When opening a new restaurant, there are a number of important decisions that must be made—including decisions about the menu, the décor, the ambiance, and beyond. However, one of the most critical decisions of all is the one about the restaurant’s location. In a new statement to the press, Kuester CRE, a leading Commercial Real Estate Developer, shares some tips for restaurateurs seeking the best place to set up shop.
“The first thing to keep in mind is that your perfect restaurant location may not be available, and it may not be affordable—and that’s okay,” comments Shaw Kuester, President of Kuester CRE. “The important thing is to be open-minded. You may find a location that’s not exactly what you’d always dreamed of, and yet it may be absolutely perfect for your new business, as well as affordable.”
Another important consideration is foot traffic. In choosing a restaurant location, it is important to select a spot that attracts a good number of local diners.
“Be mindful of the ‘eating patterns’ in your community,” Kuester recommends. “For example, there may be an open location that’s surrounded by law offices or banks. A location may get a lot of foot traffic, but it may not be foot traffic from diners.”
Kuester recommends doing some research. “If there’s a spot you’re interested in, spend a few hours on a nearby park bench or picnic table and just observe the kinds of people who pass by,” he suggests.
A final consideration is affordability. “Experts say you should be able to make rent on the basis of one day’s worth of sales, so look at your sales projections and see roughly where that puts you in terms of your monthly payments,” Kuester advises.
Ultimately, location is too important of a decision to make lightly—so restaurant owners are advised to work with Commercial Real Estate Developers.
“Seek out the expertise of someone who knows local businesses, and local real estate, really well,” Kuester concludes.
For additional information about Kuester CRE and its commercial real estate services throughout the Carolinas, visit www.kuestercommercial.com.
Kuester CRE boasts more than 45 years of experience in commercial real estate, plus a reputation of trust and integrity throughout the Carolinas. The company focuses on brokering and leasing retail, office, medical, land, and flex property, as well as managing commercial buildings, apartments, and student housing. Kuester CRE delivers customized solutions for landlords, tenants, and investors at every stage of the commercial real estate process. With the unique ability to cover the Western Carolinas, Piedmont, and Eastern Carolinas, Kuester offers the responsiveness of a local presence with the resources of a larger regional firm. To learn more about Kuester CRE, visit www.kuestercommercial.com.