Restaurant feasibility studies are most effective when multiple site locations are being evaluated or the site is under contract. Feasibility studies generally consist of two parts. First, feasibility studies take into account the site demographics or the study of the population surrounding the proposed location, competition and price value strategies. Additionally we evaluate alternate potential sites, special advantages or hazards of the proposed location for the business, terms of lease, rental rates, special assessments, tax projections and closing costs.
Feasibility studies also require a comprehensive financial analysis of the restaurant’s projected income and operating expenses. Our feasibility studies include market analysis with ROI which serves as the foundation of any comprehensive business plan. Our restaurant feasibility studies provide the restaurant operator a pro-forma and expense statement for the first year of operation with labor projections and wage scales, in addition to food and beverage costs to form the basis of the ‘prime operating expenses’.
Synergy Restaurant Consultants provide detailed feasibility studies that include capital budget expense, sales projections