The top 5 things to remember when setting up a restaurant...

1. People will always have to eat... This is the one reason that, no matter where, no matter what the economic situation, people will eat, and some of them, if you get it right, will eat in your restaurant...


2. Know your audience... This is one of those obvious, but cannot be repeated enough nuggets of advice... If you know the people who you are trying to sell your food/experience/service/product to then you will save yourself a lot of experimentation (and thus loss-making) time... It could be the difference between staying afloat and sinking!


3. Location, Location, Location... Again, obvious maybe, again, overlooked too often... Need I say more... Do your research... Sit in a parked car outside your potential location counting people going past, for a week, if need be (it works, I know from a friend's experience), but do your research.


4. Crunch those numbers, again and again... It is a well known fact that restaurants do not make money for months, often years (if you have not broken even after two years, get out, cut your losses and run... It just isn't worth it) But the number of people going into the final stages just before opening, all capital outlay paid etc. who have forgotten that for the first month they have to buy food and throw most of it away... Just make sure you don't become another one...


5. If you can go into a different business, do! You should only be going into the restaurant industry if it your passion, if it is what you have always wanted to do... It will be your life, and in order to succeed it probably helps if you are slightly mad...