Video: How to Find the Right Location for Your Restaurant

Starting a new restaurant? Watch this video to find out 3 things you should consider when finding the right location.

Hi I’m Attorney Tawfiq Ali, with AliLaw Practice LLC. We help restaurants solve legal problems, so they make more money. 

Today I want to talk about finding the right location for your restaurant. Sure you may think you have great food and service, but none of that matters if you are in the wrong location. Here are just 3 things you should consider.

1. Are you accessible to the market you are trying to reach? Who are your best customers? Are they college students? Working professionals? Families with children? Especially in the city (where a lot of people don’t drive cars), it’s best if your restaurant is in a neighborhood where your customers live or work. Otherwise find a location close to public transportation. If you cater to out-of-towners, make sure valet or other parking is available.

2. Is the space the right size? And if you have growth plans, is there room to expand? Yes, you want to make sure that you have enough seats to serve your customers, but that also means you’ll need more space for your management and staff. So in addition to dining space, you’ll need a large enough kitchen, refrigerator, dry pantry, and other storage space. If you are the owner, you’ll also want to have your own office. Make sure you consider all of these factors when you are looking to purchase a space or negotiate a lease.
3. Taxes and fees. Nobody likes to talk about them, but they are a fact of life we want to minimize. Just to name a few, your property taxes, sales taxes, and licensing fees may depend on the location you choose. You’ll also want to make sure that all of your assets and expenses are properly booked so that you don’t miss out on valuable deductions. Consult a tax professional who works with therestaurant industry so that you don’t have any surprises and find ways to lower your tax bill.

I know operating a restaurant is not easy, but I also know it can be very rewarding personally and financially. These are just a few of the things you need to consider. Get help to learn more. For more tips to help your restaurant make more money, save more money, and avoid legal trouble, visit our website at chicagorestaurantlaw.com and sign up for our free video series. Our first video is about developing the ideal brand to bring more customers through the door, help your revenues soar, and make your restaurant business more valuable.

Filed in: Start a Restaurant • Video