Sunday, July 8, 2007

Location #3:

The search for space is never ending. You become very familiar with the jargon. HVAC, CAM, percentage rent and tenant build-out become everyday parts of your vocabulary. After visiting several locations, you have a sense of the types of space that are available and how your image of your restaurant fits into those spaces. It is critically important to view the space from the perspective of the customers, your guest whom you will be inviting into your establishment. Stand outside the space at lunchtime, how many people are walking by? What are those people doing? What appears to be their destination? How will your restaurant draw these people in? Are the people walking by your target customers? You need to immerse yourself in the space and the surrounding area. During this step in the process, it is advisable to visit nearby establishments, to scope out the competition. What type of customers are they attracting? Review the price points of the menu. Look at the dishes on the table. A considerable amount of information can be gathered from just walking around and being aware.