Good location but expensive rent! How to manage risks to suit your restaurant

When choosing a location to open a restaurant, I believe that many entrepreneurs or future entrepreneurs will have the opportunity to make a decision.
Between a space with a low rental price but inconvenient traffic, visibility or travel to the store, and an area with excellent traffic.
It is convenient for traveling and has parking, but the rent is quite high. Which location should I choose?

“Location” is considered one of the factors that determines the success or failure of a restaurant business. Choosing a location, the factor of cheap rental prices
And expensive definitely has an impact on the decision because it will be a fixed cost that the entrepreneur will have to pay every month until they stop doing business.
The first important thing when choosing a location is to answer the question of what type of customer group the shop is suitable for. If we don't understand the concept of our shop,
Which group of people are suitable for the products we sell? What age group? How much do they spend per meal? What are their lifestyles? It is very difficult to open a shop and keep it afloat.

Even if we open in an area with heavy traffic, such as a shopping mall or community mall, if the product we are going to sell
It doesn't match the group of people in that area, it's difficult to sell and eventually have to close down. But if you can analyze that the group of customers is suitable for your shop,
What is it like? Even if it is an area with low traffic or is not very convenient to travel to, it answers the question that this area has your target group.
Just use the many social media tools available today to help your customers know about your store. This way, your business can continue.
Just understand first that what you are going to sell is suitable for which group of customers and where they are located.

For those who have analyzed and found that your customer group is in an area with very high rental fees, the next thing to do is:
Feasibility analysis or assessment of business feasibility
By estimating the sales expected to be made in this area within the lease term.
and deduct from (1) the investment cost of starting a business

such as

Drafting fee

Construction costs

Cost of various kitchen equipment

Container cost

Cost of raw materials for starting a business

Employee uniform camp

POS system costs and more

Then deduct from (2) the estimated monthly expenses each month until the contract is completed, such as:

Food cost

Beverage cost

Employee wages

Business Owner Wages

Water fee

Electricity bill

Gas cost

Internet fee

Rental fee

Marketing cost

Equipment repair costs

Tax

etc.

If, after analyzing (without favoring yourself), it is found that there is a possibility of profit after deducting expenses in both categories, this information will be helpful to us.
In deciding to open a shop without worrying about location, many people have been hurt by both types of locations, whether it is a location with low rent or a location with high rent.
This is because there is a lack of feasibility analysis and a lack of study of the behavior of people in that location.