The Restaurant Group Blog

How to Open a New Restaurant

How to Open a New Restaurant

5 Key Steps on How to Open a New Restaurant

Owning a restaurant can be a good way to make money as an entrepreneur. The constant flow of customers plus the stability the restaurant industry enjoys guarantee continuous flow of revenue throughout the year. Although having a restaurant may look like an easy way to make a living, it takes a great deal of effort, money and time to actually get the business up and running. Here are some crucial tips on how to open a new restaurant.

Develop a Concept

With hundreds of thousands of restaurants existing in the United States alone, it may seem right to think that all ideas have been exhausted and that there is nothing new you can create. This is absolutely wrong.  At TRG Restaurant Consulting, we help clients develop fresh and highly effective concepts for their restaurants. Our experts work to ensure that the concepts conform to the visions of our clients as well as their preferences for location, time, type of menu and style of service. We then research the market, study potential competitors, create a plan of action and prepare a comprehensive report to help our clients smoothly implement the ideas established in the concepts.

Develop a Brand

The brand matters. It is the voice of the restaurant in the market. It tells the story of the restaurant, including its key objectives and what it stands for. At TRG, we help clients create brands that express who they really are and what they believe in. Our branding gives customers a reason to share with others about your restaurant and instills confidence and trust in them. Branding services offered include graphic designs for signage, logo, menu and business cards, and internet marketing.

 Design the Kitchen and Bar

A perfectly designed kitchen and bar create a lot of space for storage, cooking, dining and dishwashing, provide good workflow and help the restaurant comply with health and building codes. TRG Restaurant Consulting experts design kitchen and bars that enhance efficiency, worker productivity and safety. They ensure proper architectural and interior design layout and offer professional installations, equipment selection, food service layout, ventilation system drawings and many more.

 Create a Business Plan

A business plan is an important tool that helps guide decisions in a restaurant. It provides clarity on the key goals of the business, from operations to finance and marketing. Our team of experienced and highly qualified experts provides up to 30 pages of business plans. The plans feature one and five-year profit and sale projections, mission statement, marketing overview and a rough draft of the menu.

 Conduct A Feasibility Study

A feasibility study is a factor an aspiring restaurant owner should consider. It looks at how viable the business ideas are by identifying potential problems and possible successes. At TRG, we conduct a preliminary analysis to screen the ideas established in the concept, conduct market surveys, analyze all relevant data and provide final recommendations to our clients.

Feel free to contact us today for free consultations and comprehensive feedback on our services.

Restaurant Feasibility Study: Why You Need One Now

Restaurant Feasibility Study

 

A restaurant feasibility study is an important step when considering starting a new restaurant. A simple feasibility study could save you time, money, and a huge headache.

What is a Feasibility Study?

A feasibility study evaluates the variables in a particular project, such as starting a new restaurant. The study takes into account the cost of material and labor. However, it doesn’t stop there; this study tries to identify every possible problem that could arise during the project. It inspects the market to determine if it will grow and evaluates the current competition. The study also looks at the business model to ensure that there are no issues with the plan. The study takes into account the skills and resources the investors provide in an attempt to determine if they have the tools to start and run a business. These are just a few aspects of feasibility studies. To see the complete list, visit The Restaurant Group.

Why Should You Get a Feasibility Study

It is important to understand your business plan and the market down to the most minute detail. A feasibility study will likely bring up issues that you didn’t realize were a possibility.

This study won’t just tell you if you have the funds to open a restaurant; it will inform you as to whether or not you also have the resources, tools, and market to open a successful restaurant. This knowledge is invaluable.

Feasibility studies give you the opportunity to be a step ahead of any issues. Solving an issue before it even becomes a problem, sets you up for success.

How to Get a Feasibility Study

If you are starting a new restaurant and want a feasibility study, visit The Restaurant Group to get more information and a free quote.

The Restaurant Group has 7 years of experience consulting with new and established restaurants across the country. This company is detail oriented and dedicated to provided exceptional services. The expertise that The Restaurant Group provides will surely be a vital tool as you begin your new business venture.

10 Key 2018 Restaurant Trends To Look Out For [Part 1]

 2018 Restaurant Trends

2018 Restaurant Trends (Part 1)

The restaurant industry is undergoing a constant wave of change, especially with the evolution of digital technology. From marketing to delivery, to service – each segment of the industry has experienced a massive shift.

This will continue in 2018 and for restaurants to succeed in the new year, it is vital to keep an eye on what trends are beginning to emerge for 2018 and strategize on the best ways to leverage these for individual success. Here are just a few that are sure to dominate 2018:

1) A major focus on sustainability

One major aspect of the business that restaurants must focus on in 2018 is sustainability. Whether it is zero-waste cooking or improved efforts to recycle and reduce waste – sustainability must be at the heart of it.

