What You Need To Know To Become
A Successful Restauranteur

Opening a restaurant is the perfect business for someone who loves business, people, food and cooking. If you love being in a fast paced environment, where no 2 days are ever the same, becoming a restaurateur might be great for you. Here's a few things for you to consider:

* Budget: What is your budget for starting and running your business? In order to ascertain this you will need first to find out what location you will want your restaurant to be in, and how much leasing or buying property in that area will cost. You will also need to know what type of food you want to serve, and whether that area and demographic WANTS that style. Not all areas and demographics will be profitable for all niches. : Chinese, fast food, seafood, multi-cuisine, there's a million of micro niches you can choose. You'll need to decide upon your budget for build out and decor (and don't forget the kitchen)

(To read how I got all the equipment for my restaurant's kitchen for FREE click here)

You'll also have to decide who many people you'll need to hire and train depending on the size of your place. Don't forget, most employees like to be paid while training!

* Business plan: Once you have the basic idea sketched out, you should draw up a professional restaurant business plan. This will tell you how much money you will need to invest and have a forecast of profit based on which you can apply for a loan or plan your investment. It will also help you determine just how many assumptions you are making, and how much more research you need to do.

* Pick Your Niche Carefully: No restaurateur should create a restaurant without a special recipe or specific niche. You too will need a specialty. Except for choosing your location, picking the proper niche will have the biggest factor on your profitability and probability of financial success.

* Promotion: A good restaurateur knows the importance of continuous marketing and promotion. The visibility and education of your potential customers should be the restaurateurs main priority in the initial stages. Without adequate promotion no business, especially a restaurant which depends on daily business, can get off the ground.

There are a million little things that go into the grooming of a success restaurateur. Attention to detail, delegation, looking at things with a critical eye, being meticulous with accounting and ratios, etc., There's a lot to do, and a lot to keep on top of. However, if you are a true entrepreneur who enjoys a challenge, becoming a restaurateur is a terrific path with great rewards.