Management Tips - Choosing a site for your restaurant concepts
'You’ve heard it before: “Location, location, location.” The idea that location is often the determining factor in whether a business succeeds or fails is especially true for restaurants. Even with a great concept, rockstar personnel, and a clear strategy, new restaurants often fail because they open in a location that isn't the right fit.
When aspiring restaurant owners look to bring their dreams to life, they often need to attract investors to help get the business off the ground. As part of that process, they must create a comprehensive restaurant business plan where they can lay out their entire vision for the new restaurant. In addition to the restaurant’s projected finances, seasoned restaurant investors will also carefully evaluate the restaurant real estate portion of the business plan.'
Click by Booking.com give us few great tips on what's the most important when choosing a site. They talk about choosing right neighbourhood, identifying target market, checking the market conditions, checking out the competition. They also give you ideas for deciding on the size of the venue and what drives the visibility.