How to open a restaurant?
3.8 (16 ratings)
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How to open a restaurant?

A-Z practical guide how to start a successful restaurant business
3.8 (16 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
999 students enrolled
Created by Asen Gyczew
Last updated 3/2017
English
Current price: $10 Original price: $95 Discount: 89% off
5 hours left at this price!
30-Day Money-Back Guarantee
Includes:
  • 3 hours on-demand video
  • 1 Article
  • 9 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Select the most profitable location
  • Pick the right concept to run
  • Create great restaurant that will make your target group happy
  • Analyze and understand your customers
  • Check in Excel how much you will earn from your business
  • Spy on your competitors
View Curriculum
Requirements
  • Basic knowledge of restaurant business / hospitality
Description

What is the aim of this course?

Opening restaurants is very demanding in terms of time and cash. I will show you in this course how to research the market and plan your business to make sure that you open the right concept, in the right place for the right people. Most restaurants fail because they got it wrong in one of the 3 main factors: location, concept, your target segment of customers. Here I will show you how to find out with little money in advance whether your business idea makes sense or not.

We will show number of techniques that will help you check:

  • Whether the location is good for your business?
  • Who is your customer and whether you will have enough of them in your selected location?
  • What are the good and bad things about certain concept and whether is a good fit for you and the location?
  • How much money you get from your restaurant business?

I will also show you how to translate it to Excel and create your business plan in this universal tool. It will be useful not only for opening your business but also afterwards managing your business.

I will teach you also how to test your concept in real life without actually building the restaurant.


Why I decided to create this course?

I have worked in retail and restaurants chains for 4 years. It always surprised me that even the chains had problems with the proper selection of location and the concept that would be optimal. 3 years ago my friends started opening their own concepts or taking over existing ones. Due to my previous experience they started asking me for some help.  In this course you will find the practical tricks that we used to make sure that the businesses they were running were making money in the selected locations. This framework was proven both with small restaurants as well as with chains. We have applied it extensively also in retail projects. You will find here little theory and mainly a lot of practical how-to tips that will help you perform the research on your own.

 

In what way will you benefit from this course?

The course is a practical, step by step guide loaded with tones of, tricks, hints, examples that will significantly change the way you perceive your business and will drastically increase your chances of success. There is little theory – mainly examples, a lot of tips from my own experience as well as other notable examples worth mentioning. Our intention is that thanks to the course you will know:

  1. How to find the right spot to build profitable restaurant
  2. How to analyze restaurant concept that you think about with little money
  3. How to select the right location for your business
  4. How to analyze your target segment and how to adapt the concept to them
  5. How to get the concept-location-customer fit
  6. How to  test the restaurant concept with little money
  7. How to estimate in Excel what can be the sales and margin of your restaurant?

You can also ask me any question either through the discussion mode or by messaging me directly.

I will produce the necessary content and

 

How the course is organized?

The course is divided currently in 6 sections and will be adding new section to address other important issues. Currently you will find the following sections:

  • Introduction. We begin with little intro into the course
  • What concept should you choose? In the second section we go through ways you can use to learn everything about specific concept and decide whether it is good for you or not?    
  • How good certain location is? In the third section I will show you how to analyze locations you are considering to make sure that is a good match with your concept. This section will have a lot of hacks that you can apply to make sure that the location you are choosing will generate you expected profits
  • How to analyze your target group? Only by knowing well your customer and applying this knowledge in management, as well as the selection of the concept, you can build a sustainable business. Here, I will show you methods that you can use on-line and off-line to spy on your customers and understand them properly
  • Testing your restaurant concept with MVP. Fifth section is devoted to testing your concept without building the full blown restaurants. We will talk about an interesting concept called MVP (Minimum Viable Product) that is also applied to restaurants to make sure that what you build is what the customer wants and needs. It helps you for a fraction of your initial budget
  • Restaurant model in Excel. In this section I will show you how to calculate in Excel, on the basis of previous sections, whether your business idea for new restaurant makes sense or not. You will get ready made tool in Excel that you can adapt to your needs.

