Finding out if the restaurant will thrive in a specific location is important in ensuring the success of your business. To do this, you must do the following steps in surveying the neighborhood:
1. Do a physical survey of the location. Spend time to view the people in the area. Other factors such as safety, cleanliness, and the like may also be factored in.
2. Check out the competition. Are there similar businesses established in the area? Find out the status of their business.
3. Get feedback from the people in the community. You may administer surveys in the place to be able to analyze the behavior of your target market. By doing so, you will have an idea of how your restaurant may be accepted if it is set-up in that location.
4. Determine spending activity of target market. It would be advisable to do a market study of the area where you intend to locate your restaurant. See the previous chapter on Market Analysis.
5. Foresee potential problems. If you decide to set-up the business in the said location, will there be any problems in the future?
6. Find out the limitations and restrictions of the given space. Match your...
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