The Cuisine Business: Tips on Opening a Successful Restaurant
The restaurant business is worth a staggering $13 billion in Australia, according to IBISWorld.
If you want a slice of this $13 billion dollar pie, Bsale is the best place to find such a business for sale. During and after your purchase you must remember that the competition is heated, so it's absolutely essential that you stand out.
How can you differentiate yourself amongst a vast array of similar competition to ensure your restaurant is a success?
When conceptualising an eatery, the location and the layout are of the utmost importance. Entrepeneur.com ran through what to consider when deciding where and how to open your restaurant:
- It's essential that first and foremost you ask yourself: ' How will this location affect sales?'
- What kind of foot traffic does the location have?
- Is there enough parking?
- How might neighbouring businesses affect your sales volume? Are there similar offerings nearby?
- Will your business make enough money to pay the rent, mortgage and other costs?
Lastly, you must consider the look of your new restaurant. It's essential that your layout and design fit your concept and compliment the food and drink you serve, helping you to differentiate from your competition.
Will your restaraunt stand out from the crowd?
Stand out from the crowd
IBISWorld estimates that there are almost 26,000 restaurants in Australia. There may already be thousands in the city you're opening in, so if you're eatery doesn't stand out, you will struggle.
When buying a new cafe or restaraunt and conceptualising your business, you must consider the following and ensure that they come together to form a cohesive and unique whole:
- What kind of food will you serve?
- What will the atmosphere be like: consider lighting, dining room design, music and seating.
- What will the service be like: from the counter and casual, formal table service, or something in between?
The only restaurant in Australia to make the prestigious San Pellegrino World Top 50, Attica, is a triumph in perfect execution of a simple concept. A sparse but elegant dining room and attentive service emphasises the locally sourced and unique cuisine on offer. All this in a nondescript Melbourne suburb – proof that the right concept can see global success no matter where it's located.
Hire the right people
There's approximately 85,000 chefs in Australia right now.
There are approximately 85,000 chefs in Australia right now and only 5 per cent are unemployed, as reported by Australian Government Job Outlook.
As a result, there may be slim pickings when selecting the right chef – a conundrum that might present itself when hiring every staff member at your new restaurant.
Take time to consider your hires, and ensure that they can compliment the concept of your restaurant regardless of how small the talent pool may be.
When buying, purchasing the right business and premises is just as important as hiring the right people (if not more). So start your search on Bsale, where you'll find a comprehensive list of most of the businesses for sale in the country!