By Eli Patterson, Contributor
All of us have heard the age-old marketing adage: It is all about location, location, location. In no business does this adage hold true as much as it does in the restaurant industry.
If you have an excellent location for your eatery, you have got it made, and you can rest assured that people will come to your place in droves, without you making all that much of an effort towards attracting them.
As a matter of fact, your location would be the ideal means of attracting regular customers. Let us take a quick look at how you can go about finding the ideal location for your new restaurant:
Overall Restaurant Space & Size
You will need a lot of space if you want to start a really good restaurant. You can either rent or buy the space you need as per your size requirements. It is simple really. For every single seat in your restaurant, you will need around 5-square feet or so of kitchen space. If it is a small place, you have to keep in mind that for 40 seats you will need 200 square feet or so of kitchen space -- as a bare minimum.
Here it is pertinent to note that larger spaces will almost always reduce workplace accidents. If the place is too cramped it might lead to burning oil splashing around, inadvertent slips-ups, and the like. You will have to factor in the overall size of both your eating area as well as your kitchen area in your search for a suitable location. Since it is such a big space, it would be unrealistic if you try to renovate it all by yourself, therefore consider seeking help from general contractors.
Think Local Demographics & Psychographics
Demographics are very important when it comes to choosing the ideal location for your new restaurant. It includes certain crucial factors such as the average age, mean income level, family size, etc. in a specific geographical area. Once you know the local demographics, you can plan your menu accordingly and at a price point that the area’s residents will be comfortable with.
Apart from that, you also need to know precisely how your customers will think and perceive your offerings. This is the part where psychographics come into the picture. If demographics give you the answer to who will buy your products, psychographics will tell you why they will do so. You can glean a lot of information from the census reports of your target area while talking to people who will tell you what they want in a restaurant. Here, you will have to conduct a certain amount of market research on finding the right location. You may use residential proxies for this purpose.
Parking
This is another crucial element that you must take into consideration when looking for a suitable location for your eatery. While Uber and public transit is fairly reliable in urban areas, it’s not the case in every town. If your new restaurant location lacks those amenities, than you’re definitely going to need parking. If there is no parking, potential guests are liable to leave for an establishment that has provision for their vehicles. It does not matter what kind of eatery you have in mind, without parking facilities, it might not be possible to cater to your hungry clientele.
Crime Rates
The crime rate of the area is also an important factor. No one likes to get mugged while or after finishing a good meal. If you locate your place in a crime-infested locality, you will lose out on clientele, because people will be too scared to visit, regardless of how good your club sandwiches are, for the discerning consumer.
Accessibility
It has to be an easily accessible location. If you make your restaurant miles away in the boondocks, it won't get many customers. Yes, some restaurants are able to cater to customers while being located on the highway or other such places, but that also depends upon the kind of customers they want to attract. A fine dining restaurant won’t do well at such a location.
