Whether you’re an amateur or an industry veteran, the key to your restaurant’s profitability lies largely with the location of the establishment. Finding the perfect location for your restaurant is a battle half won. Take time out to consider non-negotiables in space for yourself before you go location hunting. We’ll get you started and tell you some factors that should be on the top of your mind when looking for that perfect location.
Here are six factors to keep in mind while looking for ‘the’ place for your restaurant:
The perfect restaurant location doesn’t necessarily exist, but it is definitely the one that’s easily accessible and can be found without a lot of twists and turns. Your location should be easily accessible by car and should ideally have good foot traffic as well. Also keep in mind, that the location should be one which can easily be explained over the phone or found on maps, without hassle. You don’t want to lose customers to a difficult-to-explain address now, do you?
2. Population Base
What’s a restaurant if people don’t know about it? It’s imperative to find a location is in an area with enough people and regular footfall to support the business. You also need to make sure that your target niche also either resides or frequents that area. If one is looking to establish a fine dining restaurant, it’s best to find a location that is frequented by people who can afford to eat at that establishment as opposed to an area frequented by younger crowds. Also keep in mind, the restrictions that come with choosing locations in certain localities. If you’re looking to play music till later in the night, it’s best to choose a location that is not in a residential area to avoid disturbing neighbors.
3. Size Matters
The size of the space you plan to rent or buy does matter. Depending on the kind of establishment you’re looking to open, the space you choose to be big enough to function smoothly. While a small space is good enough for takeaway establishments, dine-in restaurants require more space. Larger spaces reduce workplace accidents by minimizing slips, trips, and falls. It’s imperative to keep these things in mind and not skimp when it comes to choosing the right space.
4. Crime Rates
As unglamorous as this conversation of crime rates is, it’s important. In all likelihood, customers won’t visit restaurants in areas with high crime rates. No matter how good the food or the decor of the restaurant, safety is of utmost importance. Do a deep dive into the crime rates of the areas you’ve finalized and choose accordingly.
Having covered accessibility, another crucial factor to look at is the availability of parking spaces. Customers always choose ease of access over anything. If your restaurant is accessible but lacks a designated space where they can park their vehicles, it’s very likely they’ll go to one which doesn’t have this issue. Whichever space you look to rent or buy, make sure there’s enough space for parking. Alternatively, explore potential tie-ups with another hotel or restaurant to solve this issue.
6. Competitor Analysis
Shops and stores with plenty of competitors can lead to a lot of foot traffic. With restaurants, it can affect revenue. It’s important to know the restaurants situated in your neighborhood and the kind of niche they cater to. One reason is to avoid price wars or any other conflicts with your potential neighboring establishments. Another reason to know is to make sure there isn’t a lot of other options you can lose customers to. The best way is to build your establishment’s own unique identity and have its own personality. This will help you differentiate from your competitors while also being respectful to them.
While setting up your establishment is a humongous task, we attempt to break it down and make the first steps easier for you. For the steps after, you can blindly and completely depend on Petpooja’s POS system to ensure your restaurant functions smoother than butter. With a host of services and marketplaces and vendors available at the click of a button, look no further.
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