Running a Profitable Restaurant When it comes to operating a profitable restaurant, in an industry known for thin profit margins, attention to operational details means everything. Recruiting and retaining the best employees, selecting properly from among a myriad of food and beverage vendors, establishing cost-minimizing operational policies and procedures, identifying and implementing the best […]
First, congratulations on wanting to start your own restaurant. This is no small undertaking. It starts with a vision, and entrepreneurs are visionaries. So, where do you start? You have an idea, but then what? You’ll need a location, a restaurant brand, a menu, staff, kitchen equipment, marketing and advertising, and so on. But […]
Is there a wrong way to open a restaurant? Indeed there is, as indicated by the high failure rate of new restaurants. A popular belief is that 90% of restaurants fail within the first year. Whether this is true or not, no one knows. However, a study by Ohio State University indicated that 60% of […]
With millennials expected to outnumber baby boomers by 2019, it follows that businesses are desperate to capture and keep the attention of this social media-loving generation. Restaurants are no different. Just Two Weeks Ago, At the Beginning of This Month, Applebee Released an ASMR Video on YouTube Aimed at Millennials ASMR is an Autonomous Sensory […]
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 […]
Owning opening a restaurant is a fun and exciting experience. However, there are things that everyone must be aware of going into the business. Here are the five most crucial things every restaurant owner must know before opening. 1. Know Your Concept- To be successful, a restaurant needs a clear concept. Often, people go […]
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 […]
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, […]
Operations Analysis It takes so much more than a few outstanding recipes or a single acclaimed chef on the payroll to raise your restaurant’s visibility in the ever-growing dining-out market. With the public being educated by cooking shows that feature some of the world’s most beloved chefs, the bar is now raised, the gauntlet […]
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 […]