Oklahoma City, OK, with its diverse resident population and wellestablished residential and commercial areas, presents a promising market for the establishment of a New American restaurant. This article provides insights into the prospects of the New American restaurant industry, initial investment required, return on investment, and suitable locations for opening a restaurant.
Residential Distribution:
Oklahoma City boasts a distributed population, with various neighborhoods supporting a vibrant community. Popular residential areas include Nichols Hills, Edmond, Midtown, and Downtown. Nichols Hills, known for its affluent residents, could be an excellent target demographic for a New American restaurant with its highincome population. Midtown and Downtown, being revitalized areas, attract younger residents and professionals, making them potential customers for a new restaurant venture.
Commercial Distribution:
Oklahoma City offers diverse commercial zones, each catering to different industries and demographics. Bricktown, a thriving entertainment district, attracts locals and tourists alike. Its proximity to downtown businesses and the Chesapeake Energy Arena makes it an excellent location for a New American restaurant targeting lunch and pregame crowds. The Creative District, located near the Plaza District and the Paseo Arts District, is another budding commercial area, with a focus on creative businesses and trendy eateries. Opening a restaurant in this area could cater to artistic residents and visitors.
Prospects of the New American Restaurant Industry:
As the food scene in Oklahoma City continues to evolve, there is potential for a New American restaurant to thrive. With its fusion of traditional American cuisine with international influences, a New American restaurant can appeal to both conservative tastes and those seeking innovative flavors. The growing interest in culinary experiences and dining out among Oklahomans adds to the viability of this venture.
Initial Investment and ROI:
To start a New American restaurant in Oklahoma City, an estimated initial investment of $300,000 to $500,000 is necessary. This includes expenses such as leasing or purchasing a suitable property, renovating the space, purchasing kitchen equipment, hiring staff, marketing, and other operational costs. The return on investment largely depends on factors such as location, brand reputation, menu pricing, and customer base. A wellmanaged restaurant can typically expect a return on investment within 2 to 5 years.
Suitable New American Restaurant Locations:
- Bricktown: Located in downtown Oklahoma City, this bustling entertainment district attracts a significant number of visitors and officegoers. Its accessibility, foot traffic, and proximity to popular tourist spots make it an ideal location for a New American restaurant.
- Midtown: With its trendy atmosphere and growing residential population, Midtown offers a prime opportunity for a New American restaurant. The neighborhood’s proximity to several businesses and young professionals provides ample potential customers.
- Plaza District: Known for its artsy vibe and independent businesses, the Plaza District is an upandcoming commercial area with a diverse and creative community. A New American restaurant could thrive here, targeting residents and art enthusiasts seeking unique dining experiences.
Oklahoma City’s diverse population, welldistributed neighborhoods, and evolving culinary scene make it an attractive location to start a New American restaurant. With the right location, initial investment, and proper management, entrepreneurs can benefit from the growing interest in dining experiences, satisfying the demand for innovative and fusion cuisine in the region.