Our capital city is a vibrant and varied place, with a lot to offer in terms of eateries – even for the most discerning palettes! If you’re a restauranteur or business owner and you’ve decided to look for a new restaurant to rent in London, you certainly won’t be limited in scope or choice.
But it’s a big commitment. From choosing the right restaurant space for rent, deciding on the food and drink you want to offer, getting the right staff on board – and working out how to price competitively. All of these things (and much more) need to come together to create a venue that customers want to come back to time and again.
Not sure where to turn? We’ve put together a handy guide of the six things you need to consider when you want to find a restaurant for rent in Central London.
1. WHAT’S YOUR LOCATION DEMOGRAPHIC?
You should already have some idea of the type of customer you want to attract to your business, but this still needs thorough research. It’s no good rushing in to open a sophisticated tea room serving delicate scones and Earl Grey to daytime shoppers if the area around you is a regular haunt to twenty-somethings who only come out to play at night!
Think about what you want to offer when you’re on the lookout for a restaurant for rent in London…ask yourself lots of questions about who your target market is. Good pointers for these are: age, average yearly income, ethnicity, and family setups (if any).
2. LOOK INTO THE HISTORY OF YOUR RESTAURANT’S LOCATION
You need to know the history of the area you’re considering when choosing a restaurant for rent in London, but this isn’t solely down to just how it’s developed over the previous hundred years or so. It’s also good to take stock and look at other food businesses that have come and gone in the vicinity and ask – why?
Study and research establishments that have been there for years and have regular, popular trade – see what it is they do that keeps customers coming back. Avoid any areas that seem to have a high turnover of restaurant spaces for rent, as they may simply be in poor locations with restrictive regulations.
3. WILL YOUR RESTAURANT BE VISIBLE ENOUGH?
Finding a space for a restaurant for rent is one thing – making sure it’s visible and that everyone can see you is another. If there are lots of obstacles in the way, or people passing by can’t easily see your shop front, then it’s probably a good idea to pass on it.
Other barriers to think about when you’re on the lookout to rent a restaurant in London include being on a narrow street or passageway, and spaces that are situated away from main roads (meaning you might have to pay more to advertise). What potential blocks are there in front of your building (such as bus stops etc)? How many unrelated businesses are nearby? You don’t want masses of competition, but neither do you want to be the only food and drink operator in the area.
4. HOW MUCH SPACE DOES YOUR RESTAURANT NEED?
You should already have some idea of how much space you need when on the lookout to rent a restaurant in London. This will have a bearing on how much rent you can afford to pay. Consider how many customers you can comfortably accommodate, too.
Ask the following questions:
- Are you looking to appeal to large families?
- Do you want to attract more business people and their clientele?
- Would you rather target the youth market?
- How about whether you want to offer a takeaway/delivery option on your menu?
Think about the amount of restaurant space you need to accommodate all your staff safely and ensure that hygiene can be maintained at all times. Too many staff in a small space actually increases the risk of accidents and injuries occurring.
5. WHO ELSE IS NEARBY?
Ask yourself if you can comfortably fit in with your surroundings. If the answer is ‘no’ then it’s best to look somewhere else for a restaurant space for rent. For instance, if you want to open an Indian restaurant, then the best place to look might be near other Indian establishments, shops, and cafes.
There are some instances where you could potentially look for a restaurant for rent in central London that happens to be next to other non-food related shops/establishments. As an example, think about the possibility of opening a salad or juice bar next door to a gym or swimming pool.
6. ARE RENTAL PRICES AFFORDABLE FOR YOU?
Last, but by no means least is the affordability of the restaurant space for rent. Profit margins in the restaurant trade can be variable, so finding somewhere affordable to rent, which means you can still easily meet the costs of all your other overheads is a delicate act to balance, but it’s not insurmountable.
The key, here again, is to think about the types of customers you want to attract. If you want to open an eatery in an upwardly mobile area then you should expect to pay rent that’s slightly higher than the average. However, also consider that you could choose to rent somewhere less expensive in an area that isn’t as affluent. In a scenario like this, you need to make sure what you’re offering is affordable for the customers to whom you’re pitching.
INTERESTED IN RESTAURANT SPACE FOR RENT IN LONDON? CONTACT BRIXTON ARCHES TODAY?
Whether it’s an eaterie, a retail space or a kiosk, it’s easy to find a restaurant rental that’ll suit your needs. If you’re ready to go ahead and invest in a high-quality space for a restaurant for rent, reach out today and take a look at what we can offer, right in the heart of Brixton.
