How to open a good specialty restaurant

There are three ways in the catering industry: one is to build a new restaurant from scratch; the other is to acquire an existing restaurant; the third is to lease someone else's restaurant. When making a choice, restaurant operators must proceed from their own circumstances, carefully analyze and choose the pros and cons of the three investment methods, and weigh their respective investment risks. Through comparison and measurement, you can choose the investment method that best suits you to achieve low investment, low risk and high returns.

1. Newly-built restaurants

Newly-built restaurants require higher investment and higher risks, but the benefits are not small, and new-building has the most advantages. Through new construction, the architectural design fully meets the needs of the restaurant, so that the restaurant is reasonably planned, the decoration is satisfactory, and it can highlight the restaurant's business projects and business style; the greater advantage is that it can leave room for future development and reduce the need for supporting projects The worry is conducive to occupying the market. Building a new restaurant is especially suitable for people who own their own land or demolish the original building. Those who are particularly rich and willing to spend a lot of money to do big business can also get good benefits by using this method.

New restaurants also have shortcomings. First of all, the investment is large. From drawing design to construction and decoration, the total cost is hundreds of thousands or even millions of yuan. After that, you still need to solve all the problems involved in starting a business, such as finding a location, making a menu, setting prices, calculating sales, buying equipment, making plans, choosing decorations, and building a system. , find performances, hire staff, and conduct training

If your idea is unique, you have to advertise until everyone agrees. Secondly, it takes too long to build a new restaurant, and the project cycle to maintain quantity is generally about one year, thus losing some market opportunities. Finally, there are risks and high investment will definitely increase the mental pressure of investors.

But if you do have a unique set of insights into the catering industry and have enough funds to turn your vision into reality, then you should have a restaurant of your own, so you will most likely choose to build a new one Restaurants so you can act the way you want.

2. Acquisition of ready-made restaurants

The most common way to acquire restaurant business premises is to transfer and purchase, which is the so-called acquisition. Information on transfer purchases can be obtained from radio, television, newspapers, magazines, and friends. When making a purchase, it is necessary to carefully analyze the original restaurant to find out its advantages and disadvantages in order to formulate a suitable price for the purchase.

The biggest advantages of ready-made restaurants are: first, the funds you invest can be quickly transferred; second, after the acquisition is completed, the original employees can stay, so you can save the need to recruit new employees and The energy of training employees, because they have already accumulated rich experience; third, there is a ready-made production and service system, which can save a lot of advertising and marketing expenses, and use the good reputation of the original restaurant to increase the success rate of the operation. A certain number of repeat customers in the restaurant will also bring a lot of income to the restaurant, and it only needs to invest a small amount of money to purchase raw materials to operate.

But at the same time, you must be very careful about the risks and problems caused by acquisitions. For example, irreparable bad reputation, unqualified employees, outdated equipment or too short lease period will bring difficulties to the acquirer. Come risk. Since it is difficult for buyers to collect complete information about the restaurants they purchase, they cannot accurately evaluate the restaurants, and unfair prices are bound to exist. Therefore, they must understand the business and development of the original restaurants through multiple channels before purchasing. There are many reasons why an operating restaurant is for sale. It is necessary to have a comprehensive and in-depth understanding of the restaurant for sale. Guests who dine in the restaurant should inquire about the service attitude of the restaurant and the quality of the food; they should also understand the owner's management ability from the restaurant employees and have a good understanding of the restaurant's management capabilities. The approachability of employees, understanding some accounting information, turnover, etc. It is not difficult for a savvy buyer to learn more information. The key is to have heart-to-heart conversations with the people being understood and treat each other as friends. After all, if the restaurant is purchased by you, those people being understood will naturally become your customers. Subordinates, your attitude towards dealing with others will also be remembered by them, which can bring you profits.

If you have decided to buy someone else's existing restaurant and are going to inspect it, it is best to invite equipment experts to go with you. You have to believe that the labor fees paid to these people are completely worth it. Because only they can accurately check whether the equipment can produce the food you plan.

After you understand the operation of the restaurant, the next question is to sit down with the seller and negotiate a price tag agreement.

