Once you have made the decision that you want to be in the restaurant game, the first question you need to ask yourself is should you buy an already established restaurant business for sale, or should you start a restaurant from scratch. Both have their Pro's and Con's.
Buying an established restaurant business for sale would be the much safer option of the two. One of the major benefits would be the fact that the restaurant would have regular clientele. Operating a restaurant that already has customers and is known in the local community, saves you a lot of work compared to a restaurant that has no clientele due the fact that it is a brand new business.
Another reason that buying an already established restaurant business for sale is a safer alternative, is the fact that they already have staff in place that are familiar with the way the business is run. Staff that knows the business and the menu is highly important to any restaurant and can be hard to find. Having to employ new staff for a new restaurant venture is a time consuming process. Not only is it time consuming, but if you try to rush through this process, it could end up costing you thousands. Hiring inexperienced waiters can scare off a customer and with the power of ‘the word of mouth’ advertising, people could soon be turning their noses up at your restaurant.
An existing restaurant usually has all of the marketing and advertising campaigns down pat. By this, I mean that they would have experimented with different forms of advertising, and through trial and error they would have narrowed it down and worked out which avenues of advertising are most effective for the restaurant. This can be quite an expensive exercise.
Starting a new restaurant from scratch always carries more risk. With the right advertising you can attract people who like to try new things, but unless your service, menu and more importantly your food leaves a lasting impression, it will be hard to get those customers back.
Creating a menu that reflects your restaurant is vital. Make sure your menu is not complicated. Giving your customers a menu which has too many dishes to choose from will make your chefs life hell. It also requires you to keep a lot of stock on hand, which increases your overheads. These ingredients are at risk of going out of date because of the big selection on your menu, ultimate costing you money. Keep it simple and reap the rewards.
Search Restaurants for sale at http://www.business-trader.com.au - Australian business for sale Classifieds.