As start-ups can be akin to new, innovative business ideas, pop-ups can be attributed to creative chefs eager to make their dreams become reality. What is the link between start-ups and pop-ups? They’re test environments.
Pop-up restaurants are mini restaurants that temporarily operate in parks, plazas, larger restaurants, and tourist environments. An attractive option for many restaurant owners, pop-ups allow chefs to test their ideas with little financial risk involved.
But before you can open your pop-up restaurant, you need to iron out some details.
Purpose of Your Pop-Up Restaurant: Why do you want to open one? Is it to experiment with a new business idea with little risk? Or, do you want to expand your offerings to people at a lower price than what would be charged in a gourmet catering environment? Know why you’re opening one and build your goals around that purpose.
Location of Pop-Up Restaurant: Who is your target audience? Do you want to reach tourists, millennials, or baby boomers? What type of kitchen set-up do you want? Do you need access to electricity? Some chefs prefer to have their pop-up within a larger restaurant so they can have access to dining space and kitchen amenities.
Insurance for Pop-Up Restaurant: Our specialty. Just because you don’t have the responsibility of running a full-sized operation does not mean insurance can be an afterthought. Liability is attached to any business venture. Owning a credit card machine opens up the possibility for cyber crime. One exposure can cost you thousands of dollars if you’re not properly protected. Serving alcohol? You’re going to need liquor liability coverage.
Pricing a Pop-Up Menu: A mini-restaurant means a mini-menu to go with it. While you may need to downsize your offerings make sure not to downsize on variety. If your menu follows a theme, make sure to offer items that complement each other.
Advertising is a crucial component to increasing awareness about your new business venture. Leverage social media, newspapers, or perhaps create a quick pop-up website to compliment your pop-up restaurant. Don’t forget to create eye-catching signage!
If you’re already in the process of building your pop-up, or need insurance to insure a standing one, give Brian Kilcoyne a call at 617-612-6515 or email him at briankilcoyne@hkinsurance.com.
Brian Kilcoyne marries restaurant owners with custom policies all throughout the Greater Boston Area. He prides himself in protecting your assets just as much as he takes pride in watching his son do battle on the wrestling mat and skiing with his family. No matter if he’s in front of a client or atop a mountain, Brian puts forth his best effort in everything he does.