Location plays an important part in setting up a successful restaurant business. It is not only food and great taste that brings customer to a restaurant, but a good business is done on how well you have placed your brand.
Many a times, the restaurateurs are so confused to get the right combination of high streets and malls. But how to pitch in the right location to open your outlet is very important as it gives you a clear picture about the target customer in that particular region plus the menu you are going to design keeping in mind the locals in that location.
The right way to approach the challenge of finding a location for your brand is not about choosing 'The Best Location' in the city. It is about finding the location that suits your brand the best and which would be appreciated by your customers. As Important is ensuring you have a landlord who understands your needs, and many times a location becomes the 'Right Location' due to the support of the landlord.
Your next location to be
Location is an important part to place a brand. A restaurateur could have significantly better result in placing the brand to a right location and putting the amount of effort that he has put for other needs.
Location is beyond placing your brand; it is about what your brand is? Who your target is? The moment you compromise on location, your work becomes harder.
And to successfully place the restaurants identity in different regions at different locations, restaurants need to go through multiple things depending on the region it is opening its outlet. For example, in markets like North India, it is a combination of malls as well as high streets, whereas in markets like East India, mall culture is still not a hit.
According to experts, locations that meet certain specific criteria are conducive and let restaurants achieve higher realisation per square feet.
Category decides the location
Location is always followed by the format you are going to open your restaurant. For example, if a brand is planning to open a fine dining restaurant, the clientele will be the high income bracket people or the celebrities, the right location will be high street as these classes wouldn’t prefer to walk inside a mall to be at the restaurant. On the other hand, a fast food or a casual dine restaurant chain is best suitable at mall as it targets the young and fast growing middle class crowd.
Currently, the commercial space faces a serious threat due to the rise in real estate prices and the scarcity of business properties. The clientele attracted by malls and stand alone properties are entirely different. Malls have a significant advantage of spacious car park facilities, but a disadvantage of lesser footfalls during weekdays. However, high streets have moderate business across the week and the rentals are comparatively higher than malls.
However, the choice between a high street and a mall is highly dependent on the concept.