How to Start a Small Business
How to Start a Family Restaurant
Launching a family restaurant can get you on the path to a secure financial future if you have the creativity and tenacity necessary to be a successful entrepreneur. We provide a few secrets that demystifies what it takes to be successful.
Wondering how to start a family restaurant? We take you step-by-step from start to success.
Writing Tips for a Family Restaurant Business Plan
We know - writing a business plan can be a daunting task for a new entrepreneur.
Learning how to draft a family restaurant business plan isn't difficult. In its simplest form, a business plan is a document that describes your company's goals and your strategy for achieving them.
When you compose a business plan, you formally document the rationale behind your entrepreneurial vision. The information in your plan (and your rationale) are essential for lenders, investors and other people who have a stake in your company.
If you still aren't sure where to begin, consider taking a look at several sample business plans to get the creative juices flowing.
Locate The Business Near Loyal Customers
Because your family restaurant will cater in large part to local customers, make sure you choose a business location that is nearest to your best customer base. Understanding how to choose the right location for business is critically important.
Assess Competitors
Prior to opening a family restaurant in your town, it's worthwhile to find out how strong the competition is. Use the link below to find competitors nearby. After following the link, enter your city, state and zip code to get a list of family restaurants in your area.
If there's too much competition, it may be wise to consider starting the business in a less competitive marketplace.
Finding a Non-Competitive Business Mentor
If you are interested in starting a family restaurant, it's essential that you talk to somebody who is already in the business. Local competitors are not going to give you the time of day, mind you. The last thing they want to do is help you to be a better competitor.
Fortunately, somebody who runs a family restaurant outside of your community may be more than happy to give you a few tips, given that you don't compete with them in their area. In fact, they are often very willing to share startup advice with you. It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
How do you locate a family restaurant manager outside of your area who is willing to talk?
Easy. Find them using our link below and start calling until you are successful.
Purchasing a Family Restaurant
At Gaebler, we're big advocates of buying a family restaurant instead of a startup. Yet the process of buying a family restaurant introduces a new set of challenges.
As you would expect, there are a number of steps in buying a business. For most prospective business buyers, the first step is to contact a business broker.
A good business broker serves a number of useful purposes. From locating available companies to helping seal the deal, your broker will have the experience and skills to help you successfully navigate the purchase process.
Is Franchising the Right Option?
Would you risk your startup investment on a coin toss? Probably not. But if you're launching a traditional startup, that's essentially what you're doing - gambling your future on a 50/50 shot at success.
To protect your investment, it's worth considering the possibility of starting a franchise. Leading franchisors offer the support and resources that are often lacking in startups. Some of the most successful entrepreneurs rely exclusively on franchise business models.
Our family restaurant franchise directory is full of valuable information to help you determine whether a franchise opportunity may be a wise first step for your business.
Entrepreneur Interviews
These interviews should be of interest to you.
Related Articles on Starting a Company
These additional resources regarding getting started as an entrepreneur may be of interest to you.
Share this article
Additional Resources for Entrepreneurs