In establishing a restaurant, there are certain factors that must be taken into consideration. In picking out a location for the restaurant, the first thing to do is analyze demand; this includes population growth of the said location and density and factored in median income and income growth. Determining all these can be simple as well as complex depending on how you make it. There are sophisticated location analytical tools which include; demographic and lifestyle data, traffic pattern information and competitive analyses.
These are some of the best places in the world to set up a restaurant.
1. Cedar Park, Texas
This city is a major suburb of Austin with an estimated population of about 75,226 according to the 2017 census. It is a fast-growing county with a small city population extending to Travis County. Cedar Park has a number of financial incentive programs available for businesses that are creating new job opportunities, increasing the local tax base and bring about a rise in the local per capita income of this county. This is one of those best places to start up a restaurant business without any stress. It is fast growing and as the years go by, there is a 10% estimated increase in the population of this county.
2. Macau, China
This is another fast-growing city in the world with an 8% rise in Gross Domestic Product (GDP) and employment increase by 4.2% in 2017. There is a rapid influx of people in this city, thus a total population of about 650,900 (2017 census). This rapid influx of people has brought about rapid development in this city. As a result, businesses are emerging, boosting up the local economy and living standards of the inhabitants. A restaurant business will be one of the best businesses to establish in this city.
3. Oslo, Norway
This is the largest city in Norway with a total population of 648,000. This city has ranked first in terms of the lifestyle quality in Europe and also the second most expensive city in the world. Looking at the living standards, it is very high, with a very stable economy as such deserves a good restaurant for its inhabitants.
Who doesn’t want to visit Tokyo? Not found anyone yet. With the influx of tourist, the on daily bases deserves a good and luxurious restaurant for its inhabitants. Make sure you invest in nice hot food display to attract Japaneses as their are very visual.
5. Luanda, Angola
This is one of the African countries where living standard is considered high. If you want to invest in the restaurant business in Africa, Luanda has got that great site for you. With a population of about 5.9 million people and a growth rate of +4.4%.
6. Copenhagen, Denmark
With its economically stable condition and high standard of living, there is an influx of investors and visitors in this country. You need to open a restaurant in 2018, try Copenhagen-Denmark.
7. Toulouse, France
The total population of Toulouse amounts to 441,802, more than enough population to consume in one of 2018 most sophisticated restaurant.
8. New Square, New York
New York is noted as one of the biggest cities in the world, with its extravagant lifestyle, economic growth and growing population of 6,944, perfect for a restaurant in 2018. When you start a new restaurant in New York, we also recommend that you invest in social media, Google Adwords and Google Maps to promote your business ad beginning
9. Franklin, Tennesse; Due to a rapid increase in population in this City, trying a restaurant business in 2017 will be exciting and profitable.
10. Fishers Indiana; With a population of about 90,127, the economy keeps skyrocketing as many people flock to this city, a restaurant business will play the trick.