Do you have a kitchen full of delicious family recipes? Do friends and family keep telling you that you should open a restaurant? Should you consider venturing into restaurant ownership, there are a number of things you may need to investigate first such as a theme for your restaurant, the legal structure of the business, where you will locate, how your restaurant will be managed and marketed and insurance coverage for your New Jersey restaurant.
You may want to choose a niche for your restaurant such as creative deli sandwiches, unusual pizza pies, all vegan, or ethnic cooking to name a few. There are many things to consider and attend to such as the legal structure for the business, registrations and permits, identifying suitable premises and purchasing equipment and stock. A smart marketing strategy is crucial as is a skilled manager if you won’t be filling that role yourself.
One of the most important considerations for your restaurant may be insurance. It is vital that you have the right business insurance policies in place for your New Jersey restaurant before you serve your first customer. You may need property insurance for your equipment and building; business income coverage for lost income resulting from a disaster; and liability insurance should your products, services or employees harm customers. You may also need insurance for equipment breakdown, food contamination and workers’ compensation. Your agent may help you design an insurance plan for your unique family restaurant.