The coronavirus and COVID-19 pandemic has made life hard for many of us in many ways over the past year. We’ve experienced fear for health. We’ve worried about our nearest and dearest – especially the vulnerable. We’ve felt lonely and isolated. But one area of life that has really struggled too is business. Countless people have lost their jobs, as government guidelines and restrictions to minimise the spread of the virus have meant that many businesses have been unable to even operate.
One industry that’s struggled more than most? The hospitality and dining industries. Cafes, restaurants, bars – you name it – they’ve been really struggling to tide themselves over, as they’ve been unable to open and accept guests for a long time now. Of course, the rapid and unprecedented spread of coronavirus around the world has meant that social isolation and social distancing measures have been necessary for the safety of people and to reduce the burden placed on healthcare services. But if you’re considering setting up your own restaurant, could now be a good time? Here’s some information to help you make the right decision.
Is Setting Up A Good Idea?
Whether to set up a restaurant right now or not will depend on your country’s individual guidelines and rules. If everything is closed and restaurants aren’t allowed to open yet, you may want to hold off and open when people can actually enter your premises. Of course, now is a good idea to start planning at least. Chances are you have the time on your hands to really mull over how to set your restaurant up.
Investments To Make
If you do decide to go ahead and open a restaurant, there are a number of investments that you’re going to have to make to get things up and running. Many people underestimate just how much effort and cash it takes to get started. The majority will either use savings or take out a loan of sorts to get the ball rolling. You’re likely to have to spend on decorating and furnishing your premises. You’ll have to provide high quality kitchen equipment such as refrigerators, temperature monitoring solutions, ovens, knives, cutting boards and more. You’ll need tables, chairs, till points and more. You’ll also have to spend on less tangible things, such as setting up a website, branding your restaurant, marketing and advertising.
Choosing A Location
If you have the funds to go ahead, it’s time to choose a location. Generally speaking, high footfall areas in city centres and towns tend to be most ideal. This will see more people come in and spend with you. The cost may be higher, but it’s generally worth it.
Many restaurants want to sell alcohol alongside meals. In fact, this is where many find a lot of their profit. However, if you want to do this, you’ll need to get licencing. Look into the particular requirements for your local area to get started with this.
Of course, setting up a restaurant can be difficult. But with vaccines rolling out across the world, we may be able to dine out again before we know it!