7-smart-tips-to-get-your-new-restaurant-off-the-ground

7 smart tips to get your new restaurant off the ground

Here at GMIB we don't just do car and home insurance. We provide insurance for all sorts of businesses; small and large, local and national. Over the next few months we'll be posting a series of articles with useful tips and tricks. If you're thinking of starting your own business, be sure to check back, or let us know if there's any particular business or topic you'd like us to cover.

So you’re thinking of opening up your own restaurant. If you’re passionate enough about your idea and take the right steps, the rewards will be life-changing. But like any business venture the process is fraught with risk and uncertainty. Although it’d be great if things were that simple, it won’t be a case of “build it and they will come”. We’ve put together a few helpful pointers to get you on your way.

 

1. Location, Location, Location

Often thought of as the single most important contributing factor determining the success or failure of a business, getting the location right is key. There are so many things to consider: infrastructure in the area, foot traffic, surrounding businesses and accommodation, costs, parking and how the location fits with your concept all need to be analysed before making a decision. Be sure to choose the right spot for your restaurant, not just the right spot for a restaurant.

2. Think long and hard about your lease

The terms of your lease will be hugely important as you open up and try to develop your business. This is bound to be a massive expense for you so do everything in your power to get the best deal possible. If there’s anything in your contract you’re unsure about or you don’t understand, get someone more qualified to take a look. While each entrepreneur will have their own goals and their own set of circumstances, a common mistake is to take out a lease that turns out to be too short. It’s natural to be nervous and err on the side of caution but if your restaurant flourishes, you could be in trouble when your lease runs out. Negotiate some options that will allow you to extend the lease if certain criteria are met.

3. Get your concept right

Is it a fast casual restaurant? Fine dining? Bistro? Ethnic cuisine? Whatever you choose make sure everything fits. If the ambience, food and price don’t match, customers will notice and be slow to recommend it to their friends.

4. Hire the right chef

It goes without saying that it’s impossible to have a great restaurant without having a great chef. It’s crucial, however, that your chef matches your concept, otherwise you can expect at least a little bit of drama somewhere down the line. If all is well in the kitchen then hopefully the next step should take care of itself…

5. Serve great food

Perhaps the single defining characteristic of a great restaurant. It may sound obvious but restauranteurs often get wrapped up in the finer details and neglect the one thing that’s sure to get people talking: truly great food. Again, it’s important that everything is in sync. Expectations will vary depending on your concept and pricing. Value for money is key.

6. Ambience

Making sure everything is just right, from the silverware to the seating, the lighting and the music, will cultivate the perfect atmosphere and put the customer at ease. The more comfortable the people in your restaurant are, the more likely they are to return – and hopefully bring a bunch of friends along with them.

7. World class service

How often have you left a restaurant and complained about the waiter? And how many times have you returned to the same restaurant after having a bad experience with a member of staff? Employing candidates with excellent people skills is a hugely important step when opening up a business in the service industry. Your waiters should be capable, polite and, above all else, always putting the customer first.

Starting your own business is tough so hopefully these tips will point you in the right direction. And don’t forget to speak to us if you’re in the market for commercial insurance! We’ll do our best to get you the best deal possible.

Best of luck,

The Team at GMIB.ie