Restaurant Feasibility Studies

 

Having a feasibility study done for your proposed restaurant business is critical. In fact it should be step two after you’ve put together a strong business plan. The basic purpose of the study is to tell you whether or not starting a new restaurant is a good idea. A properly conducted study will save you a great deal of time, money and wasted effort.

Answered Questions:

Make sure that your business gets a proper foot off the ground by conducting a feasibility study. The study will answer critical questions such as;

– Does my business stand a good chance of success?

– Does it have a reasonable potential for profitability?

– What does the cost benefit analysis look like?

Details Included in a Comprehensive Feasibility Study:

– Area demographics, including income, population density and trade area data.

– The most promising locations for your restaurant, potential issues and resolutions.

– Traffic data that covers private and commercial transportation systems, as well as foot traffic.

– Marketing statistics and research on competitors in your service area.

– Industry resources as well as staffing and  managerial guidance.

These are just a few of the pieces of vital information that a feasibility study will place at your command.

Obtaining a Feasibility Study:

The best avenue is to seek a top tier firm that specializes in full service restaurant consulting. The best firms will be able to provide a priceless service by producing a solid feasibility study. An accurate study will raise questions that your consultants can answer. They will also be able to offer your business seasoned advice and guidance.

With a superior feasibility study in hand and partnership with a reputable consulting firm like TRG to assist you. You’ll be well on your way to bringing your restaurant business to life.

Please contact us for a free quote regarding services we can provide.