Expanding Your Restaurant the Right Way

First the dream is to own a successful restaurant, but then what?

The next logical step is to expand with a second location. Though this may not be the case for every restaurant, some are happy putting their all into one, others want to expand, maybe even into a franchise.

But how do you keep the success flowing?

Keep the Name

Because the first restaurant is successful, it's important to keep the name when opening the next one.

Even if you change the name a bit, keep a connection. Maybe add a street name, such as Celia's on 6th, instead of just Celia's.

Another option is to keep a theme going: with a name like Baguette, your next restaurant could be Ciabatta.

If you are going for an exact replica on your way to a chain, though, keep the name the same for all locations - we all know Moe's and Chili's!

Keep Detailed Records

As the following article shows, when you are deciding “How to get the most out of personal finance software”, you'll want to use the best software suited to your needs.

It is different moving from one location to multiple ones, and your finance software will have to work with you to assist you in staying organized, balanced and out of the red.

Carefully Assess Real Estate Locations

Part of the reason your first location is so successful could be due to where it is. Location is essential to success.

When planning for your next restaurant, take real estate details into account, like demographics, socio-economic data and what else is around. Location could make or break you.

Give Each Restaurant the Attention it Needs

To get your second one off and running, it may seem natural to step back from the first.

But this could hurt both your current and future endeavors. If your original place slides, the second may never do so well.

And it works the other way around, too. If your second isn't as successful, it could turn around to hurt the original restaurant.

Hire Trustworthy and Proficient Help

Maybe you've done it all up to this point. But you can't now.

You'll need to hire help in management, and your help needs to be the best.

Maybe you want someone to solely manage one of the locations, or you want to split duties between the two.

Whatever you decide, nothing should suffer now that you are expanding.

Restaurant expansion is exciting and nerve wracking! Maintain your focus, your dedication, your numbers and your food.

Soon you may be thinking about restaurant number three.

If you have opened more than one restaurant over time, what advice do you have for fellow owners considering a second eatery?