There is a time and a place to rely on your gut-feel. After all, you’re in the business of making guts feel very happy indeed. However, picking a location where your new restaurant can thrill and thrive needs expert input. You’ve checked the boxes when it comes to creating a tastebud-tantalizing menu, you have contacted staff that will deliver professional customer service, and you know the importance of building a restaurant brand. Now it’s time to choose a location that is a profitable paradise.
Yela Concepts would relish the opportunity to guide you through the process. As seasoned hospitality experts, we have proven industry tips that will reduce your risks and boost your opportunities:
Recruit consultants from the get-go
There are multiple facets to opening a new restaurant. Like knowing the restaurant’s digital marketing must-haves, the legal in’s and out’s, or perhaps you require assistance with franchising your current restaurant. Picking a prime location is just one of the primary considerations in this process.
Park this thought
Most potential diners will become frustrated if easy parking is unavailable. People don’t want to walk far (ironically, even when parking at a gym). Ideally, they don’t want to squeeze into a parking lot that’s postage stamp size. And they certainly don’t want to pay exorbitant parking prices. Ideally, a location close to reliable public transport is desirable. This gives diners the option of leaving their car at home and also negates the risk of someone making a reckless decision to drive after enjoying a bottle of your finest.
Make eye contact
This is not just sound advice for your waitrons. It’s also all-important visibility advice – you can reduce your advertising spend by merely being in a prime location. It’s free awareness. This means prioritizing areas that have high foot and car traffic. People are naturally curious, so regularly passing a just-popped-up restaurant will capture the curiosity of most people. Prime locations generally come with a premium price tag because of the benefits realized. Visibility is one of the major (and justifiable) reasons for that.
Our hearts break when we see yet another restaurant shut its doors in ‘that’ location. Sometimes seemingly ideal sites are littered with repeat restaurant flops. Ideally, you should steer away from locations that are associated with failure. It’s an odd phenomenon, but it’s just not worth the risk given your substantial investment. Give your restaurant every chance for optimal success.
You will have enough on your plate when you open your new restaurant; the last thing you want to worry about is an accident and legal ramifications. Ensure that the building is up to code with (amongst other things) fire alarms, sprinkler systems, handicap-accessibility and correct wiring.
Find the buzz
Festive areas attract people. Whether it’s to see or be seen, people are naturally social. Yes, we are amidst the COVID-19 pandemic, which has hampered our ability to mingle, but better times will return. If you are surrounded by other successful restaurants or shops, you have a greater chance of success. On-your-doorstep competition is a consideration. However, provided your restaurant’s offering is delicious with points of difference, then the competition will be worried about you – not the other way around.
Breathe before you decide
Pause before putting pen to paper. It’s essential to visit multiple sites before committing to a lease. There are pros and cons to most locations, so give yourself a chance to immerse yourself in the shoes of your diner. Spend some time at the site. What is it like during the day versus at night? Weekdays versus weekends? Is there traffic congestion, or perhaps it is affected by weather?
Location, location, location. We’ve all heard the repetition of that word, and there’s a good reason for it. It can make or break your new restaurant venture. Consulting and investing services fall under our extensive Yela Concepts umbrella. If you need a consultant full of get-up-and-go attitude, the Yela family brings ideas and know-how to the table. Let’s talk location, location, location, and then some – email@example.com.