2 Things to Consider when Opening a Restaurant
  • Understanding Your Clientele
  • Accessibility
Every town or city in the world has one. A property that lures in enthusiastic restauranteurs, chews them up for six months and spits them back out, beaten, and dejected. Maybe you’ve seen this cycle occur, maybe you’ve been unfortunate enough to experience it yourself. Today we will be looking at 2 reasons to why customers avoid these locations and why you should too.
1) Understanding your Clientele
In any business, it is essential to match the product to the customer. This pairing, however, also needs to take place through your location. Take two pizza businesses. One sells whole pizzas primarily to families with children, the other sells pizza by the slice. The former is more suited to a suburban housing area, whilst the latter is more suited to a central location, targeting people leaving bars and clubs. Both businesses sell similar products, but their success comes from their venue.
2) Accessibility
The phrase ‘if you build it, they will come’ isn’t always true. Customers can come, but only if they are able do so. Let’s compare the two businesses again. One is a detached countryside restaurant, the other is slap bang in the city centre. The countryside restaurant will most likely lack any form of public transport and will rely heavily on customers arriving by car. The restaurant in the city centre will target customers who utilise public transport, as it is quicker and easier than driving. If the countryside restaurant fails to provide adequate car parking or if the city centre premises fail to sit on or close to a public transport route, they will only cause frustration to their customers. It is vital to ensure that not only can your business reach customers, but that your customers can in turn, reach you.
Ultimately, whilst impeccable food and service will generally lead to success, it is equally necessary to establish your business in the best location available. Before a lease is signed, potential business owners should spend as much time as possible researching their venue. If not, you may find yourself in the same kitchen as many failed restauranteurs before you. Baxterworld are Chartered Management Accountants specialising in Hospitality businesses. If you are interested in better bookkeeping and management information at a lower cost, call Ray Baxter on 020 7099 9676 or email [email protected]. #restaurants #Location #hospitality #hospitalityindustry #smallbusinessowneruk #food #service #accountants #accountancy #finance