When buyers and sellers negotiate prices, the seller must offer a high price, hoping to sell at a good price and earn both capital and profit; the buyer will keep the price very low and try to reduce the amount of his investment. If the price is fair and reasonable, an agreement can be reached.

A restaurant price assessment is essentially an estimate by a buyer or seller of a restaurant’s profit potential. Buyers and sellers use different assumptions in the valuation process, and the estimated prices can vary considerably. There is a natural correlation between the price of purchasing a complete restaurant and purchasing part of the assets or operating rights of the restaurant; the purchase price of a restaurant in an extremely favorable location will definitely be higher than that of a restaurant in an average location.

Buyers looking to acquire a restaurant can evaluate it in a number of ways. The following are the most common valuation methods: (1) Comparative prices of similar restaurants: based on the selling prices of similar restaurants.

(2) Income method: focus on the annual income of the enterprise. Use income to calculate future return on investment.

(3) Replacement or replacement cost: based on the cost required to replace the enterprise's assets in the open market.

Before you decide to acquire an existing restaurant, you need to do a thorough research on it. When both parties can achieve their own interests after negotiation, a sales agreement can be drawn up. The sales agreement should not only detail the obligations and responsibilities of the buyer and seller, but also stipulate how breaches of contract will be handled. A standard sales agreement should also provide that disputes between the parties should be resolved by an arbitration institution. A sales agreement protected by law should include the following content:

First, property description: The sales agreement must first list the detailed address of the property. The description should be as accurate as possible and no ambiguous words should be used.

Second, the purchase price: The sales agreement should list the price agreed upon by both parties, and list the prices of various items by category. The sales agreement stipulates that if unexpected losses occur or the actual situation of the restaurant is different from that when the parties signed the contract, the final selling price shall be determined.

Third, other terms. Other terms in the sales agreement should detail that the seller must provide proof of ownership, business license and related licenses for the restaurant when transferring the property to the buyer; that the equipment will be handed over in good condition; that the buyer has the right to inspect the building and that the buyer has the right to transfer any building code violations. The seller renovates or compensates; the buyer has the right to know whether all the seller's debts in business activities have been paid off, so as not to be forced to pay off the seller's debts after the transfer; the buyer should also learn more about the restaurant's insurance coverage and judge whether the restaurant's insurance is adequate. Assets and insurance premiums should be clearly understood in order to keep the restaurant’s selling price as low as possible.

3. Leasing other people’s restaurants

Compared with new construction or acquisition, leasing requires less investment. It only requires a short period of renovation of the rented place to open it. In this way Obviously, it can save a lot of time; the risk of leasing is much smaller than building or buying a restaurant, and it is more selective and flexible, because if you are not satisfied with the restaurant or the location of the restaurant, you can rent another one development elsewhere.

After the lessor and the lessee reach an understanding, the two parties can sign a lease contract and act strictly in accordance with the contract. When signing a lease contract, you should pay attention to the following factors:

First, the property terms: the contract must describe the conditions of the leased property in detail, and have clear written records of the usage regulations; the requirements for improvement or decoration must be Construction can only be started with the lessor's written consent. Construction costs and ownership issues can be negotiated by both parties.

Second, equipment terms: The owner of the equipment should be stated in the contract to prevent the leasing parties from arguing when the contract is terminated; the maintenance of the equipment, especially the sanitation, lighting, sewage, and water supply in public places The person responsible for electricity, gas and pipelines must be clearly defined, and property management fees, insurance premiums, property taxes, etc. must have clear terms in the contract.

Third, lease term and rent terms: Lease term and rent terms are key terms in the lease contract. When signing the contract, both parties need to analyze it carefully and objectively, and make judgments through negotiation. The lease period is usually optional and is divided into a one-time lease period and a renewal period. The operation of a restaurant is quite special, and it takes a long time for the capital to be recovered from investment. Both parties to the lease should have room for maneuver during the lease period, which is more conducive to cooperation between the two parties. Common forms of rent include: fixed rent, sliding rent, progressive rent, percentage rent, fixed rent plus percentage rent, etc. Both parties to the lease should negotiate and work out a reasonable method of paying rent based on market conditions to ensure that both parties are profitable.