show—and must be prepared to jump in at any time, into any role, to keep things running smoothly.

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Opening a Restaurant

There are many resources that can teach you how to open a restaurant, but face-to-face conversation with a friendly and experienced restaurateur can be invaluable. The failure rate is high for new restaurant owners who are not ready for the road ahead; you will do well to prepare yourself for the red tape and costs hidden within restaurants and bars.

Unlike some other businesses, a restaurant needs to stand out in many ways. To set yourself apart from all of the restaurants around you, take your color choice, decorative style and staff uniforms into consideration; they will be just as important as the quality of your food and drink. Finding a restaurant business for sale can be a good alternative to starting from scratch, and it may need only minimal alterations to fit into your vision. When you have clarified your unique restaurant idea, found a suitable location and researched all the licensing and regulatory requirements you will need to legally operate your restaurant, you will be ready to construct a business plan.

Restaurant Business Plans

To begin, you can view a sample restaurant business plan online, which will act as a template for your own financial information and business intentions. The plan should introduce the name and style of your new restaurant and explain why you are an ideal candidate for restaurant ownership. You will then need to discuss your company's vision, the results of your market analysis and how your business will operate before you get to the issue of restaurant financing. Small business financing can be a tricky area—be professional and specific in your financial outline to increase your chances of securing a good loan.

Restaurant business plans can reveal problems and issues that new restaurateurs may have not considered, and it's good to discover these potential problems early, before they find themselves in the midst of a malfunctioning business. If you need some help resolving these problems, contact a restaurant consultant for business advice and recommendations on everything from décor to promotion. If plans and finances get too unwieldy, you might also consider teaming up with a business partner to share some of the work and responsibility.