Buying/Starting a Pizzeria - What to consider!
When looking into business opportunities, there are a few types of businesses that have a higher percentage of success. One is Pizza restaurants; this is due to the combination of a reliable business model, proven demand and the use of simple ingredient and easy streamlined assembly line within the kitchen. Pizzerias are an ideal option for budding entrepreneurs, whether you are starting your own or buying a previous business. Though there are a few things to consider if you are starting a Pizzeria.
- Your restaurant needs an identity, a personality, a brand.
Decide on a good and easy to remember name and logo for your restaurant. Make sure to keep in mind that there are numerous pizza restaurants across the globe; you have to do something different which people would like.
Think of how many different types of pizza you wish to sell or how will you build your pizza restaurant building; what will be your unique feature to set you apart from your competition? There are numerous things you can do to make your business unique like adding a special sauce, or making a complete new and unique style of pizza. Experiment, be creative and follow your personal inspiration.
- Find a good location for your restaurant.
Remember this; a restaurant business will not generate profits if there is no foot traffic. Therefore location is definitely key. Also check to see if there’s any competition nearby. If so analyse their restaurant, what are their prices? What types of pizza do they sell? Etc.
Make sure to only start if you are able to challenge the competitor or else it can become quite hard due to their restaurant already existing in that area. If you are new in this industry then it’s better to look for a different place as opportunities are always unlimited and competition can be strong.
If you buy the necessary items like utensils, ingredients, napkins etc in bulk then you can easily get a good discount from the suppliers which will be really helpful in the long run.
Build relationships with the suppliers, be their friend and show them you’re reliable. They are likely to give out deals, specials or even share secret tricks of the trade to those who they see as allies. It is always best to make friends not foes.
- Advertising your Business.
Marketing a business is highly essential as recent study shows that nearly 90% of businesses fail due to poor marketing. Simply opening the door to your restaurant will not draw customers; you cannot expect to make any sales when people don’t even know that you exist.
Try to develop your brand awareness; this will help people to easily recognize your business. You can try with posting your advertisements in magazines, newspapers, websites, TV, Social Media etc.
Running a pizza restaurant can get a little busy, which is why hiring the right staff will make the difference in your service. Hard workers will help the business bring back customers; if your food is good and your service is good then customers will remember your business. They might even spread the word of the pleasant experience or even provide a review online. Win the customers and your business will benefit the results.
These are factors to consider when starting your business. If you are buying an existing business then these will already have been developed, therefore your main concern is to maintain the already existing structure or even improve it. Three things that are recommended to consider-
It is recommended to create a system of cost accounting and controls and abide by the restrictions. This will come in handy if you are ever audited or if you are in need of getting a loan. Having a strong financial history with the business is always best, if it comes time to sell then having those records will make the sale smoother. If you are buying an existing Pizzeria than it is recommended to closely look at the history.
Restaurants always have a higher percentage of liabilities, either it is the Chefs in the Kitchen or the Customers with the food, there are numerous areas where someone could claim an injury or sickness. This is why when starting up a Pizzeria it is best to separate yourself from the business and become a Corporation (see. If you are buying an existing business, look into the history, the current insurance and the structure of the business.
It is also recommended to keep a close eye on health and safety procedure, this will reduce the possibility of injuries (liabilities) at the workplace. Keep your workers safe and therefore happy.
When maintaining a Restaurant inventory is always an element of the business the owner should keep a close eye on. Having too much product will result in food wastage; having
not enough will result in disappointed customers being unable to have their favourite meal.
As you get to know the business analyse the rhythms of customer traffic. Take note of days where the business gets busier or the business has fewer customers. This is when you will begin to know what days to order extra of this or less of that.
Overall a Pizzeria is an opportunity that entrepreneurs can really appreciate. There is room to develop a successful business or to even improve an already developed business. There are numerous factors that need to be considered but overall it can be a truly successful venture.
For available Pizzeria business opportunities head to – Business2Sell.com.au (Food and Takeaway Food)