Beginning a new business venture is always exciting.   Our guide will help you to prepare for the challenges, the setbacks and all the rewards in between as you set sail along the journey of business building and ownership! The hospitality industry presents prospective business owners with a dynamic range of options, welcoming everything from vendors and stall holders to some of the most innovative ideas to hit the market. However, a concept without a real plan can quickly become detrimental to your success, seeing you failing before you’ve even opened your doors to customers! Let’s look at what you can expect in a bit more detail. Getting your business online In 2019, establishing an online presence and most importantly, maintaining it, is one of the most crucial fundamental aspects of starting a business in any industry. Cyber security and data protection methods should also be put into place to help ensure your customers’ privacy or client information is secure from those intending to misuse it. Especially for the hospitality industry, social media and modern marketing strategies are the new ‘word-of-mouth’ and play a defining role in today’s restaurant game. A well-developed online marketing strategy can help you successfully grow your customers, so make sure you consult an expert to come up with a plan that’ll maximise your presence! Getting the basics right Researching for the optimal location, renovating and recruiting the right staff are among the easiest parts of starting a business. But what about the rest of the basics? There’s not much purpose in composing a launch plan and setting a date if you’re yet to discover and organise other fundamental parts before the doors open. This can include things like cyber security and client data protection, tax and profit-taking responsibilities, and time-consuming processes like licencing or certification procedures. This also might be a good time to ask yourself if you fully understand your leasing and rental conditions. For example, are there any limitations on patronage or perhaps conditions relating to expansion of a dining area onto a street or courtyard? Also bear in mind the importance of not breaching branding rights of other businesses when developing any business names, logos and other marketing materials.  This also works in the reverse, preventing potential competition from profiting off your ideas. Location, Location, Location! Choosing where to set up shop...