Store search in the restaurant industry planned correctly!

Before entering the restaurant industry, it is important to reflect on your own knowledge and skills. There have often been good ideas in the restaurant industry that have failed because they were not implemented properly. Do you have the courage, passion, and sufficient financial resources to take this step? Your family and friends are in the best position to help you assess yourself. Start-up consultants or our advisors can help you gain a deeper insight.

Are you professionally qualified?

• Do you have vocational training or practical experience in the restaurant industry?
• Have you completed commercial training or further education?
• Do you have an overview of what to expect in the restaurant industry?
• Are you good at managing employees?

Are you personally suited to the role?

• Do you have support in your personal life?
• Are you capable and in good health?
• Ability to work under pressure?
• Are you able to accept a high workload?

Do you meet the financial requirements?

• Are you in a stable financial situation?
• Good overview of your own finances?
• Do you have financial reserves?
• Have you discussed funding opportunities and financing options?

Any deficits can be easily remedied through further training measures.

Would you like to realize your dream of working in the restaurant industry? We would be happy to support you in this important step. Few industries are as multifaceted as the restaurant industry. A good concept is the foundation for a long-term and secure future in the restaurant industry. However, in addition to a good concept, you also need a dose of commitment and vision. Building a good reputation as a restaurateur is the hardest part. Being an innovator rather than a copycat is the most important foundation for establishing your own identity.

What is important?

• Create your own identity – identify your unique selling point
• Create your own dishes
• Design the dining area
• Create an atmosphere
• Focus on a culinary direction
• Use regional products
• Create experiences, encounters, entertainment, and sensory delights
• Unconditional compliance with hygiene regulations
• Choosing a name

In the restaurant business, the primary focus is on fulfilling the wishes and expectations of guests. Therefore, review your concept for customer friendliness and guest orientation. A detailed market and competition analysis is essential.

Put yourself in the shoes of your future guests and go through the process in your mind again and again:

• Age groups?
• Habits?
• Where do guests walk in the surrounding area?
• Purchasing power and income levels in the surrounding area?
• Lifestyle in the surrounding area?
• Leisure activities?
• Interests and preferences of guests?

Finding the right restaurant property is a complex matter. That is why we would like to summarize some of the most important points for you here and provide an overview. Of course, this does not replace the work of our competent advisors, who have many years of experience in the restaurant industry. Take advantage of our unique combination of expertise in the restaurant industry and the real estate industry. This minimizes your risks when renting or purchasing a suitable property.

For a successful search for a suitable restaurant space, you should always have the most important documents at hand. Landlords pay close attention to the available documents during the first viewing. This includes, above all, a detailed business plan and a capital requirement plan as a basis for setting up a new restaurant business. Our consultants also help with preparing a competition analysis (information about possible competitors at the respective location) or a rental price estimate.

This neutral evaluation of a restaurant property is equally important for start-ups and established restaurateurs. Whether you are relocating or setting up a new business, you will need meaningful information about market and location factors for both processes. This is the most important basis for success in your future career. In order to plan this reliably, income approach valuation is the most important parameter—information about possible income to minimize financial risks.

In addition, uncertainties can be reduced if all requirements for a restaurant property are defined at an early stage. The wide variety of types of businesses, which always have specific space requirements, place very different demands on the property.

Our specially trained real estate consultants from the retail team have catering experience combined with real estate training. We make this wealth of experience available to you when searching for a location. Take advantage of it!

The location and footfall are the decisive factors when searching for a restaurant property. No other industry is as dependent on location as the restaurant industry. When implementing your concept, therefore, the choice of location must be your top priority. It is not always the central location in the city center that is important. Depending on your business concept, social developments, developments in the neighborhoods, or developments/trends in the respective segment must be taken into account.

• Competitor analysis helps:
• Property location
• Property design
• Facilities
• Space and seating available
• Product range
• Price
• Quality
• Cuisine
• Service
• Brand design

As in all industries, marketing is also crucial in the restaurant business. Although a few passers-by will come to your restaurant after it reopens, the multitude of options in Cologne, Bonn, or Leverkusen means that success is not guaranteed.
Marketing is therefore fundamentally important and not complicated. The question of why guests should come to you is an important starting point.

