How to Start a Restaurant Business in Las Vegas

So you want to start a restaurant business in Las Vegas? This is one of the most rewarding, yet challenging businesses one can start in the city.  Las Vegas is known for its great eats. Along with that, comes many challenges due to the mature culinary makeup of the city.

We know food in Vegas, and some of the best restaurants in the world are here. Anyone can build a great restaurant business here in Las Vegas. However, proper planning is the key.

PLANNING
  1. 1
    Determine if the business is for you

    Often times, people make a mistake of riding the bandwagon because everybody is buzzing about it without thinking of the most important thing to consider. This requires an honest answer to the question, “Are you passionate about it?Knowing the answer to this question will shield you from the frustrations you’ll get when things don’t go your way in business, when things aren’t running as fast as you hope it would, including sudden misfortunes caused by unforeseen or unfavorable events and circumstances.

  2. 2
    Choose a Location

    A lot of good businesses fold for failing to consider a strategic location for their establishment, especially for a restaurant business.

    • For this reason, researching information for the influx of people, competition, and an ideal environment for your restaurant is important.
    • Checking sources from the Nation’s Restaurant News and the National Restaurant Association should provide you with a piece of valuable information.
    • Keep in mind that your restaurant business must be established in a commercial zone, make sure to acquire the documentation and the permits that you need.
    • In addition, make sure to research the health codes in compliance with the local food and safety regulations.
  3. 3
    Choose your Target Market

    • Knowing what caters to the needs of your target demographic for a restaurant business is definitely a factor to consider and trying to be a one-stop shop that provides for everything is a perfect recipe for a disaster.
    • Rest assured, you will never go wrong by focusing on your niche market that is in line with your passion.
  4. 4
    Write Your Business Plan

    Your business plan provides a framework on how your restaurant business is structured, runs, and operates. This important document is used for different purposes in line with the goals of the business including:

    • Sales
    • Marketing strategy
    • And finding potential partners and investors for capitalization.

    You may click on this link for a detailed guide on How to Write a Business Plan for a Small Business.

  5. 5
    Check Your Resources and Secure Funding

    Starting out a restaurant business or any type of business isn’t possible without capital and for you to know how much money you would need, you have to write down everything that your business would require that includes:

    • Suppliers for food and beverage
    • Cost of Labor of all employees including the management, hosts, servers, and kitchen crew
    • Administrative Costs including paper supplies and paper goods
    • Marketing Costs for Ads, waitlist apps, and Social Media Presence
    • Expenses including rent, utilities, and property taxes

    It is a given fact that no business can start its operation without securing funds for capitalization. Given that you have taken everything into consideration and assuming that you have written a well-thought and carefully crafted business plan, you may now use it to secure funding for your restaurant business.

    You can check your local banks for loans or opt to check the US Small Business Administration’s funding programs.

  6. 6
    Decide on a Business Structure

    • Most startup businesses run as a sole proprietorship since it is easy to form and gives you full control. However, it isn’t a good idea due to the fact that your personal assets are in line in cases when your business incurs any type of liability.
    • In this case, consulting with a small business attorney and an accountant would help in coming up with the best decision.
    • You may also opt to have a free consultation and advice from the US Small Business Administration given that they have small business development centers (SBDS’s)  that can help in executing your plans.
  7. 7
    Take Care of the Administrative Stuff

    • Whether we like it or not, we have to take care of dealing with a lot of paperwork based on your business structure that includes preparing your LLC Operating Agreement or your Articles of Incorporation if you are running the business as a Corporation
    • You would also have to File Organizational Paperwork with the Secretary of State, Obtain Licenses, Process Tax Registrations, and other related tasks
    • To Find out more of what needs to be done based on your business structure, you may click on the following links on How to start a Limited Liability Company in Nevada and How to Form a Corporation in Nevada
    • If it might help, you may also read more on Choosing Your Las Vegas Business Structure.
EXECUTION
  1. 1
    Design Your Space

    With the influx of people in the burgeoning communities in the State of Nevada, along with the growing appetite for a taste of something that is unique, palatable, and deliciously satisfying, it is important to:

    • Distinguish your restaurant business from the rest that is already established. Whether your restaurant business is a food truck, a cafe, a pop-up restaurant, fine dining and anything else along these lines, your restaurant design creates its identity that gives customers an impression that would give them a reason to patronize your establishment.
    • Make sure to check your competitors, their products, and anything that is unique that would be a good addition to what you are trying to create.
  2. 2
    Hire Employees

    Great things start from small beginnings and the same idea is important to consider in hiring employees.

    • Make sure that it is growing to a point that it is profitable enough for you to add more to your workforce.
    • Make sure that you have a system in place in terms of training, growing your people to a point that they are capable of doing the job with minimal supervision, and see to it that your business adheres to Nevada Labor Laws.
  3. 3
    Find and Choose Your Suppliers

    • Identify the products and supplies that you need which includes paper goods, food, beverages, equipment, and miscellaneous details
    • Consider purchasing wholesale
    • Look for bargains from supply shops while making the most in getting the best deal that works with your budget in consideration to the quality and standards that is acceptable for your business.
  4. 4
    Fine-Tune Your Menu

    • Every established restaurant business follows a standard and ensures the consistency of the quality and the taste of the dishes that are available on the menu.
    • Hosting a soft opening of your business with a small circle of trusted family and friends to fine-tune what your restaurant has to offer would greatly improve the value that you bring in the table for your target market.
    • You might even be surprised to hear ideas that could be a good addition to the things you have initially set in place.

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