Is location a major factor for a restaurant?

Location is a major factor playing vital role in the restaurant business. Even though some of the good restaurants are in Chennai, they aren’t a great success due to lack of planning. Three major factors must be taken into account before opening a restaurant in Chennai.

1. Location
2. Budget
3. Expenses

1. Location:

Get a list of offices especially where people’s concentration is always higher like shopping malls and government offices.  Plan your menu based on the class of people around the locality. For example, if your locality has more number of corporate offices, do concentrate on fast foods compared to South Indian meals. Better don’t get into junkies. Likewise, based on location of the restaurant, one must update their menu accordingly. If a particular dish is selling fast for some time period, analyze the reason for more demand. Using demand and supply theory in restaurant business is the real success. Whatever food may be you are offering, people must need it. If they don’t, your business won’t last longer.

2. Budget:

Yet another factor is budget.  It doesn’t mean spending less money at the start-up. Do remember first impression is the best impression. And don’t forget, just appearance can’t compromise all customers without providing quality food. Have a plan and discuss with industry experts, family and friends to get a glimpse on all perspectives. From these different perspectives, frame the budget and I am sure, you won’t fail.

3. Expenses:

Always have an eye on where your hard-earned money is spent. Spending wisely can also make your economic background stronger. Don’t spend too much for decorations. Instead spend for new variety dishes and training programs for restaurant waiters & managers. Many restaurants lack in training their employees. This may degrade the rank of a restaurant in a short period of time.

If one follows these three major factors with their own gizzard, they won’t fail easily. They will be the role model for future generations. Do get other factors in your mind. I would be happy, if you share your opinions here.