Marketing questions:

• Focus of the concept
• Goals?
• Differentiation from the competition
• Strengths of the concept
• Unique selling points
• Formulate a guiding principle
• Word-of-mouth advertising and referral marketing
• Tell people about your restaurant
• Opening event
• Define products and prices
• Staff selection
• Promotion
• Design and branding
• Utilize communication channels (print, Facebook, etc.)
• Define PR measures
• Cooperation (e.g., with beverage manufacturers and breweries)

In the restaurant business, concepts rarely fail because of the idea itself, but rather because of poor financial planning. Even the best idea cannot be implemented without a solid financing concept. Good business management is essential here. First and foremost, you should be able to earn money with your concept and your vision—a dreamy atmosphere alone does not earn money.

Financial issues:

• 30% equity capital for start-ups is the best starting point for external financing.
• Do you have reserves or equity capital?
• Financing discussed?
• Have you taken tax payments into account in your business plan?
• Have you taken your own living expenses into account and secured them?
• Have you prepared sales, cost, and liquidity plans?
• Create key figures for the business.

In the restaurant industry, there are numerous regulations, ordinances, paragraphs, decrees, rules, provisions, and laws that must be observed when operating a restaurant. This involves filling out a lot of forms. The city of Cologne offers an information portal and business services, among other things.

General legal principles:

• Restaurant law
• Trade law
• Labor and social law
• Civil law
• Health law
• Commercial law
• Company law
• Food law
• Price and competition law
• Tax
• Federal Data Protection Act
• Packaging Ordinance
• Hygiene regulations

Important gastronomic basics:

• Beverage dispensing equipment regulations - SchankV
• Youth Protection Act - JuSchG
• Non-smoker protection law - NiSchG
• Weights and Measures Ordinance - EO
• Price Indication Regulation - PAngV
• Food Hygiene Regulation - LMHV
• Toilet requirement
• Mandatory training in food hygiene and infection control
• GEZ
• IHK
• Professional associations

Additional requirements:

• Property documents for the catering establishment
• Building permit and change of use
• Lease or rental agreement
• Certificate of training in accordance with § 4 of the German Restaurant Act
• Certificate of no objection from the tax office
• Certificate of no objection from the tax office
• Extract from the debtor register
• Certificate from the insolvency court
• Police clearance certificate
• Extract from the Central Trade Register
• Identity card
• Certificate of training from the Chamber of Industry and Commerce
• Proof of reliability
• Appearance at the public order office

Fees for restaurant license:

Depending on the scope of the catering activities, the fees can amount to up to EUR 4,000 for a final permit. The fees are based on the size of the restaurant and the monthly gross rent. In addition, there are costs for a certificate of good conduct, an extract from the Central Trade Register, and business registration (together approx. EUR 50).

A company is only as good as its employees. This principle is particularly important in the restaurant industry. In addition to the external impact, you should create an organizational chart with job descriptions.

Organizational chart:

• Owner/management
• Commercial administration
• Service management
  • Service staff
  • Temporary staff
  • Cleaning staff
• Kitchen management
  • Sous chef
  • Kitchen
  • Kitchen assistants
  • Cleaning staff
  • Trainees

Once you have finalized your gastronomic concept, you should take a moment to consider the details. In addition to the food and beverages, the dining environment must also be just right. Technology plays a major role in this today. Therefore, keep the following in mind:

• Lighting
• Sound
• Ventilation
• flawless functioning of the technology
• Cooling
• Cable routing
• Storage
• washable walls and floors

Insurance is essential in the restaurant industry. The following types of insurance are mandatory when opening a restaurant:

Business insurance:

• Public liability insurance (personal injury, property damage, financial loss, environmental damage)
• Contents insurance (fire, storm, hail, flooding, water damage, burglary, theft, vandalism, robbery)
• Business interruption insurance (loss of profits, ongoing costs, wages, salaries)
• Closure insurance (epidemics, infections, suppliers, official closure)
• Glass breakage insurance (buildings, furniture)

Other insurance options:

• Personal liability
• Accident insurance
• Occupational disability insurance
• Legal protection
• Life insurance for entrepreneurs
• Direct insurance for employees
• Electronics insurance
• Event liability
• Cloakroom liability