5 Tips to get off to a great start!
Congratulations! Today you took the 1st step towards your dream restaurant by putting your idea/vision on paper.
To prepare you even better for starting a restaurant, I’ve compiled five tips for you.
#1. Find a mentor
It is advisable to gather around you one or more people who already have experience in starting a hospitality business.
This mentor has already experienced everything once and ensures that you do not have to reinvent the wheel. And also not unimportant that you don’t make the same mistakes.
In addition, a mentor can also provide new insights or ideas.
In short, a mentor can save you time and money.
When looking for a mentor, there are a number of things to consider:
6 things to consider
Look for someone with experience: You need someone who has owned the same kind of restaurant you want to start up, someone who has paid their dues. Someone who can draw on their own experience, someone who can help you move forward. So find out what this mentor has achieved. Is that what you also want to achieve? Google his or her name in advance and you can already find a lot of information.
Share knowledge: You need someone who is transparent and shares all their knowledge. Good and bad experiences are both instructive.
Network: A good mentor already has a lot of connections in the hospitality industry. He may be able to help you find staff, suppliers or a good accountant. Ask your mentor for help. It’s about who you know, not who you are.
Does the mentor have time for you: Starting a restaurant is not easy. That’s why you need a mentor who has time to create a plan and help you achieve your goals.
Beliefs: You need someone who shares your values.
No yes-man: You need someone who will look critically at your ideas, only then will you move forward.
#2. Map out your finances
Before you even think about starting a restaurant take a look at your personal finances. This fact will tell you how much money you need to raise before you can get started.
You may not have any personal income coming in for several months.
The next step is to see how much money you need to live on monthly. And how much money you spend each month.
Also take a look at the savings account and look at other investments. Think about a house or other hospitality ventures that are necessary to mention.
If you work with a partner, openly discuss each other’s financial situation.
Now that you know what your financial situation is, it is necessary to determine how much of your own money you can start investing in your restaurant. Determine an amount for this and stick to it.
#3. Keep an eye on reality.
Speaks for itself. You have a well thought out concept, a building, and perhaps renovations are underway. You are working on a dream. YOUR dream.
Stay with one foot in reality. After all, it would be a shame if by “being in love”/realizing your dream you lose sight of reality.
You will not be the first to fall into this trap.
Before you know it, you’ll be looking at a debt and starting with a backlog that will be hard to clear. If that’s even possible at all.
#4.Don’t start too big
As I’ve mentioned before, a good chef/maître is not a good entrepreneur.
When you start a restaurant, start with a limited number of place settings.
That way you can make sure your team gets used to each other. And that you master the profession of hospitality entrepreneur.
Expanding the number of covers you can do at a later stage.
#5. Set yourself goals
Unfortunately very few restaurant owners use objectives.
That’s a shame because goals give you a clear picture of what you want as an entrepreneur.
The earlier you envision the path to a successful restaurant the better focused you will be. And the greater the chance that your restaurant will be successful.
Objectives run as a thread through your business and help you make choices in private, – and work environment. It can help you decide whether your chosen restaurant concept suits you.
For example, do you want your restaurant to get a Michelin star?
Then you can’t possibly have as an objective that you want to spend a lot of time with family and friends. Simply because you don’t have time for that.
In summary, objectives ensure that:
you stay on track;
you have something to celebrate when you reach a goal;
You have a clear plan for your restaurant