Thinking about your first brick and mortar business?
Opening a restaurant is a dream for many people involved in hospitality for various reasons:
- An opportunity to entertain clients and friends, which can be seen as a status symbol.
- Moving from a pop up or food truck to a permanent venue.
- Search for a return on investment.
But in all cases, the road can be tricky and full of high and lows. Getting our experts from Insight Hospitality on your side is a good way to ensure steady progress and delivery on your vision.
What are the motivations?
One should be realistic with the aims of entering into a restaurant business. If you are looking at a quick return on investment, this might not be for you as the industry is historically delivers lower return than many other sectors of the economy. Also, the rate of failure is still very high and success in this industry is only the result of great products, great service, a price point, and a lot of resilience.
Only motivated operators, who are not scared of the unsocial hours, will be rewarded with lots of satisfactions and decent money. Passion is the key word to success, and it is best if you can test yours with pop up and markets before committing massive energy and funds into a permanent residence for your concept.
What is your concept, brand and offering?
The offering, style of service, values must be clearly defined at start. Only clear concepts, strong values, guidelines, will allow you to get moving and reach the finish line with all the chances to succeed. Our team of experts will guide you through the steps of creating your concept.
A great concept is always one where products, atmosphere, prices and service are all aligned. It is a testament when the staff can explain to you in few words what the concept of the restaurant is.
Also, are you aiming at a one off or a collection of venues? This will have an impact on what investment is required, the latter requiring more research into branding and concept development.
