AboutStuart Mullis Expertise Can answer questions on costs, income statements, back of the house, front of the house,bar operations, nightclub, menu design, equipment and restaurant, design.Will be very candid.
Experience 35 years of hotel Food and Beverage as well as Independent free standing full service restaurant business, and Nightclub.
Expert: Stuart Mullis Date: 7/16/2008 Subject: Start a Resturant
Question Hello, I am planning to start a multicusine resturantin Orlando, FL, can you help me as to where I should look out to find a rental space and what would be the approximate cost in setting up the resturant, and what would be the rent and other costs involved in running the business.
Answer Orlando is a very unique city, your success will depend a great deal on the tourist industry.
Remember the 3 keys to success in restaurant business are 1. Location 2. Location and 3.Location
Ask your local chamber of commerce, where are the busy street in your town, the local city traffic department, and state highway folks keep all kinds of records of number of cars traveled. If you have a college or other type schools, military bases etc. in your town, this would also be a good or great location.
I would contact a long standing commercial real estate firm and ask them to provide for you their top 3 recommendation for restaurant space based on your size parameters. If you do not get a satisfactory response from one firm go to another. They can furnish to you things like average utility bills etc.
Try to find a location that was already a restaurant, so that you will not have to install a costly hood ventilation system for cooking.
The approximate cost would vary widely based on the building or space that you choose. Rent will also depend on the size of the building that you are renting. Try to negotiate that your rent will be based on your sales(8%)is a median number.. Therefore as you start out your rent will be lower and as sales grow rent will become higher when you can afford it.
Concept and menu development are true keys to your success or failure initially, and of course service.
Ask your self questions like...
What makes my place unique?
What are my key profitable menu items?
What can i do better than all the others?
How will i get the word out of my new venture with the least cost.
Concerns about location are a key as well, you must be in an area that will buy your product, but, at the same time your first location MUST be one that you can afford.
Maybe a place that is currently closed, that you can change totally the appearance but retain a working kitchen.
I would recommend that you join the National Restaurant assoc. and ask them to put you on the mailing list and to send to you thru their research department, all material on opening your first restaurant. Also ask them the most circulated restaurant monthly free magazine and subscribe to them.
Books that I would recommend:
1. Running a Restaurant for Dummies by Michael Garvey, Heather Dismore, and Andrew Dismore (Paperback - Jul 9, 2004)
2. The Restaurant Dream? by Lee Simon (Paperback - May 16, 2006)
3. Opening a Restaurant or Other Food Business Starter Kit: How to Prepare a Restaurant Business Plan and Feasibility Study by Sharon Fullen (Paperback - Dec 30, 2004)
