Trying to find a good location to base your restaurant can cause you to feel a range of emotions.
On one hand, it’s a time of excitement and joy that allows you to put your imagination to work and put into practice plans certainly set you future career path.
On another, it’s almost impossible to avoid some form of chaos and worrying during this transitional period.
After all, you can’t just rush off and pick the first location you come across, can you now?
Being selective is crucial; every restaurant owner knows that location is everything.
Unless your restaurant has made a name for itself to the point that people are going to be willing to jump through hoops to eat there, I would say it’s best to take your time and pick a location that’s close to where the masses are.
But it’s not just the location you need to worry about, there are other factors that need to be taken into consideration:
- The dimensions of the new place define the size of your operation
Whenever in doubt, it’s better to go for something a bit larger than regretting the decision later on and stunting your business’ growth.
You should also check the local laws and regulations to see if there are any restrictions and limitations on how large or small the place should be.
- People like comfort and accessibility, so having a large parking lot is a plus
Here’s the thing – your potential customers love comfort.
So ideally, the place should have a comfortable parking lot with generous dimensions.
If there isn’t any, guess what will happen?
That’s right – they’ll simply drive off to another restaurant that has one.
Alternatively, there should be a public parking lot somewhere nearby they can use, so if you can’t get a restaurant with your won parking lot make sure to recommend them to one nearby.
If you really want to be nitpicking, aim for a location with plenty of public transport options, because a big demographic of those most likely to visit restaurants ( for example students ) probably don’t have access to private transport.
- See if there are any complimentary businesses in the vicinity
What a lot of business owners are doing is trying to avoid bumping into fierce competition, and that’s fine.
But here’s an even more powerful strategy: choose a location with businesses that aren’t directly competing with you, the kind that could potentially send a lot of customers your way (think movie theatres, shopping malls…)
Obviously, this will likely mean you’ll end up paying more for the location, but that’s how it goes; the more people in the area, the pricier it’s going to be but try to think about it as an investment, because this way you would be getting more walk in customers and would probably not have to spend as much on advertisement.
- Is it a turnkey location or will you need to renovate it first?
You might be thinking that the best place you can get is the one that doesn’t require remodelling or renovating, but remember that it would probably cost more, so the investment might be worth considering.
But if you can get an amazing deal, by all means – go for it!
However keep in mind the opposite scenario, as by picking a place that needs some renovation can come with underlying complications that could rack up a lot of cost in the long run.
In the end, it’s always a question of time vs. money; can you afford to wait for a little bit?
If so, you’ll likely be rewarded with being able to save some of your hard earned dough and put it to a great use by furthering some other aspect of your business (like online promotion).
Or even being able to register with food delivery platforms like Supermeal. It’s a completely a cost effective way of promoting your business; if you receive an order through a food delivery platform they only take a small percentage of the fee ( the lowest being at Supermeal.co.uk) in turn allowing you to keep more of your profit.
There we have it!
These are the main factors to take into consideration when choosing a new home for your restaurant business.
Do you agree or disagree with our list?
Would you add something to it?
Either way, get in touch with us and let us know!