Going into business can be very exciting. You are going to be in charge of your own destiny. And there is no better industry to go into that the food and drinks industry, particularly if you have a passion for creating tasty meals or sourcing the best drinks that you can find.
You will, of course, need to have a full and thorough business plan, and it is worth going into business alongside someone who can balance your skills. If you are the expert in the food or drinks, you may need someone with the business head, or vice-versa.
When creating your business plan you will need to determine how much your business is going to cost you to set up and then attempt to estimate projected incomes. You will need to consider that your business may not take off quickly and the first few months or even years worth of takings will be too low to even break even. You should also keep in mind that startup budgets often run over, so you should overestimate and budget a contingency in your plans.
Develop Your Menu
Whether you are more about the food or the drinks, you will need to have a menu that covers both areas. This is what people are coming in for. Niche venues are especially popular these days, for example, there has been a sharp rise in vegan restaurants and gin bars in recent years. Think about the niche that you want to work in.
Try your menu out. Make the items and work out full costings for everything. You need to have enough of a varied choice that your customers don’t feel limited. But you don’t want such a big menu that you overwhelm yourself or need to hold lots of stock that you may not use so often.
Find Your Premises
Start looking early for the premises. You may have an ideal spot in mind where you would like to be situated, but you need to be realistic about rental costs and what you can afford. Do some research into the prices of rent in the areas that you are considering.
Fit Out Your Venue
Once you have your venue, then you will obviously need to fit it out. It is worth hiring a professional to do this job if you can afford it. You will end up being left with a good quality finish that your customers may enjoy.
When it comes to fixtures, think about getting good quality hardwearing items such as Contract Furniture in order to get durable items that will withstand the heavy use that they will get.
Opening
When you open, make a splash. Invite any local celebrities and dignitaries. The publicize the event on social media. The more of a buzz you can create surrounding your business in the run up to your opening day, the better.
Once you are open, keep a tight relationship with your social media account and ensure you use it to attract in the crowds.
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