Bankers Bar & Grill Park Hyatt Vienna. 4 reasons that make a restaurant successful.
Running a successful restaurant over a long period of time is the dream of many. Many professionals would like to run their own place and even more people without any experience like to join the ranks and jump in from the side lines.
The Bankers Bar & Grill in the Park Hyatt Vienna can help you understand what it takes to run a great restaurant and stay popular but more important it will show you how many obstacles are in the way.
Asking yourself what are the most important items and features to run a great restaurant the Bankers Bar & Grill gives you the answers but doesn’t make it easier for you to decide if you should really open your own place.
The location of the Park Hyatt in Vienna is of course a great plus and a dream for restaurant owner. Am Hof Bognergasse are the old town and a place where Business, Banks and Tourist fill the street any time of the day and year. Opposite is the restaurant “Zum Schwarzen Kamel” which you never find empty. The Coffee shop of the Park Hyatt is also always full and you cant fight the feeling that you can fill any restaurant here if you don’t lock the door. On top of it it’s located in a historic building which adds flair and makes it attractive.
The Question is: Can you afford such a location?
You will need deep pockets and a substantial financial back up. One of the reasons why many openings fail.
2) Great service and Food
Park Hyatt offers for sure very high standards in Food and service. Also this comes with a price tag. Nowadays most hotels and restaurants are used to work with students, part timers and outsourced staff. Here you can’t get away with that. A monthly payroll for a restaurant with professional Chefs and waiters is a cost factor many like to save on – and loose. A restaurant that is every day busy can sustain this but a private owner who experiences a few days of low business a week of off season can get easily in trouble
The Question is: Can you afford this?
After paying your rent for the location you have to have even deeper pockets to stay afloat.
3) Additional revenues
As the Bankers Bar & Grill is located inside the Park Hyatt the other revenues – rooms – banquet – shops – rent are save incomes that can help you overcome difficult times. A restaurant on its own is hard to manage financially well. A restaurant located inside a hotel, inside a shopping mall or close to any additional attraction that draws in people has much better changes of survival and success.
The Question is: What additional reasons, attractions draw in your customers?
A successful restaurant is a place where your expectations are meet. Where you will feel cozy, appreciated or just grand – whatever you want. The Bankers Bar & Grill profits from the impressive former Banker Hall that has been designed into a restaurant and Bar with style and elegance. The design of the kitchen visible for the guest is impressive and well done. The design of the menu is a little out of place as it does not match the overall impression but it is something you will be distracted from. The design of lobby and reception of the hotel also doesn’t come even close to the restaurant impression which is a pity.
The Question is: Are you ready for a great designer? Are your pockets deep enough?
I had owners who designed a restaurant the way they liked it. They even didn’t think what there guest may like or not. Some designed by themselves without consulting anybody and some even without keeping the restaurant concept in mind. This way you will fail.
There are many more important details to consider before you open your own place but there are always places and people you can learn from. It doesn’t have to be high class like the Park Hyatt to be a success but this place just teaches a valuable lesson. Simple will also do. So once you are convinced of your idea don’t give up. Learn, try and take the risk.