When you are a chef by trade with no real business experience, opening your own restaurant might become a frightening experience when you have to complete the accounts, deal with the local food standards inspectors and organize the payroll and pension facilities for your employees. As you consider restaurants for sale in and around Seattle, should you consider a business manager as a partner to complete the tasks sitting outside of your comfort zone?
Food Is Just a Small Part of a Restaurant Operation
While great food is the main ingredient for a restaurant to become successful, it is just one cog of many that you must get right for the whole gearbox to work. The wine and drinks facilities are just as important for some of your guests. You may spend 20% of your time sat in your office processing paperwork, organizing marketing, interviewing, employing and dismissing personnel. Is this really what you intended to carry out when you decided to look at restaurants for sale, to build your dream?
What Food Will You Sell?
Are you going to sell burgers for a few dollars more than your local fast food operation or will you offer exclusive burgers at twice the price? Have you thought of the policy to make a vegetarian menu that is all-encompassing or are you going to choose locally caught fish as your only option? Understanding your target market and applying a successful menu, priced efficiently and effectively, is a difficult balance to achieve.
What Is the Competition Like?
Are you going to choose an area in Seattle that is full of restaurants so you may gain by passing trade or will you choose an exclusive location where you are the only restaurant in the area, so customers must specifically travel to enjoy your food?
You will have to consider whether there are enough customers within a short drive that can fill your restaurant regularly at the prices you wish to charge. Charge too little and people may think your food and service is below average while charging too much gives you an exclusive opportunity to serve just a handful of exclusive customers.
Fire Up Your Marketing Budget
Filling your restaurant is vital if you are to make a profit, continue in business and be able to pay all of your expenses, including your employees. Your marketing budget might guide you towards restaurants for sale in a specific area of your city. Unless you are an expert with forming a complete branding for your new operation, you might find it difficult to attract customers because until they visit for the first time they may have no idea what you offer.
Nevertheless, a great chef will not let these small thoughts prevent their dream from becoming a reality.
