Question by Pimp G: How do you start a small Restaurant Business?
Hello I would like to know if any one can explain the step bye step process of getting started in a small
Business. When I mean step bye step I mean every thing from finding a good location, to buying the location, getting a business loan, getting a business license, and making sure your place of business is up to code. Etc.. I would like this info to be about owning and running a dinner. I really don’t know much about
This field I just know that owning a dinner is something I really wanna do
Other things Im not really sure how to do
Paying taxes at the end of the year on your business
Insurance on your company and employees
Finding good places to buy your products from
Pricing your menu items
Coming up with unique menu items that sets you apart from the competition
Marketing your business
Managing your expenses
And any thing else that I did not mention that im sure to need
Also im sure your asking yourself if I don’t know any thing about the business why
Am I going into it well the answer is I will be going to school to learn more about it
I just wanna get any tips and as much information about it now so I can be ready.
Answer by Flyby
The best way to learn about the restaurant business is to work in it. Find a restaurant such as you would like to own and go to work for them. As an owner you need to know how to do every aspect of the business. I would try to do as many jobs as possible and try to work into a management position. It is fine to go to college but they don't teach you how to run a business in school. You learn those skills on the job. I think you should go to college, but finding a job in the business would bring things into perspective better than relying totally on books for your learning.
Payroll taxes are paid quarterly. You will need workers compensation insurance on your employees. There are numerous restaurant supply businesses. Again, the best place to learn about suppliers is from your employer while working in the industry. Menu items can come from market research. See what is available in the area where you want to locate and start talking to patrons. There are a lot of ways in which to market a restaurant. Direct mail, radio, TV, Newsprint and local magazines. It depends on who are your most likely customers. You can find most of your answers by working in a restaurant and working your way into management. Keep in mind that restaurants have a very high failure rate. I am glad to see you plan far in advance. Good luck.
Know better? Leave your own answer in the comments!
Wildfire Video Marketing
Learn To Harness the Power of Video Marketing to Drive Massive Traffic to Your Sales Site. Leading-Edge Video Marketing Strategies Revealed!
Wildfire Video Marketing