Any hospitality business owner knows that one of the most important business considerations is – location, location, location. Nothing matters more in the retail industry than where the business is situated because foot traffic is said to indicate performance and that, of course depends on the accessibility of the establishment.
Does this mean a business that does not get much foot traffic will ultimately be in trouble? Customers generally don’t like to take long drives, walks and complex directions just to grab something quick to eat. This is evident in the thriving fast food industry. With property values along major thoroughfares soaring, rent is not cheap which is why new entrepreneurs and those with limited budgets try to make it work elsewhere.
In the past entrepreneurs would hesitate at the idea of setting up a restaurant away from the hustle and bustle of life, however in this digital age concepts are changing. Because of social media, reviews travel faster with each photo posted on Facebook, Instagram and Twitter which has seen an increase in hidden, out of the way cafes and restaurants. These changes are also occurring in Asian countries as well as throughout Europe.
Setting up a restaurant or food shop in an unusual location has become a trend. Owners are offering their customers a quality food and service experience ensuring their customers would come back time and again and that they would not mind driving or walking a distance for it.
If you are planning to set up a shop away from the crowds, word of mouth and a residential location may help you nail it. You would want the neighborhood to spread the news. People wanting to avoid heavy traffic would prefer to dine at a restaurant in the suburbs nearer their homes. For an inconspicuous restaurant to be successful, be sure to have visible signage and that there is some traffic around.
With the right approach to marketing and of course quality food and service, a business can do well just about anywhere these days. It is even easier for customers to share their experiences, whether on an island, in the mountains or at a secret location in a foreign city. As long as you have something unique to offer, you may just make it work.
As you look for different ways to grow and improve your business, seeking professional advice from a hospitality business consultant could prove to be an important and helpful decision.
You can click here to speak to hospitality business experts. We would love to help you formulate investment strategies and streamline your processes to take your business to the next level. Our goal is to help you grow your business, find ways to invest more and increase your productivity.
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