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I think we are going to need a little more information for the first question.
What type of food will it serve?
Where will it be? Is it good?
What is the current environment where you are thinking of placing it?
Opening a restaurant is always hard. Gauging people's tastes is difficult, but if the food is good, the traffic flow is good and the market can take another restaurant then the time is right.
I suggest you look into SCORE, their services are free and you can get detailed help to get you ready to open your business.
Proper planning can help you succeed.
Please Input Your Thoughts On This, Welcome to this web site.
Tell us more, like who you are?? Where you are?? Why a restaurant??
The more you share, the more info I can put into my crystal ball and hopefully give
better answers. Also you can go to Members page and share more info.
I am a SCORE Counselor (as Iwrite wrote) and yes we do help develop Business Plans
*and Yes I have *used Business Plan Pro software Great tool for the money.
Good luck, LUCKIEST
Not to be flippant, but it is my opinion that people always have to eat. If you have a fine establishment....good menu, fair prices, clean building, friendly staff, it is a recipe for success - - - people love to eat and tell their friends! I have seen some restaurants operate only specific hours like a early morning for breakfast until noon, or a restaurant that opens from noon to 7 or 8 p.m. Of course, your location is a driving force - - -if you are near shopping or not? Who do you want to cater to is another important fact - - -do you want to go for families? couples on a romantic date? truckers and construction workers, etc?
Consider buying versus starting a business. Restaurant are always for sale. Buying an established business would be easier to finance and you would have positive cash flow right away. Talk to a reputable local business broker who may be able to help.
You can find a broker at the member directory www.apmaa.com
which is a trade association of business brokers.