Have you been longing to start up a Restaurant? Here’s everything you must know.
People never get tired of trying new food platters. i.e., Restaurant is one business area where the demand never declines. You’ve definitely chosen the right path. But hey, have you thought every aspect of it? If not, here you go.
Planning is the first and the foremost step. Only with the right planning, any business shall survive. Starting a Restaurant is no different. It doesn’t matter how big your budget is, without proper planning, it’s all mere sand art. From Location of the restaurant, menu, hygiene and service to steady financial flow, there are different perspectives to be monitored for surviving in a very competitive business arena.
The location and ambiance of the restaurant holds 40 % of the business traffic. For many people, restaurant is not JUST about the food, it’s also the visual and physical experience. Always, simple and sophisticated interiors give pleasant vibes to the customers. At an extend, the onsite experience covers flaws in other areas. The efficiency of parking area also is a defining factor of the customer flow. Menu itself is an effective honey trap. The variety and innovative presentation of dishes, indifferent from competitors gives an edge over them. Hygiene and Services is the most vital facet of the industry. One minute compromise on these, may lead to the downfall of the entire plot.
The mistake most people makes and eventually leads to the extinction is the Costing. A proper costing need efficient cost and revenue analysis. The intention should be on the positive side, to serve the customers at the price and right attitude. Profit driven alone may give false impression to the customers. The steady financial flow is the backbone of the business, which is necessary for the long run. The initial investment should remain as a capital, and spent in the business itself for at least a year. Be patient with the results.The most important mindset to have is the going concern concept for a long period.And with adequate customer management, the smooth functioning of the restaurant can be ensured.
Happy Restauranting. !