Estimates claim that there are over one million restaurants in the United States, which together employ over 14 million people. As you’ve likely figured out already, this means that most restaurants are small businesses with no major corporations to back them up.
This is unfortunate because running a restaurant is quite tough. Over half of all restaurants fail within the first year, and the vast majority don’t make it past five years.
While running a restaurant is challenging, it isn’t impossible. In fact, you can raise your chances of success quite a bit by following a few simple tips. We’ll discuss some of those tips in this article.
1. Choose a Good Location
There’s a reason you never see restaurants on random country roads twenty miles from the nearest town. Nobody’s going to go to a restaurant that’s hard to find or is too far out of their way.
Try to build your restaurant in a population center. It doesn’t have to be New York or LA, but there should be at least a small town’s worth of people living there.
For this reason, it’s important to do market research. Try to figure out what town needs a restaurant and what kind of restaurant they need. There are often easy and affordable ways to do this research, like taking a clipboard and writing down answers to a survey.
2. Choose the Right Menu
So much of a restaurant’s success depends on what they’re serving. An otherwise good restaurant can fail simply because somebody else in town did it better.
For instance, most of us wouldn’t start a family-owned pizza parlor in downtown Chicago. It’s the birthplace of deep dish. We could make some incredible pizza but we won’t make a dent in that market.
This is why it’s important to look around your location and see what the town needs. Do they have a good steak place? If not, try becoming a steak place to attract customers.
3. Choose and Treat Staff Well
Many business owners emphasize the importance of hiring the right employees and keeping them around. A happy, well-trained staff is essential to every part of your business, and even the restaurant cleaning services you use should be treated well.
There are a lot of things that go into keeping your staff happy, but it’s also important to understand which ones are realistic. We’d all like to offer our employees flexible hours, help with their education, and whatever else they need, but small businesses can’t always do that.
One thing that we can do is pay our staff well. A smaller staff with higher wages can often be more productive than a large staff with low or even average wages.
Successfully Running a Restaurant: A Guide
Running a restaurant is notoriously difficult, but it can be much easier if you know what you’re doing. We’ve offered some advice for running a successful restaurant in this article, but there’s always more to learn.
If you want to know more about various kinds of small businesses and how to run them please visit our site.