Owning and running a hotel business can be a rewarding but challenging affair. Managing a restaurant business requires a financial, mental, and emotional investment that is not always easy for first-time entrepreneurs. Market studies reveal that about 60% of new restaurant businesses fail within the first year of launching.
Furthermore, the food distribution constraints and market uncertainties arising from the coronavirus pandemic have made it even more difficult for inexperienced restaurant managers to excel in the industry. Below is our ultimate “opening a restaurant checklist” to ensure you start on the right foot and realize your dream of running a successful food joint.
The opening a restaurant checklist defines the items you need to launch and run your new food serving joint successfully. The checklist includes a broad range of ideas and items that vary depending on the type of restaurant you open and the nature of customer service you intend to achieve.
A typical Dine In Family Style Restaurant rochester hills mi opening checklist should include the following:
- Detailed market study
- Licensing requirements
- Reliable restaurant financing
- Hiring the appropriate staff
Understanding the restaurant sector
Aspiring restaurant owners and managers should conduct in-depth market studies to understand the hotel sector and its key players. Focus on your locality to identify successful restaurant operators and follow in their footsteps. If you have a preferred location to launch your food outlet, it helps to consider the market size and whether there are enough clients to sustain your business.
Determine if there are peak and off-peak seasons in your chosen area of operation. Find out what food groups are popular in your locality and how much consumers are willing to pay.
Understand licensing requirements
Like any other business, opening a restaurant requires licenses and other permits. Business permits vary from state to state, so it helps to confirm the legal requirements from your local business administration office. Standard permits may include:
- Business operating license
- Health permits to ensure compliance with food safety standards
- Liquor license for restaurants that serve alcoholic beverages
- Signage licensing for advertising
Restaurant financing
You will need financial resources to actualize your restaurant design, layout, and marketing plans. Without sufficient financing, your business may struggle to maintain consistent operations. You will need to acquire kitchen equipment, develop your restaurant layout, and advertise to boost brand awareness.
A good business plan instills confidence in banks and lenders, making accessing funds for your business set-up and marketing campaigns easier. Alternatively, you can provide personal property as collateral when seeking restaurant financing.
Hiring competent staff
The people you hire and work with can make or break your restaurant’s operation. Unfortunately, many first-time restaurant operators do not prioritize hiring competent staff. Assembling a qualified team of chefs, supervisors, waitresses, and bartenders allows restaurant owners to establish a robust working culture.
Recap
New restaurant owners should conduct trials or soft openings to gauge their preparedness for the grand launch. Invite a few friends, neighbors, and family for the trial launch to test your menu relevance and operational efficiency
