Beginner’s Guide on Starting an F&B Restaurant in the United Kingdom
A quick glance at how to set up an F&B restaurant business in the UK by 3E Accounting.
As far as the industry goes, there is always a market for food and beverage, or F&B. Statistics show that the food industry contributed approximately GBP148 billion to the economy last year. It is certainly the UK’s largest manufacturing sector and globally is expected to rake in approximately USD6111 billion. Scroll on to find all you need to know about starting an F&B Restaurant in the UK and getting in on the food game.
The United Kingdom has roughly a hundred thousand restaurants or food businesses. While Brexit and the pandemic have taken their toll, it remains an essential industry that has sustainable and scalable growth opportunities. As a business, owning, operating, and running a restaurant is hard work, but the rewards can be highly fulfilling.
The restaurant industry is doing excellently in the UK on the strength of the increasing disposable income of residents. To run a successful F&B restaurant, you need to study other restaurants in your area and compete with them by offering something unique. Visit the eateries at your location and understand their pricing, quality, and service. Take a survey to find out what people like to eat and what kind of service they expect.
Make a Detailed Business Plan
You need to prepare a detailed and in-depth market analysis, research, branding strategy, and financial forecast. Include your F&B concept and design, as well as a working menu. Consider whether you want a full-fledged restaurant or a few pop-ups, or a market stall to test the waters first.
Location, Suppliers, and Equipment
It’s best to do your due diligence on these before actually starting. A large chunk of financials will be based on these areas.
Location is a crucial factor when setting up a restaurant. Your outlet must be easy to access for people, and there should be ample space for parking.
Buying the right equipment is vital to ensure proper functioning in the kitchen. It will impact the speed of preparation and the quality of food you serve at your restaurant. Refrigeration equipment, especially, is important to maintain kitchen efficiency.
Your restaurant’s food quality will depend a lot on the quality of the raw materials you use. The raw materials also impact your service and your food costs. Hence, it becomes essential to choose the right supplier for your restaurant.
Business Registration Process for Starting an F&B Restaurant
Choose your entity structure, and register with Companies House and HMRC. For the business vehicle, you can choose between a sole proprietorship, limited company, or partnership. You also need to know about matters like how to set up your business website, open a bank account, and install restaurant-specific software. You should also check and apply for a fair tariff on gas and electricity. 3E Accounting United Kingdom, with its rich experience in matters concerning company registration in UK can guide you through the registration process easily.
Licenses and Permits
The most crucial part of starting an F&B Restaurant is to ensure all licenses and permits are in place. 3E Accounting has several years of experience in company incorporation services and will guide you to procure the essential licenses and permits for your restaurant. The F&B industry is tightly regulated as food safety standards can adversely affect the public’s health and safety. The UK’s F&B industry is governed by the Food Standards Agency (FSA), which is a Government-appointed body. You should also know the hygiene standards and legislation thoroughly. You can find this on the Government’s Food Safety Regulations website.
Amongst others, your F&B business will need the following approvals from local area councils:
- Planning permission to ensure you can use the premises as a restaurant.
- Food premises license to handle all dairy and meat products.
- Alcohol license to sell alcohol to be consumed in the restaurant.
- Food hygiene certificate.
- Pest control certification.n
As part of your compliance with regulations, you will also need to record details on food product purchases meticulously. These need to be presented for inspection by the relevant inspectors.
As this quick read about starting an F&B Restaurant in the UK indicates, setting up is quite a process. 3E Accounting, the UK’s No.1 United Kingdom corporate service provider, is ready to assist with customizable business solutions. We’re happy to do all the leg work, leaving you free to focus on running the business. Contact 3E Accounting today, and speak to our team of company formation experts for all the help and guidance you need.