Not only is it necessary from an environmental point of view, but it is something that greatly resonates with consumers and can be incorporated into the restaurant experience as a whole.

Savvy foodies enjoy knowing that the food they are consuming is created under ethical and sustainable standards and this can be a major force in marketing and advertising as well for restaurants themselves.

2) Constant innovation

The truth is, digital media has contributed to setting much higher standards when it comes to food, presentation and menu innovation among consumers. Customers want menus that have a global feel, a range of diversity and the knowledge that the restaurant itself is dedicated to innovating the food experience.

For some, this might mean incorporating more exotic and different ingredients (this could include grains, powders, and ashes – just to name a few). Or it might mean rethinking menu staples to offer a fresh twist on classic items.

3) A continual embrace of technology

From an operational standpoint, it is imperative that restaurants continuously embrace technology and incorporate it as best as possible for a seamless experience. Automating key parts of the restaurant experience is one facet of this, as is using technology to really understand the core of your business.

There is now a wide availability of data that can be used to improve the consumer experience and that will become a major factor for success for restaurants. Using data and technology to really understand your customers and their preferences, and creating a customer journey accordingly will be a major trend for 2018.

4) Customizing the experience

Whether it is more choices in ingredients or creating an experience through rewards or loyalty program, customization needs to be at the heart of every operation.

Restaurantgoers are now increasingly expecting a level of personal service with their food experience, and restaurants need to able to scale their technology efficiently to deliver on this. This could start from the very beginning of the customer journey when they book their table to when they arrive, but that element of a personal touch must be there.

5) Seamless delivery integration

Speaking of personalization, customers also enjoy a new level of convenience that was not present before. Restaurants should increasingly look for methods to integrate delivery options as well in order to reach wide customer bases.

This might mean partnering with local delivery agents, or even starting with smaller steps to integrate takeaway options for customers as a starting point to see the level of demand for other options.

 

Contact TRG for your restaurant consulting needs.

Early Feasibility Study for Restaurant Entrepreneurs

Restaurant Feasiblity Study

Restaurant Feasibility Study

 

We’ve all seen it happen, a restaurant comes into town, has amazing food and still does not make it through a single year of business. We have also seen establishments with questionable quality or service stay in business for years. When an entrepreneur begins to formulate plans for a new restaurant, they often plan out details they have not seen in other establishments.  Do those personal touches matter? The answer is ambiguous without evidence based research.

TRG Restaurant Consulting has unmatched experience predicting the success of a new restaurant with the use of a feasibility study.  Some entrepreneurs skip this step but doing so is a large financial gamble. Protecting your investment early is a must to financial stability.

What is a feasibility study and when should a potential business owner consider investing in one? A feasibility study takes into consideration all variables of a restaurant’s success. They begin with big picture variables, such as the climate of restaurants in the area, and work backward through the smallest of details. These variables are the objectives relating to the success and longevity of a specific business, in a specific location at a specific time.

A quality feasibility study will guide an entrepreneur by determining if this is the right time and place to start this specific restaurant. There are other agencies which offer some form of consulting services. To be certain you are choosing a quality study and making wise investments, please contact TRG Restaurant Consultants. Our team is ready to provide our experience for your future endeavor.

Tips on Starting a New Restaurant

Starting a new restaurant

Starting a new restaurant

Starting any kind of business can be challenging and, in many cases, outright daunting. Restaurants are no exception. Here’s an idea of what the process will entail.

Concept 

The first step in starting a new restaurant is developing a concept, which lays the groundwork for all that follows. You then need to design a plan of action. We at TRG can help you through our five-stage process:

  • Alignment — You’ll present to us your vision, as well as ideas for things like menu design, location and budget.
  • Research — We’ll compile a strategic list based on potential competition in your target market area.
  • Analysis — We’ll do a comparative analysis, pitting your restaurant against the competition.
  • Plan of Action — During a brainstorm session, we’ll create a plan of action that will include all aspects of your operation, including kitchen and bar design, menu, brand value, ideal location, and other requirements.
  • Reporting — We’ll help your restaurant achieve a smooth implementation and launch.

Brand

Here at TRG, we realize that brand is everything. It’s through branding that you convey your restaurant’s personality, paving the way for brand loyalty. We can help develop your brand and thereby create a lasting impression on your customers. TRG can provide services in such areas as graphic design and brand development.

Kitchen and Bar Design

A great kitchen design is essential for every restaurant, as it can help guarantee repeat business. Our consultants have real world experience and the know-how to help you design your kitchen and bar so you can generate repeat business. We can help you pick the perfect restaurant kitchen and bar design that both helps generate profit and reflects your brand and values. Don’t worry — we’ll guide you every step of the way.

