Choosing the right location is critical to the success of all businesses. Where you situate the center of your products or services can make a huge impact on your overall sales and profits. After all, your aim is to get as much customers as you can. Restaurants are no exception.
Learn the factors that comprise a perfect venue for your business. Here are four (4) items to think about if you’re a restaurateur.
1. Identify the demographics of the area. Suppose the audience you’re trying to tap on is career-oriented individuals who are too busy to prepare meals on their own. You have a place in mind already – say a commercial space in Makati, perhaps near the Makati Business District. Determine everything you can about the area – what’s the age range of the workers around the office buildings? Are most of them yuppies? How big is the crowd you will provide your services to? Is the competition level high enough or is it too low? What is the income level of your future patrons? Do you think they can afford to buy and eat your food? Identifying these elements will help you decide if the site is suitable for your resto.
2. Consider its visibility and ease of access. It’s all about being seen and visited. With numerous restaurants in the Philippines, the goal then is to make yours as visible as possible. Have it positioned in a corner that is easy-to-spot and easy-to-go to. Take the land size for consideration. Can you put a big signage on the lot? How easy or difficult is it to reach especially during peak hours?
3. Weigh in the traffic. Are there many people frequenting nearby establishments? If yes, this can mean higher chance of people passing by to grab a bite or two. What about car traffic? Surely, you wouldn’t want to pick a venue where the public is required to brave congested roads just to arrive at your place, would you? Therefore, evaluate both foot and car traffics.
4. Check the parking availability of the vicinity. Do remember that your service isn’t limited to providing nutritious and delicious food alone. You have to think about the convenience of your potential customers as well – can they easily park their vehicles? If there is limited space, can they do so in a public lot next to you? Do you have a valet who can offer alternative service?