Taste may be one of our most important senses, but not for the reasons of necessity.
If you are a food lover, an excellent cook or even possibly a trained chef, starting a restaurant can be a passion-turned-reality. Getting into the restaurant game can be daunting, however.
Many things must be factored in when planning a restaurant: start-up funds, location, permits, inspections, furniture, etc. Going into the restaurant owner business does not have to be a frightening prospect, however.
Here are a few things that will aid you in having everything laid out and taken care of:
- Having your Financial Ducks in a Row: Depending on your situation, you will need to make an accurate account of your current financial statement to show to investors particularly if you are making a presentation to a group or bank. Contacting a good accountant with experience in the food and beverage industry is a good step to take toward determining your financial status. The right accounting company can help you to get everything into order, as well as offer some other crucial services. Getting in touch with other restaurant owners can help you to determine the initial costs of getting your doors open, often mentioning things you may not be aware of through experience.
- The Location is Critical: For your restaurant to be successful, an eye towards location is necessary. A restaurant is only as good as the people who frequent it, so consider the demographics of a particular area before making a decision. An expensive French restaurant might do well near an upscale neighborhood but may utterly fail in a high traffic area whose environment does not match with this kind of elegance. Moreover, speaking of the environment, making sure that the area you choose for your restaurant is in a location that is appropriate to its type is just as important.
- Permits, Licenses and Paperwork: When it comes to opening a restaurant, things like health inspections, licensing to serve food and alcohol, licenses to run certain types of food related machinery and some other things must be considered. The paperwork side of a restaurant startup is another great place to enlist the help of an accounting firm. An accountant can help you to organize all of the paperwork needed before (and potentially after) your doors swing wide on opening night.