Have you been thinking about opening a restaurant, but you don’t have much money to open one? Take heart; you don’t need to be swimming in dough, pun intended, to open a restaurant, nor do you have to take out a big loan. Opening a restaurant is doable, and you will be empowered with the knowledge in this article.
If you are considering owning a restaurant, the first thing you must have in place is a business plan. A thorough business plan includes the credentials and experiences you have as a business owner, as well as a list of your goals, like when you want to open. Some other factors that should be in your plan are a detailed budget that shows projected startup costs and profits, in addition to whom you want your target audience to be, and how you’re going to promote and market your restaurant. Maybe this is the first time owning a restaurant. Think about the life-experiences that you bring to your company and the role that you want to have. Yes, you’re the owner, but there’s more to that role than meets the eye.
One of the first things you want to do is to narrow down your food selection. Why is this so important? Deciding on the foods that you serve your patrons will help you determine other factors for starting your business. For example, if you decide you want to serve tacos, enchiladas, and rice bowls to your customers, you may decide you want to serve lunch, instead of serving lunch and dinner. You also need to think about the beverages you want to offer your guests. If you only want to serve lunch, maybe you should consider opening a food truck.
Starting a food truck business is an excellent opportunity to get your feet wet and see what it’s like running a restaurant. Starting a food truck restaurant is much more manageable financially than it is to open a full eatery, like a diner. Usually, food trucks cost approximately $5,000 -$25,000 to start whereas a small restaurant costs about $50,000 – $75,000 to open. Food trucks also have less maintenance than if you had to maintain an entire building. Food trucks typically serve only a few items because they have limited storage and cooking space, and they usually serve lunch. As mentioned above, keeping your food and beverage choices limited will also keep costs to a minimum.
Another option that you may want to consider is opening a catering business. Catering events is a juggling act, and it is essential to maintain open lines of communication with all your clients, especially if the event is a wedding, or graduation, or Bar Mitzvah. You will also learn how and when to serve the food and what it takes to keep the food fresh for an extended period. According to The Balance.com (https://www.thebalance.com/easy-restaurant-ideas-2888618), “catering parties offers you the chance to plan menus, interact with customers, and organize and oversee staff.”
Starting a food truck or a catering business is an excellent way to become familiar with the restaurant industry, as well as gaining insight if this is something that you want to pursue. Both options are a unique way for you to decide if you like the restaurant industry. The best part of this is you can always grow the food truck and catering company into a full-scale eatery where your customers can relax and dine. Think big even if you start out small, there’s always room for progress.