Business Plan

A business plan is necessary to obtain funding for your operation. At TRG, we can help you craft a 20-30 pages business plan that we think could attract potential investors. Each plan, which we would deliver in both printed and digital formats, would include:

  • A mission statement.
  • A Business and Marketing Overview.
  • One- and Five-Year Sales and Profit Projections.
  • A Rough Draft of the Menu and more.

We’ll also provide you with a restaurant strategy plan, which will include 400 issues restaurant owners must address when they’re opening their business.

Feasibility Study

The next step would be a feasibility study to ensure that your concept aligns with your goal of maximum profitability. The study would include data and recommendations for such crucial elements as: local restaurant marketing potential, traffic count, possible location problems and solutions, demographics and identification of the target area, staffing potential, advertising options, direct and indirect competition, photos of the target trade area, and issues involving ingress and egress.

We can help you transform your restaurant idea into reality. For more information, please contact us.

Is Your Menu Intimidating? TRG Menu Development Can Help

TRG Menu Development

Menu Development

 

Have you ever sat down at a restaurant and opened up the menu only to find that your choices seem endless? Having too many options is often overwhelming. Even the most experienced Chef cannot possibly be well versed in all areas. The odds that your kitchen staff can serve world-class Sushi and BBQ up some killer ribs are slim, and your guests know this. A menu with too many items sends the message to your patrons that your establishment doesn’t excel in any one item, rather, it offers an array of mediocre items.

People like options and you should certainly give them some. Try limiting your menu to just a handful of items that your restaurant can knock out of the park. Doing this has several advantages that might surprise you. It cuts inventory costs and allows reallocation of those funds towards higher grade ingredients, thus increasing the overall quality of your product. Offering less menu choices also creates less memorization for your wait staff; decreasing the odds of mistakes which results in happy customers. Perhaps the most positive change is that this will brand your restaurant. You will now be forever known for the amazing niche items prepared unique to your restaurant. This will attract the people whom are truly interested in what you have to offer, and likely result in a positive reputation amongst your community. Another positive is that you can bump of the price of your dishes with confidence, generating more profit. Remember this: less is more.

The menu is the first encounter a guest has with a restaurant. Contact TRG Restaurant Consulting, to learn more about our menu development services and how we can help to ensure that all the dishes on your menu not only stand out for their own merits, but also work together to form a cohesive whole.

 

TRG SUPPORT AFTER HURRICANES HARVEY AND IRMA

Hurricane Irma devastated Florida leaving over 6 million people out of their homes, and now its time to start the clean up process.

Hurricane Irma Harvey Restaurant Support

In the wake of Hurricanes Irma and Harvey, we’re supporting restaurant and hospitality businesses affected by the storms.

TRG is standing by you and with you, ready to help in any way we can. Have equipment that was damaged and needs to be replaced? We can help with that. Need to rebuild, we can help with that, too. Whatever you need, we’re here to roll up our sleeves and help you move forward.

TRG is now offering Hurricane Relief Assistance discounts on all services and equipment to those in affected areas. Proceeds from now till November 1st, 2017 will go to the American Red Cross, Save the Children, Humane Society and/or local food banks to support rescue and recovery efforts.

LOOKING TO LEND A HAND?

If you’re looking for a way to help with the relief efforts, there are several charities always looking for volunteers and donations. See how you can make a difference today.

A great way for you to help is by visiting Red Cross Relief Fund for Hurricane Irma and Harvey for a quick easy cash donation, simply select ‘Harvey’ or ‘Irma’ when you donate.

Click below for more ways to help.

Of course with the closure of blood banks, there may be a shortage of blood. You can also contact the Red Cross to make an appointment to donate blood.

Feasibility Studies – The Best Way to Maximize Restaurant Success

Restaurant Feasibility Study

Restaurant Feasibility Study

Starting any project or venture in the restaurant industry is a massive risk, and failure is common. Luckily, there is a way to pre-check the potential success of a new restaurant; it is called a feasibility study. As the name suggests, a feasibility study examines whether or not a project is feasible with the provided resources. Although there are many benefits to a feasibility study, the main ones are as follows:

Optimal Location

Feasibility studies examine multiple potential locations, as well as potential issues with said locations. Everything about these places is taken into account, from the demographics and foot traffic in the area to any natural or man-made barriers that could potentially affect business. For example, if one potential site is in a city center and another is on the outskirts of the same city, there will be different needs within the demographic. A feasibility study would take these demands into account and provide the best location for a specific restaurant.

Competition

When deciding whether or not to move forward with a restaurant project, considering any potential competition is crucial. A feasibility study will consider both direct competition and indirect competition. Direct competition is a company that produces a virtually identical service, while indirect competition is a company whose service could satisfy the same need. By examining both types of competition, a feasibility study can provide the most accurate picture of any potential competitors.

