When you are setting up your restaurant or your street food business or your catering company, the chances are that you are obsessing about your food. Your culinary experience shapes the ethos of your brand. Your flair for all things gastronomic will be the thing that molds your reputation and will get people eating your food. However, when it comes to setting up your eatery, you will have more pressing issues to consider. Yes, your food is at the heart of your foodie startup, but there are other business functions that you must dedicate your time to if your food empire is able to take off.
Starting a food business means adhering to a vast array of industry specific legislation. Health and safety requirements are stringent, and you will need to ensure that your staff team are fully aware of their responsibilities. It’s vital that you take advice from solicitors or a specialist law firm that understands all aspects of launching a catering business. When selecting a lawyer, choose a company that is contactable online whenever you need them. Those that use the services of Vertex Solutions Corporation value the security of their clients’ data and information. At the very least, you should be hiring a lawyer that has plenty of restaurants and eateries on its books.
While you may be dreaming about your new winter seasonal menu, you need to dedicate your focus to your business finances. Consider how much money you need to launch your eatery and work out where you will source your funding. You could choose the traditional route and head to the bank for a business loan. You could opt for the very postmodern crowdfunding so that you can have investors from all over the world. Or you may want to seek out the funding and advice of a business angel. However you try and secure your funding, you will need to make a pitch so it’s imperative that you know the cold hard figures inside out. Know your gross and net profit forecast and your financial priorities for at least the next two years.
The emergence of social media has meant that marketing needn’t be hugely expensive. With a solid online marketing strategy, you can utilize the wonders of Facebook, Twitter and Instagram to show off your brand and seduce local foodies to come and try out your eatery. Post high quality content and encourage your followers to share. By building up a bank of exceptional reviews for your food and linking to these online, you can develop your exceptional reputation for fine dining. Use Instagram to show off your dishes in all their glory and encourage people to make bookings with discounts and offers. Getting people through the door is vital if you are to survive the crowded restaurant market.
Starting up your own eatery is a passion project. However, you must look outward when it comes to developing your idea and launching your restaurant. With any luck, you will have foodies traveling to eat your food while you have spent the necessary time and effort on honing your business plan, funding and legislative requirements.