There are quite a few opportunities available to purchase and invest in the many restaurants and cafes for sale in the UK. It is a worthy ambition for chefs and entrepreneurs, but not the easiest of tasks. Everyone wants to own a restaurant in the heart of London, but the opportunities may not be as plentiful as if you chose to look further afield.
Spaces are limited and the cost is very competitive to own a spot in the busy metropolis. However innovative, independent restaurateurs are entering the sector every day and are making their presence felt in different and varied locations. There are several tips and success strategies for operating a successful restaurant business.
You won’t be surprised to find out that the number one priority is the same as with most other businesses, it’s all about location. The second is to amass a wide base of loyal and committed customers. The down turn in the economy, rising prices, and several different things competing for the customer’s money has made it increasingly important to provide value for money.
Apart from the established names that restaurant goers know and trust, new entrants into the market will have to take the time to build and establish their brand. You cannot start out with high prices if you do not have the customer base, reputation, or fan base to support this. Instead it is best to offer your customers a cost effective, great tasting experience when dining at your restaurant.
Location however is still the number one priority when looking at restaurants or cafes being offered for sale. Location is not limited to the physical location of your restaurant. A lot of first time restaurant owners and chefs seeking to start their first restaurant make the mistake of thinking that they must be in the centre of the city or another such prime location in order to be successful. It certainly doesn’t hurt to get a prime location. However the associated high costs and the competition often lead to these restaurants being unsuccessful and closing within their first year or two unable to survive the competition and the high cost of doing business.
It is much better for newbies operating on a budget and looking to enter the restaurant scene to concentrate on the other aspects of location. Try to identify areas where the potential for foot traffic is great. Pay close attention to your surroundings and neighbours. It might not be best to have a high cost, fine dining experience restaurant in the midst of a broken down mall or next to a noisy bikers hang out spot for example.
Choose an area that will suit the clientele you wish to attract and that will most likely support your restaurant. Make sure that the facility can provide your patrons with adequate and safe parking so that they can relax and comfortably enjoy the dining experience at your new restaurant.
For a comprehensive list of restaurants and cafes for sale in the UK visit NetMovers.
Darren Jones writes for Netmovers Commercial Department at http://www.netmovers.co.uk/commercial-property-for-sale/