Aprimary reason attributed to restaurant failure, is poor concept development and subsequent execution.
So what key elements should new restaurateurs focus on to ensure their new restaurant concept has high chances of success.
In this portion of the guide, we discuss in detail three primary elements to consider when drafting out a restaurant concept.
Those 3 key elements being as follows:
- A unique selling proposition (USP)
- Validation of the concept’s appeal relative to its target market and location.
- A clear definition of the concept’s identity.
Signing a lease for any business is a complicated process, however when renting a restaurant, the contractual complexity is compounded with the multiple operational and municipal requirements that every restaurant must face.
If we were to give any advice about signing a lease, it would be to first hire an expert and deeply experienced attorney who specializes in this niche property law. Read More