Over the last couple of weeks, we’ve been prepping you on how to think when looking for a new location to open up shop. There are tons of things to consider before expanding to a new location, but one thing is clear: preparation is key.
London isn’t only the British capital, the biggest city in Europe and the only city to have hosted the Olympic Games three times. The city also offers one of the liveliest restaurant scenes in the world, with thousands of eating places and countless of possible locations for a new one. We’ve crunched our data to create a heat map, showing the most popular and crowded areas for restaurants and cafés in London.
Why is it that some areas become so much more popular than others? Unfortunately, there’s no secret recipe. It’s all about finding a good fit between the area, the venue, and the financials.
Regardless if you’re looking for a location in London, or elsewhere in the UK, here are the most important takeaways from our previous blog posts on this subject:
- Make sure you have a location strategy put in place, and know what you need to prioritise: Rent, traffic flow or the neighbourhood.
- If you already have a restaurant or cafe, consider looking for your next location in its vicinity and create a small hub of eating places.
- Consider other eating places in the area. Will they complete or compete with your business?
- Regulations and licenses are crucial to consider. Make sure you have the right license needed for opening up a restaurant or café in the venue you’re considering. Turning a former retail store into a restaurant requires countless hours of bureaucracy before an approval.
- Take your potential neighbours into account. You could spend a small fortune on soundproofing, but your guests will still leave and make noise outside your place. Will that be a problem?
- Dig into the demographics. Is your target audience present at your new location? Research multiple neighborhoods thoroughly before signing a lease.