Staffing and Management Advice

Excellent staff can keep a restaurant running smoothly, and heighten the experience for customers. On the other hand, bad staff can quickly tank a profitable venture. A feasibility study can show the staffing potential of a project, as well as provide specific staffing and management advice for the restaurant. This helps avoid any staffing issues, as well as boosting the abilities of managers and staff.

A feasibility study will provide the best options for any new venture. If you think a feasibility study would help your project idea, feel free to contact us at TRG for more information.

Why You Should Have a Feasibility Study Before You Start a New Restaurant – Reducing Risk

Feasibility Study

According to Restaurant Startup & Growth magazine, close to 25% of restaurants fail in their first year of operation. One way to mitigate the risk of restaurant ownership is to conduct a feasibility study before the business opens. A feasibility study examines an idea, identifies potential issues, and attempts to determine if you should proceed with the project or abandon it.

A carefully thought out business plan paired with a subsequent feasibility study will increase the likelihood of success. The key elements of a typical study are below.

Location analysis

A location can make or break a business, especially a restaurant. A proper site analysis includes potential issues and solutions, demographic information, current and potential competition, advertising options, etc. Even detailed statistics like traffic data (foot, road, and public transportation) are used.

Labor analysis

A business owner relies on staff to keep the operation running smoothly. A combination of demographics data and a favorable location increases the probability of attracting the right employment candidates for your business needs. And hiring the right person the first time reduces turnover and training costs, while freeing up the owner’s time to focus on strategic planning instead of the daily restaurant operations.

Cash flow projections

Cash flow projections are an important element of any business’ feasibility study, as without adequate income the operation can quickly succumb to debt and fail. Evaluating potential roadblocks and ways to overcome them before the business is open will greatly reduce the amount of stress on the business owner.

No business owner wants to fail, and careful planning ahead of time can reduce that probability. A quality feasibility study is a complicated task, requiring expertise, precision, and experience. You might not have the time required to complete it, so outsourcing this job to the experts is a wise choice.

 

Virtual Restaurants and Delivery Service

Virtual Restaurants and Delivery Services

Virtual Restaurants and Delivery Service

 

It’s six pm on a Tuesday, and after leaving work you’re sitting in bumper-to-bumper traffic amid a cacophony of beeping, honking, and expletive-laced language, wondering what to have for dinner. Seven years ago the options would have amounted to cook your own dinner, dine out at a traditional restaurant, or order from the same revolving stack of pizza or chinese food menus. But this is 2016 and the delivery landscape has changed.

These are the days of Grubhub, Foodler, UberEats, Munchery, and more. The technological advancements of the last decade have affected the culinary scene with the same fervor as transportation, finance, and hospitality, resulting in a widened array of dining options for consumer and deepened selection of business ventures for chefs and entrepreneurs.

What makes these dining options and business ventures so unique and attractive? For consumers, who were previously forced to choose quality or convenience, the pros are clear. No longer is the decision to order delivery equanimous with a high-fat, high-sodium often sub-par meal delivered by a pimply high-schooler who hasn’t yet realized the importance of standing up straight or enunciating.

Today’s delivery scene offers a bevy of choices for the modern-day consumer who may prefer a wholesome, chef-prepared meal with fresh produce and locally sourced ingredients.

Business owners, too, cannot deny the appeal of a delivery-only restaurant – they cut down enormously on the initial investment and traditional on-going operating costs. No longer is interior decoration and design a concern. Nor is sourcing glassware, flatware, and plates. No POS system needed. Payroll is limited to kitchen staff, delivery staff, and some management.

That’s not to say traditional obstacles are no longer relevant, and in some ways, they are compounded. For an industry which is so heavily based in hospitality and customer service, how do restaurants right the wrongs without some manger face-time and a few comped beverages?

Expectation is oft-hailed as the root of disappointment, and in that sense traditional restaurants do a better job crafting the guests’ expectation. Subliminal cues in interior design and staff verbiage inform the guest as to the style and type of service and food, which can be challenging to replicate in the delivery-only format.

Additionally, the owner/operator needs to ensure prices cover their food, labor, and operation costs and still deliver perceived value to the consumer. While wholesome, honest ingredients and prep may go into the food, a “restaurant quality” meal entails more than just the ingredients themselves. Here’s where things like temperature and presentation come into play, as well as training the delivery person to assume more of a server-like or brand ambassador role.

The market is ever-changing and ever-expanding and we, as owners and operators, need to stay ahead of the curve, anticipating our consumer, customer, and guests wants and needs before they do. Delivery-only restaurants and commissaries present a formerly hard to come by opportunity for a lower start-up cost ventures, and offer great source of additional revenue stream for restaurants, but the traditional restaurant isn’t going anywhere anytime soon.

For more insight on the delivery-only format and other market trends, reach out to us at TRG

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