Philadelphia Restaurant Startups
The world of cuisine covers a wide range of food and beverage business models from; fast food burger joints, Chinese takeout, soda jerk nostalgic ice cream parlors, institutional food, brew pubs, martini lounges, catering to glamorous, gourmet, white table cloth, fine dining country clubs and more…
Pastry shop, coffee house, Delicatessen, all you can eat buffet, banquet hall, bed and breakfast, private Chef service, event planning specialist, food cart business, pizza place, seafood, steakhouse, ethnic food, 24 hour diner…
Often restaurateurs are attracted to the idea of starting a restaurant business because they love to cook or have an appreciation for great tasting food and drinks. Thus a career in the hospitality field seems ideal. What they don’t take into account is that having a passion for cooking or an unquenchable appetite for tasty food and drinks is not all that is required to run a successful food service business. One of the most important skills necessary to make a restaurant thrive is salesmanship.
Marketing and promoting a food industry start up is probably the most important factor for success. Most startups fail before completing their first year. The key to success is doing thorough market research and extensive planning.
Philadelphia Restaurant Consultant will be happy to analyze your intended location to see if your proposed concept is a good fit there. We’ll compile data on your soon to be competitors, detailing their strengths, weaknesses and reputations. A detailed demographic of the neighborhood will let you know more about your intended target customers so you can design your menus and price your services better. How many seniors live in the area? Baby boomers? Generation Y? Generation X? Empty nesters? Each of these groups has a different opinion on what makes a good meal. Knowing the concentration of each group then taking in to consideration their dining-out needs and wants is invaluable for planning your restaurant’s theme.
What is the crime rate in the area? Tax issues? Zoning laws? Average rents? Insurance issues? Political atmosphere? Public tensions? Is there any grant money or government financing to be had? We’ll use our contacts and connections to make sure there are no surprises planned that will sabotage your grand opening or future business such as highway construction plans or a garbage disposal plant set to move in down the block. An important factor to know is the pay scale in the area for certain kitchen and restaurant service jobs. How much bus boys, cooks and shift managers make in this neighborhood will affect your bottom line but more importantly it will determine if you will be able to hire and afford to pay competent reliable staff in this neighborhood. And, will they stay or will you be faced battling revolving door syndrome! The more knowledge the better!
How much money you can invest will be a big determining factor in what type of restaurant you can start. If you plan on borrowing, you will need to create a comprehensive detailed business plan so investors can clearly understand where their money will be going. You will first wish to decide if you are going to build your new restaurant business from the ground up. Will it be housed in a brand new building? Will you be leasing the property where you build your new establishment or purchasing the land? Will all the equipment be sparkling new or could you save by purchasing used equipment?
To find out more about Philadelphia Restaurant Consultant business plans: CLICK HERE!
There is a lot to consider when planning to start a business as complicated as a restaurant. Expert advice and mentoring can make all the difference between success and failure. As a Philadelphia Restaurant Consultant client experts will be there for you every step of the way!
Contact Philadelphia Restaurant consultant for a free consultation: firstname.lastname@example.org