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Running your own successful restaurant

Running your own successful restaurantIf owning a restaurant is your dream, there are many factors to consider: the type of restaurant, where to open it as well as the type of restaurant insurance you will need all warrants careful consideration.

Opening an Italian bistro just down the road from another Italian eatery is not going to get you off to a good start. Ask the questions, ‘What kind of restaurant do I want to run, and what kind of restaurant does my area need?’ You may see a gap in the market for a franchise opportunity or a privately owned restaurant, depending on factors such as the economic climate and the amount of capital you have available.

In any given residential area there are many eating establishments competing for the same customers. Identify your competitive edge and promote it. Is your restaurant more authentic than other ethnic restaurants? Is it more child-friendly than other family restaurants? Do you have better entertainment? Focus on what makes your restaurant special and concentrate on attracting customers that will enjoy your unique dining experience.

You may have the best food, the best staff and the best prices, but if you are not located in a convenient position, you could be doomed to fail. Your restaurant should stand a better chance of survival if you go to where the people are, instead of waiting for them to come to you.

Whether you decide to open a fine dining restaurant, a dining and entertainment venue, a bistro or a diner, you will need adequate restaurant insurance. Restaurant insurance provides cover against a range of unexpected incidents that could threaten your business.

YOUR Insurance can help you tailor a restaurant insurance policy based on your establishment’s exact requirements. Our policies can be tailored to cover damage to your building and contents caused by flood, fire or theft, as well as public and employee liability claims, loss of earnings, theft and even loss of trade licences. Contact us for more restaurant insurance information or a free quote.