 

 

You will be able also to download many additional resources

  1. Examples in Excel, Word, Power Point
  2. Presentation of slides shown in the course
  3. Links to additional presentations and movies
  4. Links to books worth reading
Who is the target audience?
  • Entrepreneurs
  • Restaurant owner
  • Restaurant managers
  • Retail managers
  • Business Analysts
  • Consultants
Students Who Viewed This Course Also Viewed
Curriculum For This Course
33 Lectures
03:05:52
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Introduction to the course
3 Lectures 18:04

In this lecture I will make and introduction explaining you what are the 4 most important elements and how you should approach them. The main issues are:

  1. How to find the right spot to build profitable restaurant
  2. How to analyze restaurant concept that you think about with little money
  3. How to select the right location for your business
  4. How to analyze your target segment and how to adapt the concept to them
  5. How to execute the business model
Preview 10:06

Running a restaurant is a very demanding tasks and before you open your restaurant it is highly advisable that you work for some time in a restaurant to get experience on many different level. Start from lowest position in the kitchen, work as a waitress and if possible deputy manager  of a restaurant. In this lecture I will explain you want you can learn, what you should pay attention to get the most out of it.

Preview 04:42
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What restaurant concept should you choose?
10 Lectures 01:00:15

Concept is the type of restaurant you are running with all the implications in terms of the business mode. The concept includes: service level, type of cuisine you are serving, pricing, look &feels, purchasing reasons and habits of customers, capacity and size. We discuss in general why it is  important to choose the right concept what I actually means

Introduction to choosing the right concept
05:03

Store Check come in handy whenever you are talking about B2C physical products, services and retail. This methods gives you solid facts on which you can build your business

Preview 07:09

Using the store-check you can learn a lot about specific business: who is coming to the restaurant, what they are ordering, how long they are staying, etc. You can also estimate whether the restaurant is profitable or not. I will show you step by step how to perform store check and how to interpret the data you have gathered from it

How to use storecheck to analyze restaurants?
08:40

Franchising databases - how to use it to analyze restaurant concepts
03:54

Marketplaces with recommendations - how to use them to analyze the concept
07:18

Social media are valuable source of intel on your competitors and existing restaurants. By analyzing them you will know how they communicate with their target group, what is the focus of the both the restaurant owner / manager and customers. I will show you how to draw conclusions from the data on the fanpage of one pizza restaurant

Fanpages as a source of information about specific restaurant
05:15

Google is so nice to tell you through search results where is the market. Use the Keyword Planner to see whether you are able to make money on your ideas and how much you have to spend to get the trafffic

What is Keyword Planner?
04:44

Here I will show you how to use the Keyword Planner to research specific concept and make sure that it makes sense in your city. This method also helps you estimate what they are looking for (type of food, requirements) and also gives you some hints on how much you have to spend to get the traffic from on-line 

How to use Keyword Planner to analyze specific type of restaurant?
05:22

Google Trends is an excellent tool to check whether certain keyword is on a rise or not. Thanks to this tool you can check what are the trends by countries and media.

How to use google trends?
06:34

How to use ready made reports to analzy restaurant business?
06:16
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How to find the right location for a restaurant?
6 Lectures 27:16

You have to find the right location, spot for your concept. It is not easy yet it has huge impact on your success. Without the proper location even the best concept will have at best mediocre results. The perfect location is the one that brings you a lot of potential customers from your target group. There are plenty of nice techniques that you can apply to make sure that the location is good. I will show you in this section step by step how you can pick the right selection and check what kind of profits it can bring you 

Preview 01:33

Storechecks are very useful also for checking specific locations. You can check whether specific district is good for specific type of cuisine or type of restaurant. I will show you here on some examples how it can be done

Storechecks - how to use them to check specific location?
05:00

Google Maps is another great tool for checking whether specific location is good. I will show you here on the basis of an example how you should define the so called catchment area and how to measure the level of competition using Google Maps

Google Maps - how to use them to check specific location?
08:29

On-demand marketplaces are aggregating offers from different restaurants from different areas therefore you can use their search module to measure the level  of competition and to see what tactics other apply to sell on-line food.
On-demand marketplaces - how to use them to check specific location?
03:25

Keyword Planner can be also used with great success to check whether certain restaurant concept makes sense in a specific district. It provides you estimation of number of searches (people interested) and also estimation of your marketing budget

Keyword Planner - how to use them to check specific location?
03:07

Review sites like Yelp and TripAdvisor are powerful tools that can be used to check specific location espiecially when it comes to number of specific restaurants as well as their strength measured via reviews (number of reviews and their average score)

