A entrepreneur in Santo Domingo, Dominican Republic, Raquel Baquero owns half of Transwest Enterprises. Prior to this, Raquel Baquero owned several other companies, including Cabo Verde and Aqua Sushi Restaurant and Bar, the latter of which achieved ranking among the country’s five best restaurants. Here are three important considerations when choosing a restaurant concept.
1. Study the competition.
In any given market, there are competing restaurants in the same price range and with the same target audience. For this reason, new restaurant owners must consider their competition and examine how their restaurant will stand apart. This might be in the form of offering different food or a memorable, unique customer experience.
2. Think of what is inspirational.
Whether it is based on their upbringing, heritage, or something else, almost every chef and restaurant owner have something that inspires them. Building a restaurant concept around this source of inspiration is often a good starting point. Finding this source of inspiration, of course, takes a hefty dose of introspection.
3. Consider the location.
The ideal location for a restaurant depends on its target audience and overall look. For instance, a food truck concept is not the best idea if the target audience consists of people from upscale communities. Location and concept must fit together and cater to one another. This increases the chances of the restaurant being successful.
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