A Passionate Belief In Your Restaurant Concept Is The Driving Force
That Can Turn A Dream Into Reality.
Are you dreaming about being your own boss, running your own restaurant, and earning your own way, then explore the possibilities. More than 23 million Americans own small businesses. About 800,000 new businesses are opened each year. From engineering firms, to bake shops to home offices, small business is rapidly growing.
Entrepreneurs are dreamers who see all the possibilities. Very quickly the successful dreamer can develop ideas into plans for profitable realities. Can you make money with this business? The answer needs to be yes, before you go any further. If you are considering entrepreneurship, gather information and obtain advice. FREE 30 minute counseling will help you decide if being in business is right for you
You can become one of 23 million risk takers and success makers!
Passion is contagious. If you are passionate about owning a restaurant, that passion will come through to the customer.
Dreaming, Passion And Research Equal Restaurant Success
To successfully start your restaurant business you need to effectively convey your concept.
Without identifying your concept, you really can’t begin to make your dreams come true. If there is one thing I want to do its make your dream of owning your own restaurant come true. It’s the sole purpose of my business, website and blog!
Your concept should succeed in appealing to diners. If you can’t get them excited about your concept, don’t expect them to dine there.
At the bottom of this page is my FREE down load PDF guide How To Find Hard Core Information On Your Ideal Customer
In-depth market research is needed to substantiate your concept!
Get a clear vision into the industry through anticipated sales, customer spending habits, dining traits, operational trends and industry workforce trends.
Target Market Research
The ideal customer profile for the concept, determine the preferred target market that your concept best appeals to.
Identify the preferred market size of residential and business population and their proximity.
Determine the importance of traffic generators for your concept such as malls, theaters and universities.
Site selection is often considered the most crucial aspect of the business. In order to find the right location you must research demographic statistics, description of local industry and economic outlook, location traffic counts, traffic generators, residential and business population and proximity.
List the surrounding neighborhoods, points of interest, and area businesses.
Useful information can come from your real estate broker or property management staff.
They have access to demographic information that is more specific to the immediate area surrounding the location. They can provide you with reports for one, three- and five-mile radius’.
They oftentimes subscribe to services that specialize in collecting and analyzing data that is not publicly available.
Researching the local competition, in terms of proximity and similarities to your concept, is an important factor. Estimating your market share is extremely important.
You need to know the extent of market saturation, the other restaurants in the area, to be in direct competition with your concept.