As an off-shoot of the importance of location, below are the top three restaurant location must-haves:
#1 – A Good Layout
Your restaurant space’s design will greatly impact the feel of your place, the number of people it can attract, and the amount of seating it can accommodate. When exploring potential locations, ask yourself these questions:
- Is there enough room for the type of kitchen you envision?
- Will you need to make significant renovations to make the space usable?
- Is there enough room to seat the number of patrons you want?
- Will it be easy to bring equipment and supplies in and out of the restaurant without disrupting your customers’ dining experience?
Ideally, you want a layout that allows you to you realize your restaurant concept without doing extensive renovations and running up start-up costs.
#2 – Foot Traffic
Unless you’re a famous chef with thousands of fans willing to kill for a seat in your restaurant, or otherwise have a brand following, you’ll need a location that’s easy to find. You’ll need to decide if you want a street-side location, or a space in a mall. Wherever you go, make sure that enough people (and the right people) frequent the location.
#3 – Competition
Don’t be the only restaurant on the block. Get smart about location by setting up as close as possible to your biggest and most powerful competitors. Let them do the heavy lifting of marketing, and then siphon off their customers while keeping your own marketing costs low. We’ve had clients find success as the first restaurant in a growing area or secluded spot off the beaten path, but we’ve seen more restaurants fail in that environment. Your competitors are located in a certain area for a reason. This is one of the times in life where it’s not a bad thing to be a follower.
As you search for the perfect location, remember that your efforts should always aim to increase profits while keeping your overhead low. Keep the aforementioned tips in mind, and you’ll be on your way to find a great space that allows for good margins.
For additional counsel, feel free to reach out to us at Alan Fowler Law, PLLC. We’d love to hear from you!