5 tips for aspiring restaurateurs

Successfully open your own restaurant business
Alexandra Gorsche © Conny Leitgeb Photography
8. August 2023 | 
Alexandra Gorsche

5 tips for aspiring restaurateurs

Successfully open your own restaurant business
Alexandra Gorsche © Conny Leitgeb Photography
8. August 2023
|
Alexandra Gorsche

Opening your own restaurant is a big dream for many people. However, it requires thorough planning and implementation in order to be successful in the industry. We reveal five tips for aspiring restaurateurs to pave the way for the successful opening of a restaurant business. From market analysis and location selection to customer loyalty.

1. market analysis and target group identification:

Before embarking on restaurant business planning, a thorough market analysis is of great importance. What are the current trends, the preferences of potential customers and the competitive situation in the chosen region? A comprehensive market analysis helps to identify the target group and tailor the offer to their needs.

2. location selection and concept development:

Choosing the right location is a decisive factor for the success of the restaurant business. Factors such as footfall, accessibility, parking facilities and proximity to the desired target group can be decisive or at least helpful. A well-chosen location can have a significant impact on sales. Simply be different and unique! Make sure you stand out from the competition. A clear positioning and an individual gastronomic concept can help you to differentiate yourself in a highly competitive market.

3. financial planning and resource management:

Sound financial planning is essential to ensure the financial stability of your catering business. Nowadays, nothing works without a detailed business plan! All costs need to be taken into account: including rental costs, staff, food, equipment and marketing. Unforeseen expenses are always lurking. A sufficient capital reserve is important to avoid financial bottlenecks. Statistics show that the start-up rate for accommodation and catering businesses in 2021 is 4.4%, while the closure rate is 5.8%. A solid financial basis is therefore crucial for long-term success.

4. team composition and training:

The right team is the key to success in the restaurant business. Qualified staff is advisable. But even more so is a team that shares the same passion and enthusiasm for the industry. Investing in training and further education to continuously improve the skills and expertise of the team should definitely be taken into account. A well-trained team can have a positive impact on the customer experience and help create a pleasant atmosphere.

5. Customer retention and marketing:

Customer acquisition and retention are essential to the success of the restaurant business. Marketing channels such as social media, an informative website and targeted advertising campaigns to reach the target audience are essential these days. What do guests expect? A unique experience, excellent service, great food - because only then will guests become fans and regular customers. Studies show that an extremely satisfied customer can generate up to 14 times more revenue than a dissatisfied one. Feedback systems can help to collect customer opinions and continuously work on improving the offer.

From market analysis and location selection to customer retention, thorough preparation and consideration of these tips will help maximize the chances of long-term success in the restaurant industry.

A la table, s'il vous plaît! A la table, s'il vous plaît! A la table, s'il vous plaît! A la table, s'il vous plaît!
Copyright for the featured images used:
StockSnap/Pixabay

International. Market & Innovation

Expansive and innovative: the trends in global gastronomy

The international food service market is becoming increasingly dynamic with innovative concepts and new players. International and European chains in particular are gaining in importance and expanding worldwide, such as Dishroom and Sexy Fish Miami. One example of this is Pret a Manger, which is also increasingly establishing itself in various countries, as are L’Osteria and Sticks’n’Sushi. Ikea is also breaking new ground with its own restaurant concept, as demonstrated by the opening of an independent restaurant in Hammersmith, London. This illustrates the increasing bundling of chains and the transfer of successful restaurant concepts to new markets.

Culinary Perfection

Guide MICHELIN Austria 2025 Crowns the Best Restaurants and Hotels

For the first time since 2009, the Guide MICHELIN has evaluated the entire Austrian gastronomy scene, bringing it back into the international spotlight. While in recent years only the cities of Vienna and Salzburg were included, 2025 marks a new era where the entire country shines in culinary brilliance. This comprehensive reevaluation not only honors the exceptional diversity and quality of Austrian cuisine but also reestablishes the Alpine Republic as an indispensable global gourmet destination. A truly extraordinary year that underscores the significance of gastronomy as a cultural and tourism treasure.

New guests

Baby boomers, Gen Z & Alpha and families are our future

The food service market is changing rapidly and offers numerous new opportunities, but also challenges. Social structures and target group needs have changed dramatically. Germany is a strong country for single diners, who value a nice ambience and visit restaurants for the individual experience, and for older guests.

quick & dirty
Erfolgreich den eigenen Gastronomiebetrieb eröffnen © StockSnap/Pixabay
5 tips for aspiring restaurateurs

Opening your own restaurant is a big dream for many people. However, it requires thorough planning and implementation in order to be successful in the industry. We reveal five tips for aspiring restaurateurs to pave the way for the successful opening of a restaurant business. From market analysis and location selection to customer loyalty.