Hot to Open Restaurant

In: Business and Management

Submitted By amgalal
Words 5022
Pages 21
Introduction
Based on “Maslow Pyramid” theory, I believe that there are 5 legal business sectors if you decided to invest on it, 95% you will success: 1. Food & beverages Business. 2. Medicinal Business. 3. Educational Business. 4. Real Estate Business. 5. Sexual Business.
I decided to invest in Food & beverages Business by Open a Restaurant!!
Opening a new restaurant can be a risky business venture, but with the right planning, financing and plenty of hard work it's definitely doable. Owning a successful restaurant could be one of the most exciting and rewarding experiences of my life.
The restaurant industry is huge: it turns over an annual $630 billion in America alone. Yet setting up a restaurant is one of the riskiest ventures. Around 60% of American eateries close or change ownership within the first three years
How to open a restaurant? And on which factors the successes of the restaurant will depend on?

A successful restaurant involves more than just good food.
Getting ready to open a new restaurant can be overwhelming. There are some many different areas to consider, from financing to cooking.
I met some of the stakeholders to discuss the issue (Like: Ahmed El Wasseif – CEO of Coral Sea resort), I contacted with some experts (Like: Lorri Mealey / Restauranting Expert- About Money Magazine) and nearly all of them agreed on that the hereunder factors can effect on the restaurants success:

1. Determine a food concept: A food concept is the first thing to consider when planning on opening a restaurant.

a. Are we aiming for a family-style steakhouse, upscale French cuisine or a quick-service ethnic restaurant? Having a food concept will give us potential customers some idea of what they can expect from your restaurant. Determining a food concept from the get-go will also help us to structure and…...

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