Starting a business can be exciting but it takes careful planning, patience and commitment to be able to launch it right. The challenges can also be overwhelming particularly for first time entrepreneurs planning to start a brick and mortar business such as a cafe or restaurant.
For consumer service businesses that require a physical shop, existing and aspiring entrepreneurs should make a checklist that will guide them in finding the right property. By doing this step, you can be sure to achieve your goals and sustain your enterprise for the long term.
Do Your Research
Before going on a hunt for the best location, make sure that you do your homework first. Find out the demographic overview of the area you are considering and that includes the number of households as well as the age and income of people living in the area.
Other factors to take into account are the traffic generators in the neighborhood such as schools, colleges, hospitals, industrial and office parks. Highway and foot traffic in the area should also be noted.
The next step is to search for the property for your business. For a restaurant or cafe, you need to find one with enough space for your customers to enjoy your food and drinks. You can choose a small space that you can afford to rent for a start and expand later on when your business grows and gains more customers.
When choosing a property, look for one with a welcoming and relaxed atmosphere. Take note of structural and decorative features and determine if an al fresco seating area is possible in front of the cafe or restaurant. This is a great way to attract people passing by particularly during the summer season.
The exterior part of your business should not be taken for granted as well. Keep in mind that first impressions last the reason why you need to make your cafe or restaurant’s exterior attractive by using the right paint color and captivating signages. A professional, friendly and welcoming exterior is crucial in attracting people’s attention.
Large windows facing the street are also necessary for cafes and restaurants. They give people passing the area a glimpse of the atmosphere inside and the food offerings of the place. Also, the windows can accommodate ads such as promotional stickers and posters.
Finding the right location is extremely important as it can make or break your business. It should be a priority to ensure that you attract more customers and achieve your sales goals moving forward.
Factors that you need to seriously consider are the area’s accessibility including proximity to public transportation. If your business is outside the city center, you may need to provide a parking space or at least ensure that you are near parking facilities.
Finally, do not forget to check on the other businesses within the area and that includes your competitors. This will help you determine what you can offer people who frequent the area.