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2.5 Industry and tourism profile

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Research and then summarize the local industries in your target marketplace and emphasize their potential to generate business in your area. You can learn about them from the local chamber of commerce, Lions Club, Rotary Club, or other service clubs in the community. Once you have opened your restaurant, you may want to join one of these organizations; with luck, you will be hosting some of their luncheon meetings. Forging good relations and networking with the local business community is a prudent thing to do. Your restaurant may be able to provide lunches for management meetings, as well as dinners and special events sponsored by these companies.

The positive effects of tourism in your area and how it can benefit your operation should also be summarized in your study. Talking with other operators will give you a handle on how and when the tourist season influences their business. Information can also be gathered from your tourist and convention bureau or local business association. If you are going to focus on attracting the tourists, you should formulate a plan and make contacts with the bus companies or tour companies that do business in your area. Highlight the tourist segment in your marketing strategies, and include this potential revenue in your financial projections.

Start & Run a Restaurant Business

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