How to Start a Korean Restaurant
If you are looking to start your own Korean restaurant, then this article will help you get started on the right page. In here, you'll find 4 steps that you will push you to predictable success.
You might be wondering how to start a profitable Korean restaurant business establishment of your own?
Starting a restaurant with right information will certainly push to success faster. Avoid mistakes. We will guide you to move forward and embrace this lucrative business.
Step 1 is to start with a Korean restaurant business plan.
Developing a game plan means knowing who will be your Korean restaurant business competitors and developing a strategy how to create business for yourself and take business from them too! Yes, it sounds harsh but that is how restaurants survive. Sooner or later your business will suffer if you don’t adopt this philosophy.
Here’s an example of a business plan. A family of 4 will only eat in one restaurant at a given time. Let’s say it was lunch time. If your establishment happens to be along a stretch of 4 other restaurants, your chance of getting that business is 1 to 5 or 20% chance. This means 80% odds are against you. A strategy is something like having a special menu outside your normal menu that one of the other establishments also offers. Now you increase your chances to 40%.
Having said that, also access who will be your Korean restaurant clients. What are the nearby neighborhoods you can reach? Are they Korean populated or mixed or maybe not at all? How far is the next Korean business competitor?
Next make checklists for fish, chicken, beef, pork and vegetable suppliers as well as a checklist for restaurant equipments.
Step 2 is settling your location, licensing and financing dues.
Start up cost for a Korean restaurant business includes remodeling overhead like renovations, plumbing, electrical, and air conditioning. Korean restaurant business licenses are also expenses that have to be covered. Try consulting with an accountant or a financial analyst so you can have a rough estimate of your initial overhead and what are your financing options. Also consult for a debt reduction plan. Often we are so eager to get into debt to start a business that we fail to plan how to get out of debt afterwards.
Step 3 is to hire a staff.
Make sure the people who work for you have excellent work ethic and attitude, are knowledge and teachable about your product and are people oriented.
Step 4 is to have a delicious Korean menu.
Korean menu primarily consists of steamed cooked rice, noodles, tofu, soup, vegetables and meat with use of several herbs and spices particularly doejang and gochjang. Kimchi, a spicy radish specialty, is unique to all Korean restaurants. Popular Korean meat dishes are Buljogi which is shredded beef, Galbi which is pork or beef ribs cooked over a metal plate, and Hoe which is raw seafood dish. Sundubu jigae and Samgyetang are the common soups and stews ordered while Naengmyeon is the common noodles ordered. And Bibimbap is their famous mixed rice. These are just a few suggestions you might want to add in your menu.
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