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The best decisions are informed ones and research is vital. Research can take a lot of time and effort and can cost a bit of money, but great research can and does save many times its original cost and is the best way to determine your concept. Sources of information come in many forms and in many places. Most cities in the United States have restaurant associations and business associations. These associations provide weekly and monthly meetings with people who share your interest in restaurants or business in general. They are a good place to connect with smart people who may be able to help you find information.

But you are looking at the person who will be the most help in reaching your dream in the mirror every day. Howard Cannon, CEO of Restaurant Consultants of America says, “You will have to decide where to look for information and what information to look for. The millions of pages of available restaurant-based concept information include surveys, data, and opinions on to how choose a restaurant, and the more you look, the more you can find. So where do you begin? The overall concept design of your restaurant is your most important decision. You should understand that this one decision entails and impacts everything you do going forward in your restaurant business. Be sure you get it right.”

You can design everything yourself and trust your ability to juggle a million things at once and understand how it all fits together, or you can find some help. The choice is yours. Mr. Cannon advises, “Unless you’re an expert in all of the areas of restaurant concept design, your best bet is to hire, partner, or network with a restaurant concept design firm. The amount of money you spend on hiring professionals to help you will be small compared to the money and time they will save you. These professionals usually work in teams of two or three and guide you toward wise decisions.” A good team will help clear away obstacles, grow ideas, determine feasibility, determine restaurant flow, and make everything work together.

Stuff happens. Especially in the early days of preparing a restaurant, the unexpected can shake you up. Expert restaurant design and concept people have been through it all many times before and can add a solid dose of confidence to your efforts. They have experience in dealing with vendors, manufacturing companies, designers, and marketing firms and can deal with nearly any obstacles you may encounter to the concept design process.

Cannon also recommends some initial soul-searching for the prospective restaurant owner, saying, “You’ve got to ask yourself what kind of restaurant you want to own. Don’t just sell food. Instead, sell something you are passionate about because your passion could make all the difference. Don’t try to be everything to everybody. Instead, try to be something great to specific people. Not everyone will eat at your restaurant anyway, so why not concentrate on those who will? Finding these customers is first about finding yourself and your passion. The more things you try, the more difficult it is to be great at one of them. So, figure out what you love first, and go from there.”

Howard Cannon is a highly recognized restaurant expert witness, consultant, analyst, and speaker. He is the author of The Complete Idiot’s Guide to Starting a Restaurant© – found in 76 countries around the globe. Mr. Cannon is the CEO of Restaurant Consultants of America and Restaurant Expert Witness, and can be reached at 800-300-5764 or via the web at RestaurantConsultantsOfAmerica.com or RestaurantExpertWitness.com.

ROI, Inc. © 2012 – All Rights Reserved

Ok, you’ve got a great new restaurant concept, but do you have a plan? Have you put your dream in writing? Howard Cannon, CEO of Restaurant Consultants of America, says, “The one significant difference between a dream and a goal is that goals are written down.”

Cannon adds, “If you want to open a restaurant, you need to make that restaurant your passion. And if you invest the time into putting together a plan, you will find the money you need to fund that passion. Tons of capital resources are available, but investors always want to know your plan and how committed you are to that plan. Risking your own money is one way to demonstrate your level of commitment to other investors. If you are reluctant to risk your own money, not many people will risk theirs on you. If the concept and business plan born of your passion work, then the money will follow.”

There are six main factors to remember before a prospective restaurateur hits the funds-finding trail. The first is to have a great restaurant concept. You must be able to answer, “What sets you apart from the competition?” The next is to write a complete and well-conceived business plan. The business plan is critical to securing funding of any kind. Next, you must choose the right site. This can make the difference between success and failure. Think through and offer a funding plan schedule. How much money is needed for year one? Year two, and so forth? This should go without saying, but if you don’t use common sense, you won’t get anywhere. Money sources will know if you are asking for what you actually need, versus how much you think you can get. Finally, have a strong management team. You may have all your ducks in a row, but the management team you put into place has the power to make or break your business.

Keep in mind, there is always money available; and, there are plenty of ways to get money for wants and needs, but there are also plenty of money-people who really enjoy saying “no.” Cannon advises, “Get ready. Resilience is the theme for being effective at finding funding. There will be plenty of ‘No’s’ in your future . . . to which, you can only respond, ‘So,’ and then move on.”

Mr. Cannon urges those who want to start a restaurant to research their concept, believe in themselves and their ideas, and look for funding – in that order. “Colonel Sanders spent seven years traveling the country selling his chicken out of the back of his station wagon before he found someone to fund his secret recipe. He didn’t care who said, ‘No.’ He knew the only right answer was, ‘Yes!’ If you don’t have that kind of passion and belief in yourself and your ideas, it won’t work.“

Howard Cannon is a highly recognized restaurant consultant and restaurant expert witness. He is also an author, speaker, mediator, and analyst. Cannon is the author of The Complete Idiot’s Guide to Starting a Restaurant© – found in 76 countries around the globe. Howard Cannon can be reached at RestaurantConsultantsOfAmerica.com, RestaurantExpertWitness.com or at 800.300.5764.

 ROI, Inc. © 2011 – All Rights Reserved

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Contact Information:

Restaurant Consultants of America, 800.300.5764, RestaurantConsultantsOfAmerica.com, info@RestaurantConsultantsOfAmerica.com

Media Contact:

Susan Wood, 800.300.5764, susan@restaurantconsultantsofamerica.com