There are over 1 million restaurant locations in the United States, and 60% of restaurants fail within the first year. How to avoid the common mistakes that plague most new restaurateurs.
Whatever background or level of experience you come from, nothing can totally prepare you for starting your first restaurant, or really starting any business. Even more, no matter how much you read or what research you do, there are certain things about being a restaurateur that you can truly only learn from experience. But the steps below can help get you started on the right track.
Step 1. What do you want to be? Franchise or Start Up? Café, fast food or full service? Mexican, pizza or BBQ?
Step 2. Write your business plan
Step 3. Choose your restaurant’s name and legal structure
Step 4. Capture your website URL and begin design on a web presence and social media.
Step 5. Secure financing
Step 6. Get a tax identification number for your restaurant
Step 7. Register your restaurant for state and local taxes
Step 8. Find and secure a location
Step 9. Hire a General Contractor
Step 10. Hire an architect and begin construction process
