What Makes A Good Restaurant?
Was the question recently asked to a trainee surveyor at Pearl Restaurant Realty. Not surprisingly, the reply coming from a “property” person, initially focused on location, accommodation, building, design, etc, i.e. the restaurant’s physical bits. As the trainee was encouraged to expand on their answer, service, menu and atmosphere were eventually offered.
No doubt the same question posed to a chef would provoke a different response altogether, but ultimately it will be the view of the customer that will matter most to the restaurateur.
In truth, it will take all of the above ingredients, and more, to make a good restaurant and whilst the chemistry of the component parts will be the deciding factor, it will invariably be the intangible parts of the restaurant’s makeup, such as service and delivery of menu, that will make the difference rather than, as the trainee surveyor had initially spouted, the location, and bricks and mortar. A restaurant’s appearance and comfort may initially entice customers for the first time, but it will be the service and food that will bring them, and their friends, back.
According to the British Hospitality Association more than 1 in 2 new restaurants fail in their first year, resulting in closure or sale. Whilst there can be many reasons for failure, the likelihood is that the failing restaurateurs, like the trainee surveyor, got “lost” in the “touchy and feely” parts rather than concentrating on addressing their target customers answer to the question, what makes a good restaurant.
Q. What makes a good restaurant?
A. A profitable one (& one not run by a trainee surveyor!)
How To Learn More
Should you require assistance on the valuation, acquisition or disposal of your existing or proposed restaurant business, then please contact Richard, Head of Restaurants, via the Pearl Restaurant London office, the firm of chartered surveyors to specialise nationally and exclusively in the sale and valuation of licensed property.