With the business boom that is occuring in our local area and the desire to improve overall profit margins, the company is planning to shift its target market from residential clients to the larger commercial customers. In the original company was merged with another small scale local company, West General Contractors and the company began to bid successfully for larger scale projects. As part of its growth and altered focus, FCC is planning on changing its charter from a limited liability company to a class C corporation registered in Texas.
Restaurant and office supplies Step 2: This would, of course, make it easy for you to manage. If you open a second location so close to the first one, you may limit your customer pool. Examine the restaurants in your proposed new area.
Are they doing well? Is your concept unique to the area? On the other hand, if you are considering opening a deli in a busy downtown area, and you observe that the other delis are full to capacity during the lunch hour, it might be a good area for your restaurant.
Spend time in the area of your proposed second location. One restaurant entrepreneur says you should find out how many households per restaurant are in your potential neighborhoods because these numbers are also helpful in choosing a location.
Make things easier on yourself by doing things the same way. That is, of course, if they worked the first time around.
Manage your growth and expansion by duplicating systems. Things run smoother if both of your restaurants use the same accounting and inventory management systems, technology and website platforms and HR practices.
For example, you already have an employee handbook for location 1 — duplicate it for location 2.
Ensure consistency and quality control at both restaurant locations. Write and Execute a Marketing Plan Is your marketing plan ready for two restaurants? You need to market your second location with as much fervor as you marketed your first location.
You can duplicate the successful marketing tools. You also need new printed materials with your new address. If your concept is the same, you can add your new location to your current website.
Leave a current manager in charge of your first location so you can be at the new restaurant in the early stages of its launch. No one is going to care about the success of your second location like you do.
Be careful with your first location. If you are going to manage the new restaurant, make sure you put a manager in charge that your employees trust.
Check in several times a week so they know you value your first restaurant and their skills. Owning two restaurants is an immense amount of work. Delegate some of the responsibilities. This could be inventory management for locations, your finances, your marketing or your website maintenance and development.
Your first restaurant is a grand success, which means you most likely have superb staff members.
Take a careful look at your current staff. Make a list of their best and least desirable qualities. Use this list to hire new employees.
Use their expertise to help train your new staff.
Additionally, have your new second location staff shadow your seasoned employees at your successful location. Share your ups and downs using the form below.
Our readers can benefit from your good advice.7 Considerations for Restaurant Business Expansion As many of my favorite food trucks begin to go brick-and-mortar, I thought it would be a good time to talk about business expansion.
Business expansion is a consideration for owners who have experienced tremendous growth, but it comes with many difficult decisions.
Restaurant Business Plan: How to Open a Restaurant Startup and Be Profitable Within the First Year - Kindle edition by Cory Sutherland. Download it once and Reviews: Restaurant Loans: 4 Options for Your Business November 26, or are established and looking to expand or renovate your operation, finding the right restaurant financing is an important decision.
a great business plan, and everything else to back it up qualifying for a loan will be a cakewalk. If not, this doesn’t mean you won’t.
Create your own business plan Business planning has never been easier. With complete sample plans, easy financials, and access anywhere, LivePlan turns your great idea into a great plan for success. A restaurant business plan is the most important ingredient for when you open a new restaurant.
A roadmap to success, the business plan will outline the opportunities and potential pitfalls your new restaurant will face. Our initial statement to Investors and Financial Lenders is a candid disclosure of the Zara Restaurant & Lounge business proposal - our intent is to set realistic business expectations, and eliminate any questions about the profitability of this business venture.