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MenuWhat are the best ways to attract restauranteurs to a lease/opportunity?
I own a resort in a beach town of west Michigan, and have a restaurant Inwould like to re-open, preferably partnering or leasing the space to a seasoned restaurant entrepreneur. I have the space, liquor license, kitchen, 85-100% of the equipment needed, and built-in clientele. Thanks in advance of your suggestions!
Answers
Here are two things I might try if I were in your position:
1) One idea might be to partner with a chef and host a "open house". Send the invitations out to owners of other restaurants that are doing well (pitch it as an expansion opportunity), and also commercial real estate agents.
2) Reach out to your local restaurant associations, offering to host an event.
Hope this helps!
I would advocate including all of this specific information about what you already have in-place into your real estate listings. Describe why your hotel is great or unique, how you help drive flow to the restaurant, what your convention or group business is like and whether there are catering opportunities, etc.
I'd also look for restaurateurs who are seeking to open a second location or to develop a franchise. You can search for ads, read trade magazines dedicated to franchising or even search Google and Craigslist as a start.
You should also make contact with transactional and business law attorneys in your area. Find out whether they have clients who might be a match.
Then call other hotels in or around your area who have successful, well-reviewed or very busy restaurants. Go have lunch and talk to the manager.
I've worked at a Fortune 100 hospitality company for 15+ years. I specialize in writing résumés, but writing ads to attract lessees requires a very similar approach. I also help develop small businesses in partnership with an IP law firm. I hope this insight helps!
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It's hard to tell from your question what you have / don't have. Do you have an MVP? Do you have people using the 'discovery tool' yet? It will be hard to get any restaurant to pay you anything unless you have a deployed MVP already. You'll need to show them actual data of the value of your tool. To do that you need people to be using it to find restaurants. So put restaurants into your tool without the restaurants necessarily paying anything for the listing. Once you have traffic you can start charging the restaurants for certain features. That doesn't mean you should wait until your MVP is done before talking to restaurants though. To develop your MVP you should be visiting restaurants and talking to them about whether the features you're currently working on would be something they're actually interested in, and ask them open ended questions that may bring up ideas that you hadn't even thought of. If you'd like more specific advice on the types of questions to ask, or what the restaurants might want to see in terms of MVP data, or general MVP development help, let me know, best, LeeLV
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