THE FEASIBILITY OF A NEW SIT-DOWN RESTAURANT IN VENTURA
Presented to the
Faculty of the Agribusiness Department
California Polytechnic State University
What Is a Focused Feasibility Study?
Business Plan vs. Feasibility Study
The Advantages of Conducting a Project Feasibility Study
Business Plan Vs. Feasibility Study
Rules of Conduct for Restaurant Employees
Examples of Business Feasibility Reports
Entrepreneurs who start new restaurants may overestimate the size of the market in their area and not take into account the tough competition they will face from established restaurants with loyal clientele. Doing a feasibility study prior to investing the time and money to open a restaurant can help an entrepreneur make a more informed decision about the venture's chances of success.
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Starting or running a restaurant? These practical tools can help.www.virtualrestaurant.com Obtain Market Statistics
Studying demographic characteristics such as age and income will help you estimate the size of your potential market. If you are planning a mid-price, family-style restaurant for example, you need to know how many families reside in your area. A heavy population of singles or college students will probably not support your restaurant. The U.S. Department of Commerce Census Bureau website is a good place to begin your research.
Evaluate Potential Locations
A high-traffic location is preferable, one close to major streets with lots of visibility to vehicle or pedestrian traffic. Make sure parking is ample and easy for customers to access. Look for businesses in the area that could create demand for your restaurant -- large office complexes, hotels or retail centers for example. Be sure to consider the tradeoff between a location's suitability and the lease cost. Saddling a new restaurant with a lease payment that is too high can make it...
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