- Nearby Attractions
- Surrounding Area
Great restaurants are composed of many different things. Outstanding food, impeccable service, and an overall unique experience. However, when opening a restaurant, it is important to not only focus solely on internal factors, but to consider certain external elements. Today we will be looking at such elements, and exploring why they can be crucial for starting restauranteurs.
1) Nearby Attractions
Whilst I’m sure that your restaurant will or does offer a great experience to your customers, it helps if the businesses around you do as well. Families out for dinner will likely go for drinks afterwards, especially if a bar is nearby. You are more likely to attract customers if they find the area you are in desirable and varied. Use this to your advantage. Whilst a location in a business-based area may seem busy, it lacks the surroundings to bring in more customers in the evenings. Instead, use other businesses to bring customers to your door.
2) Surrounding Area
This one is self-explanatory, but it is equally as important. If the area and streets surrounding your restaurant aren’t desirable, then don’t expect your business to be. Certain urban and industrial areas can be tempting due to their lower rent, but do not let this fool you, such properties are cheaper for a reason. Instead of spending an arm and a leg for a central location, be aware of up-and-coming areas. Your business may not take off immediately, but as the area becomes more desirable, so will your restaurant.
Summary
Whilst the key to a successful restaurant is primarily down to its own efforts, this success can be expanded through careful consideration of location. By utilising the variety and quality of surrounding businesses, aspiring restauranteurs can increase their own success simply through their location. All it takes is careful planning and area analysis.
Baxterworld are Chartered Management Accountants specialising in Hospitality businesses. If you are interested in better bookkeeping and management information at a lower cost, call Ray Baxter on 020 7099 9676 or email [email protected].