Are you planning to open a restaurant? That’s a great idea, but only if you have completed all your homework perfectly. This business is one of the most competitive businesses. Opening a restaurant is not as easy as it seem to be. It’s a real business, just like any real business, it takes lot of time, capital, and a lot of effort to get rewards. You have to think deeply, do a survey of following things:
1. The food and dining trends of people
2. Chances to having a restaurant in your planned area
3. Minimum required capital, and your maximum budget
4. Inputs required
After doing all the above said survey, plan accordingly, discuss with people in this business, if possible consult some professionals in Restaurant Consultancy for more ideas and suggestions. There are several Restaurant Consultants in market having expertize in opening and managing restaurants.
Remember that your customers are your bread and butter. So, your main focus should be over the needs of customers, their power of expenditure, dining and drinking habits, and most important their satisfaction with the services you are going to offer.
Business Plan
The business plan is essential to any new venture. Your result depends upon your business plan. It’ll be the building block of your success in your venture. The business plan should be based and focussed over the earlier said surveys. It is an exercise in focusing your ideas for the business and taking a comprehensive view of all the factors involved in its success.
There are three major sections of a business plan:
1. A narrative document describing the various aspects of the venture and supporting documents
2. A set of financial statements that demonstrate the profitability of the project
3. A set of supporting documents such as proposed menus, speciality cuisines, employees, leases, floor plans, entertainment facilities, and the basic licences required.
Food and Dining Trends
Food and Dining habits of people vary depending upon the area, religion, climate, and availability of stuff. This is the core concept behind any restaurant. Your cuisines, drinks, and deserts will decide your success. Recent food and lifestyle trends show that people want quick service – but not necessarily based on “fast food” formulas.
Marketing and Advertisement
You are going to open a restaurant, but how people will know about it. How they’ll notice a new entry in already flooded market. You have to make people aware about your entry in this segment through proper marketing and advertisement. Restaurant marketing is crucial to both start-up success and the building and maintaining of critical sales levels. There are many things you can do in house. Direct and community marketing is also a good idea. Decide about your ways best suited in that particular area.
Training of Employees
It’s very important to have well trained employees in your restaurant. You need to have experienced chefs, smart, friendly and well mannered serving staff, and managers. It may add few thousand bucks in your starting capital, but you will notice the impact in your sales, and in smiles and satisfaction level of your customers.
The Key facts you should keep in mind are:
1. High-quality quick-service experience
2. Premium, hygienic, and tasty food
3. Energetic and attentive employees
4. Comfortable and pleasant ambience
5. If possible “watch-it-cooking” atmosphere
If you will keep all the above said things in your mind, it’ll be a pleasant experience owning and running a successful, popular, and high earning restaurant.