Choosing Your Restaurant Location

Before you choose your restaurant location you must determine your target market. Your target market is the group of customers you have decided to market it to. Having a well-defined target market is important because it allows you to tailor your business to a specific taste and audience. Location plays a huge role in the customers you will attract. Before choosing your restaurant’s location consider the type of eatery you want to open, your menu pricing and surrounding competition.

There are many different types of cuisines and restaurant styles. You must define your restaurant. Do you want a buffet or fast casual eatery? Perhaps you would like to own a fine dining restaurant or is a cozy café more your style? Know what you’re looking for and how a location would support your restaurant. It’s important to note that fine dining locations will likely cost more. People choose to splurge on fine dining for special occasions or as a treat and expect an attractive atmosphere. Fine dining restaurants tend to work well in cities near entertainment venues. Use local demographics to better define your target market.

It's best to consider creating your menu and pricing before selecting your location. Knowing the cost of menu items will help you identify an audience within your price range. It is easy for a business to fail if their price surpasses their audience’s budget. For example a college campus near an inexpensive pizzeria will likely be successful. College students will likely enjoy the low cost and casual atmosphere. Compare your menu prices to other local restaurants. Knowing other eateries pricing will give you an idea of what prices you’re competing with.

It is very important to assess a location’s competition before purchasing a restaurant as well. If there's already five well-established steakhouses in a shopping area, it’s probably unwise to place a new steakhouse in that region. Look for areas that are not saturated and do not currently provide your business’s cuisine or style. Making your business unique may help to make it successful. People will quickly flock to your business if it’s unlike anything else in the area. People enjoy trying new and different businesses.

Choosing your restaurant location is a huge step that must be considered carefully. Before you begin looking for a restaurant, know your target market. Know your business’s goals and the customers it will attract. New restaurants have a very high failure rate, this is largely due to a lack of experience and poor location. At Public Kitchen Supply it is our goal to help our customers every step of the way. For more business advice and quality kitchen equipment visit our website at PublicKitchenSupply.com