Review sites - how to use them to check specific location?
05:42
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How to analyze your target group ?
8 Lectures 43:27

Your restaurants will be visited by different segments of customers yet you should have 1 favorite that you will concentrate on – the target group. I will show you how to define it and analyze their behavior to make sure that you build attractive from their point of view restaurant concept in the right place

Preview 03:22

Here we present an exmaple from USA of segmentation with real data

Example of segmentation
01:49

Your restaurants will be visited by different segments of customers yet you should have 1 favorite that you will concentrate on – the target group. I will show you how to define it and analyze their behavior to make sure that you build attractive from their point of view restaurant concept in the right place

Introduction to analyzing the target group
02:45

In this lecture we show you how to conduct the off-line interviews, how to draw conclusions out of it and where to find respondents

Off-line interview for known concepts
06:23

In this lecture we show you how to conduct the off-line interviews, how to draw conclusions out of it and where to find respondents. Here we will talk about new, unkown restaurant concepts where it is much more difficult to find out what the customer really wants

Off-line interview for unknown restaurant concepts
14:19

Facebook Audience Insight is the perfect tool to check different segments without the necessity to do any interviews. For first estimation it is the perfect tool

On-line interviews
01:43

On review marketplaces like Yelp, TripAdvisor you have plenty of reach reviews that can be used to draw conclusions on what the customer group likes and dislikes in current concepts. This will help you to learn from other’s mistakes and improve your concept. You can analyze what is important to the customer, what do they pay attention to and how to communicate with them.

Marketplaces with recommendations - how to use them to analyze the target group
07:18

Facebook Audience Insight is the perfect tool to check different segments without the necessity to do any interviews. For first estimation it is the perfect tool

Facebook Audience Insights - introduction
05:48
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Testing your restaurant concept with MVP.
2 Lectures 10:59

Minimum Viable Product (MVP) is an important concept from lean startup that can be also used to check your restaurant concept without spending a small fortune on building the full blown restaurant. Here I explain what is MVP and why it makes sense to start with it before going madly into building a restaurant

What is MVP
03:00

We start with showing you how you can test the restaurant concept. We provide you 6 different MVPs, show you how much it would cost to build and how much time it would take you. We show you also what hypotheses / features you can test with them and when to choose which MVP

Preview 07:59
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Restaurant model in Excel
3 Lectures 25:14

Excel gives you great opportunities to calculate whether your idea makes sense or not. For this you will use the knowledge you have gathered in the previous lectures on your concept, location and your customers. Excel is obviously less emotion than you and the model you will create here can be used as a cornerstone of your business plans. It shows also to banks and potential investors what is your cash flow. We start with a simple model so you can understand it and learn how to use it. 

Preview 09:11

In this lecture we make more advanced model. We introduce the traffic parameter and show how it is converted first into people that are engaged (stop and enter your restaurant) and later into customers (they buy something from you). Here we will be operating on 2 customer groups: first one eats at the restaurant; second one comes for take-aways. For both customer groups we calculate separate conversion rates and Average ticket (ATV). We still here show you a business model for a 1 restaurant

Business model of a restaurant in Excel - advanced model
08:58

Finally we show you how to model in Excel a restaurant chain.

Restaurant chain - how to model it in Excel?
07:05
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Conclusions
1 Lecture 00:48
Bonus Lecture: What's next for you?
00:48
About the Instructor
Asen Gyczew
4.3 Average rating
829 Reviews
18,533 Students
22 Courses
Expert in performance improvement, turnaround and startups

Expert in performance improvement, startuping and turning-around companies with significant experience both in management as well as in supervision of medium size companies (EUR 20 – 40 million) as well as startups.

Specialties:

Functional experience: performance improvement, strategy development, startups, intrapreneurship, post-merger integration and cost reduction, due diligence;

Industry experience: SMCG (domestic appliances, furniture, ceramic tiles), FMCG (cosmetics, juice, meat), retail (electronics, convenience shops, pharmaceuticals, DIY, vending), B2B (aluminum system, plywood, alcohol, reagents, loading systems), services (MRO, consulting, outsourcing)

Countries: Poland, Serbia, Russia, Ukraine