Site selection process in restaurant business

Site selection process in restaurant business

Picking out the perfect location for your restaurant is critical to the success of your business venture. You must select a location that customers can see and can get to easily. Here we have given some suggestions to help the potential restauranteurs in this crucial step in the business start up process.

Competition and Other Businesses:

Before deciding on a restaurant location one of the crucial thing you must consider is, the other businesses that are in the area. Really lots of competition is not a bad thing as it means that the market is healthy and can support a lot of restaurants. But you want to avoid the competition that you will have nearby your restaurant as much as you can. At least choose a restaurant concept that is unique in the area so that you have few direct competitors. Secondly, it is good that if you have complementary businesses to your business in that site. For example, if there is a movie theater across the road from your restaurant then you may get good business from movie goers as they come in to dine before watching a film.

Local zoning regulations:

One of the important thing to check out when you are selecting a location for a restaurant is exactly what uses the building is permitted to be used for under the local zoning scheme.

A Trade Off Between Restaurant Location and Rent:

It is necessary that, a restaurant should be in a prime location which has good exposure and good nearby traffic flows. But such locations are come at a higher price and you have to pay high rent for such sites. A good alternative may be having a less prominent location such as down a side lane or on the second or third floor of a building. However you need to compensate for a hapless location by having a top notch marketing plan as well as food and service that encourages customers to return.

Operation Size:

You must have a deep knowledge in the size of the restaurant operation that you are going to establish. One of the basic requirements for a site is, it must be large enough for you to set up a restaurant of your desired size and concept. Health and safety laws will prescribe how many people can occupy the building so you must find out about these requirements before you start looking at locations. You may end up deciding that the site you are going to buy was perfect is too small for the clientele you need to attract.

Accessibility:

You may notice that restaurants are usually located in areas which are having good accessibility and close to business districts and residential areas. Being accessible will ensure more customers for your business. Just stand outside of your desired site, count vehicle and foot traffic flows and compare them with other locations that you are considering. But at times the unusual location of a restaurant can become a selling point. Keep in mind that under the right circumstances people will think of the features such as a beach view or mountain scenery over convenience and accessibility.

Lease or Buy:

You have to decide which would be the best move, whether leasing or buying premises for your restaurant. Both options have their own pros and cons. Most restauranteurs start out leasing and preserve their capital for start-up costs and business growth rather than investing in property at the same time. Discuss with building owners and try to get an idea of how flexible they are going to be on the terms of a lease. Reaching an agreement over a lease might be a lengthy process so it helps if you can deal with building owners that you can communicate well with. The should be open to some negotiation and discussion.

Area Demographics and Market Research:

Think about what kind of neighborhood your proposed restaurant site is located within. Then just imagine which kind of restaurant would be suitable for the surrounding residents. Take a look at the demographics of the site to find out the age, ethnic background and socio-economic status of the local population.

Keep in mind that location is one of the crucial factor for success in your Restaurant business. Consider the above suggestions while you work through the selection process. The building that you choose should not only be in a prominent location but it should also be practical and functional to allow your restaurant to run smoothly.

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