Time Frame

When starting your own restaurant, time is an important factor to consider. Although it can be exciting to start a new business, it can take time to get everything in place. Waiting periods are a major factor when it comes to starting a restaurant. But what exactly does the waiting period entail?

There are several different stages in your restaurant adventure where you may experience waiting periods, especially when it comes to the financial aspects of it. Firstly, it may take time to develop your business plan. A business plan is an important part of any business, including when starting your own restaurant, as it outlines the restaurant's goals and strategy for achieving them. It’s also important to have your business plan approved by the bank or investors before you can continue building your restaurant.

Business Plan

Getting your business plan approved can take time. It might be the bank that needs to approve it, or you need to find investors who are willing to invest in your restaurant. It can take time to find the right investors who are willing to invest in you and your dream. You also need to be patient with the bank as it can take time to approve your application and get your financing in place.

Business Account

You also need to have a business account in a bank. It doesn't have to be the same bank where you have your personal finances, but research which bank has an offer for a business account that suits you. It's another thing that can be time-consuming because it's not always easy to set up a business account. Banks can be difficult to deal with at times, so before you can open your business, you need to have your finances in order. It is important to have a separate bank account for your business and keep track of all your income and expenses.

Suppliers

You also need to find suppliers who can deliver the food and ingredients you need. You may be able to find a local supplier who will deliver to you, but you may also need a wholesaler who has a wider range of what you need. Of course, there is also the option of having several different suppliers if, for example, you need to sell both food and beverages. Then you can have a supplier who delivers your food and a supplier who delivers your drinks. This can also take time.

Website

It’s also important to have a website as it’s an easy way to market your business and reach out to your potential customers. Your website can provide information about the menu, opening hours, prices, and location. It may also be a good idea to have an online table booking function so customers can easily reserve a table. A website can also allow you to share the story of your business and thus help create a personal connection with customers. Finally, a website can also serve as a tool for collecting feedback from customers and improving your restaurant. You need to decide whether you want to build your website yourself or pay someone else to do it. It can take a long time if you choose to do it yourself and don't have much experience. Whatever you choose, set aside extra time for your website, as there most likely will be to be something you want to change when it's almost finished.

POS-terminal

You also need to find out what kind of POS-terminal you need. First, you need to figure out which system is right for you. Then you need to have payment agreements with, for example, NETS, so you can accept card payments. It can take time to find the right cash register system and enter into agreements with payment providers.

Overall, there are many things to consider when starting your own restaurant. It can take time, but by being patient and planning, you will be well prepared to start your business and succeed.