Countless entrepreneurs dream of being their own bosses and providing great food by opening a restaurant. However, 60% of restaurants don't make it through their first year, and 80% don't last five years. These odds don’t mean that it’s impossible to start a successful restaurant but that a sound business development strategy is needed. If you’re planning the business of your dreams, keep the following tips in mind.

How to Successfully Launch a Restaurant

1. Offer Something Unique

Every restaurant needs great food, a convenient location, and a unique concept to attract customers and gain a good reputation. A restaurant placed away from high-traffic areas will find it much harder to stay afloat while also building a customer base while an easily accessible location can attract diners organically.

However, the Atlanta area is known for great places to eat, and with so many restaurants now offering similar cuisines and experiences, yours must stand out. That may mean a type of food those in your area are unfamiliar with or exceptionally well-prepared classics. Whatever your unique angle is, work to make your product the best it can be to generate word-of-mouth, good reviews, and increased business.

2. Keep a Capital Reserve

The costs of opening and maintaining any business often run well over your initial estimate. Without a financial cushion of six to nine months of operating capital, early overruns and unexpected expenses can rapidly mount and force you to close your doors before you even get off the ground. Expect revenue to be slow for a time after opening while you gain traction, and keep a reserve on hand to cover any expenses until business picks up.

3. Make a Thorough Business Development Plan

From the day you decide to open a restaurant, you’ll need a detailed business plan to set clear goals and the methods needed to achieve them. This should include profiles of your target clientele, information on what your competitors are doing, marketing research and planning, and a detailed budget. Stick to your business development plan and update it every few months as your restaurant grows to ensure continued success.

If you’re planning to open a restaurant in the Union City, GA, area, turn to South Fulton Chamber of Commerce for a wealth of proven business development resources. For more than 70 years, this local organization has supported businesses throughout the region, strengthening the local economy and supporting the community. They host regular networking and training events to ensure business owners have the resources they need for success. Call (770) 964-1984 to speak with a representative or visit them online to learn more about how membership will benefit your goals as a business owner.