Wondering how to start a Greek restaurant? We take you step-by-step from start to success.
(article continues below)
How to Create a Winning Greek Restaurant Business Plan
By now, you're probably tired of hearing how important a good business plan is to your Greek restaurant startup.
Although it might seem like an unnecessary formality, your Greek restaurant's business plan is a document that will shape your goals and strategies on a go-forward basis.
Furthermore, a good business plan will help you avoid key startup mistakes. Lacking a solid business plan, many startups find themselves rudderless and incapable of executing consistent decision making processes, while committed business planners rely on their plans to guide all of their decision making and short-term planning efforts.
Locate The Business Near Loyal Customers
Because your Greek restaurant will cater in large part to local customers, be sure to locate your business in a spot that is nearest to your best customer base. Understanding how to choose the right location for business is critically important.
Prior to opening a Greek restaurant within your community, it's a good idea to determine how many competitors you have. We've provided the link below to help you get a list of local competitors in your city. After clicking on the link, type in your city, state and zip code to get a list of Greek restaurants near you.
Gain a knowledge of how existing firms have positioned themselves in the marketplace, and then design your business in a way that sets you apart from the others.
Getting Advice from Experienced Entrepreneurs
As part of your due diligence on opening a Greek restaurant, it's a wise move to speak with somebody who is already in the business. It's very unlikely that the local competition will talk to you. What's in it for them?
However, a fellow entrepreneur who has started a Greek restaurant in another town can be a great learning resource for you, as long as they don't view you as a competitive threat. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
What's the process for finding somebody who runs a Greek restaurant in another city who you can speak with?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
Acquisitions vs. Startups
Unfortunately, many inexperienced Greek restaurant entrepreneurs approach ownership with the mistaken idea that a startup is their only option when they could also pursue a business acquisition.
Except for scenarios that require extreme innovation or highly unique value propositions, it's usually less risky to buy an existing Greek restaurant.
An acquired Greek restaurant is a known quantity; a startup is less certain because its forecasts depend on estimated outcomes. If you're diligent about finding the right acquisition prospect, you may be able to leverage a business buying strategy to rapidly propel yourself into a position of industry leadership.
Explore Franchising Options
Your chances for avoiding failure in business zoom upwards if you decide to franchise rather than going it alone.
As part of your process in starting a Greek restaurant, you ought to investigate whether there are good franchise opportunities available that might make your life much easier.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you sell to Greek restaurants, you're in the wrong place. These resources are more appropriate for you:
If you are still exploring all of your options, please browse our directory of guides below.