When it comes to developing a profitable concept, W&W Restaurant Consulting Group will help you find your way. There is an abundance of mistakes that aspiring restaurant entrepreneurs make when they come to us with their ideas. Here are just a few examples:
- they focus on a menu of foods that they grew up with, perhaps family recipes handed down through generations, that they think will excite people. But just because those recipes appeal to them, doesn’t mean it will have enough appeal to others to generate the sales volume needed to produce profits.
- they want to offer something unique and new – but how do they know that there is enough demand for the new concept to make it profitable?
- they want to offer too broad a menu to appeal to too broad a market. By doing so, they increase their initial investment in equipment and bury themselves in too much complexity of operations for someone who is relatively new to, and has limited experience in, restaurant management.
- they don’t specifically define “a brand” and thus never establish an identity.
W&W Restaurant Consulting Group views a concept from the standpoint of risk. We strive to sculpt a concept with our clients that meet these criteria:
- The concept has been proven to be successful in the same or in a similar form. Offering a concept that’s already working, but doing it better, is much less risky than bringing a whole new concept to the marketplace.
- The concept must be able to generate gross sales of one to two times the investment.
- The concept must be able to produce an operating profit margin of 15 to 20%
Let W&W tell you if your concept can make money. Contact us for an initial phone consultation at no charge. Our opinion might save you a fortune.