It’s a widely known fact that entering into a new business is always a big risk. Restaurants come with an even higher risk than most start-ups, party due to fierce competition and other external forces. However, the complex set of considerations that have to be factored in by any new restaurant owner is probably the reason most new ventures fail. You’re unlikely to succeed if you fail to think about all the fundamental practical aspects of your restaurant, such as the following.
Supplies and transport
Managing your restaurant day-to-day is going to rely on fresh ingredients being delivered to your kitchen exactly when you need them. This definitely doesn’t happen by magic. Great suppliers and distributors are definitely out there, but you need to plan carefully to set up a system that works for your business. Finding a highly reputable company to manage the transport and delivery of all your fresh, perishable ingredients is essential. Harlow Group Storage, who specialise in temperature controlled transport, distribution, supply chain, and logistics in Bishop’s Stortford and Essex, would be one great example.
Location is crucial
Of course, deliveries and distribution will be related to your location, but this needs to be perfect for many other reasons. Where are your target customers? Are you in an area that fits with the concept of your restaurant? Are you far away from where most people live, and if so, is your food going to be worth travelling for?
Opening a restaurant requires certain permits from the beginning, and this becomes more complicated if you’re planning to serve alcohol as well as many other potential factors. Planning permission is sometimes forgotten when calculating how long it should take to set up a restaurant from scratch, plus you have employees and taxes to think about. You might even be subject to legal restrictions depending on your precise location, which can cover everything from parking to cooking, so it’s best to do your research.
A lot of logistical nightmares end up being about money at the end of the day. You might not need a giant cash reserve to get started, but you need to at least have the resources to get everything done and paid for. Emergency backup money is certainly not an optional bonus. Underestimate what you hope your profits will eventually be, plan your budget accordingly, and make sure you can access loans if you need to.