Bottom Line Blog

Finding the Right Restaurant Location

November 16, 2016 11:00 am Published by
A closeup of a table setting in restaurant location.

A restaurant location can heavily impact profits.

Your food is great, your menu is enticing, and you have an elite staff ready to work hard for your business. However, this isn’t enough to make your restaurant successful. What matters the most is where your business is located. Whether it’s your first foray into the restaurant business or you are looking for a new place to call your stomping grounds, here are the few things we suggest you do to find the right restaurant location.

Know Your Target Audience

Who eats your food? Do you find that people buy your food on their way work, while they are working, or for dinner? These are the type of question that you need to ask yourself. Your target audience is one the most important things you need to know as a restaurant owner.

Without the proper demographics, you could be moving into an area where your restaurant will not be profitable. You need a place with the right amount of foot traffic. Once you know how much they make, how much they spend, and where they work, you can start to narrow down potential locations.

Space Matters

Never buy a place without accessing every last inch of the place. Imagine in your mind’s eye where everything is going to go, from the kitchen and storage to the bathroom and sitting areas. Is everything going to fit? Do you have a space to do all of your managerial work?

You also have to remember what type of restaurant you are. If you are a bakery or a coffee shop, then maybe a small space suits you. After all, more people grab your food and go then sit to eat. If you are dinner restaurant, you are going to want as much space as possible. Enough for the kitchen and for people to eat comfortably.

Find Out if a Potential Restaurant Location Has Competition

The probability of you moving in with the competition is high. It is something you are going to have to deal with. However, you can use this to your advantage. Find out what businesses are in the area. Will you have the only restaurant of its kind? Or are there other serving food just like yours? Either way, you can make it work for you. You offer what others don’t, or similar food for better prices. This will make your restaurant visible in the eyes of customers.

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