A Concept description in terms of a restaurant is the Business Model. Your concept lays out every aspect of the business.
It’s the very heart of the business!
At this time I’m sure you’ve decided on the cuisine you’ll be serving or at least have some ideas. If you’re still not sure, the best advice I can give you is think about what you do best, what culinary trends seem to stick around and the old standby foods that never go out of style. You also can fill a need for a cuisine that’s not offered in your local area-do your research first to be sure you have an audience for it.
It’s extremely important to decide whether your restaurant is going to be upscale, casual or fast food!
Your Restaurant Concept Is Your Business Model
And Your Choices Are
~Fine Dining ~Casual Dining ~Fast Casual Dining
~Fast Food / Quick Serve ~Food Truck Dining
Once you have chosen one of the above CONCEPTS / Restaurant Business Models it will guide in the following critical tasks:
~ Creating Your MENU
` Deciding your Location
~ Deciding Your THEME
~ Equipment & Small-wares Needed
~ Studying Your Competition
~ Researching Your Market Demographics
~ Developing Strategy’s for Financing, Branding, Marketing and Advertising
~ Identifying Your Suppliers
~ The Staff Needed To Run The Restaurant
As you can see you can’t plan, start or run a restaurant until you have decided on your concept.
Finding the right kind of restaurant concept to open is a combination of deciding what kind of restaurant you want to run. While there are some concepts more up and coming, like fast casual and food trucks. Consider asking yourself these questions first.
What’s Your Budget?
Your budget, more than anything else, can determine what type of restaurant concept you decide on. The amount of money you have for start-up capital will only go so far.
Who Is Your Audience?
Who do you see as your ideal customers? Families, College students, young single professionals, or retired empty nesters. Different restaurant concepts appeal to different types of people.
Who Are Your Competitors?
Are there already three restaurant concepts in your area? Does it really need a fourth? And if so, how will yours be different? You may feel like you can do it better but it is still a good idea to study their menu, prices, and their audience. Their audience is who you are going after and competition isn’t a bad thing, It’s good for towns and cities to have a variety of options when it comes to eating out.
What’s Your Location Look Like?
If you have a location picked out, it can influence the type of restaurant concept you choose. For example, maybe you have a spot picked out in the city near a business community and so, it would be a natural fit to offer quick healthy breakfast and lunches.
The Bottom Line
Ultimately, the type of restaurant concept you choose to open will not be a one-size-fits-all model for success. Unfortunately, there is no one “secret to success” restaurant concept or most profitable type of restaurant. Opening an independent restaurant gives you complete creative freedom.
Follow our blog and learn from experienced entrepreneurs on how to develop the right concept before you START & RUN a Restaurant.