7 Things to Consider When Picking a Restaurant Location

By Rachel Argyle

Before you create a business plan and strategy, dream up a restaurant theme or get your hands on a business loan, you need to think thoroughly about where to situate your restaurant. Researching the location is absolutely crucial in the early stages of your restaurant plans. The more prepared you are, the less likely you will be to fail. Among the things you should consider:

1.) Population Density: The best place to locate a restaurant is in an area with a high population (or that is easily accessible). One way to establish the population base of an area is to check the US Census.

2.) Accessibility: A number of restaurants are located on busy roads which are convenient for motorists or perhaps on a street close to a high density of shops and businesses, with a lot of foot traffic during lunch time or after work. An often overlooked issue, is the road traffic system and whether the restaurant is on a two-way accessible road or a one-way street. Accessibility issues can also include whether the location is safe and easily adaptable to suit customers with a disability.

3.) Visibility: Whens setting up a new restaurant business, the best way to gain customers is to make the venue visible. Visibility is essentially free advertising and reminds people that you are open for business. A good sign should be easily legible from at least a third of a mile while driving 35 mph.

4.) Parking: Local code may vary but you should plan on one place for every three seats in the restaurant. Ideally, a restaurant will have its own parking spaces for customers. If this is not possible, consider a location close to a good parking area or within walking distance and access to public transport. Also, if you are going to be open at night, take into consideration lighting costs.

5.) Size: When viewing a possible restaurant location, try to imagine it full of kitchen equipment, dining tables and chairs, staff and customers. Empty properties can look appealing but might look tight when it is up and running.

6.) Competition: It is important that you get a good feel for the neighbourhood and the other restaurants located nearby. How have other restaurants done in the area? Are you offering something new?

7.) Previous businesses: Again research will help you learn whether any previous restaurants have existed in the same location... and their fate. You can learn a lot from the mistakes and successes of your predecessors and these can often be tell-tale signs of whether you are picking the right restaurant location.

Raising Funds For Your Restaurant?

Foodstart helps restaurants, food trucks, breweries, cafes, and others in the food-and-beverage industry raise capital in small increments online.

The idea: create a network of people who want to see your business succeed and you will increase the chances that you actually will. It's the same reason the Green Bay Packers created 300,000 shareholders and the Obama campaigns raised money in five-dollar increments.

Here are some of the ways Foodstart can help you raise money for your business:

 

Pay Backers with Free Dessert, not Cash
With Foodstart you pay backers only in free perks and rewards that you determine in advance. Try getting Bank of America to do that!

 

Social-Media Marketing Program
Foodstart will provide online ads, campaign consultations, custom-designed fliers, custom Twitter and Facebook updates, and even will draft and distribute press releases - for free! more info

 

Seed Match
Foodstart will seed your business with $1,000 - just raise at least $5k from at least 20 different people.

 

Physical Backer Cards
Foodstart will send every backer a card they can use to redeem rewards.

 

Low Fees
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Familiar Payment Platform
People back your business using their existing Amazon.com account.

 

Let's get started...

 
Minimum Amount: $500
Maximum Amount: $50,000
 

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