Q. What, according to you, are the five industry secrets every restaurant must adopt for success?
In order to activate each and every one of the profit drivers, you must implement a set of tools or systems that are customised to your business. These systems must be strategically positioned to gain the maximum effect for your business. There are 7 systems that you must implement for the 6 profit drivers to be activated, these systems include:
1. Marketing
2. Branding
3. Key performance indicators and time management
4. Organisational development & Business Structure
5. Finance & its Systems
6. People Management Skills & Training
Within these 6 systems lie the growth formula for success. If you implement a plan to incorporate each of these areas, your business will grow very rapidly. This is one of the most important areas where business owners get trapped. The trap is a catch-22 as the majority of business owners don’t have the time to implement all the systems to help their businesses grow. However, it is those business owners who invest the time to develop systems in their business that benefit in the long run as their business then runs on autopilot. To develop your business to that stage, you must be able to analyse, optimise, systemise, document, and track business successes and failures.
Small to medium-sized restaurants have always been and always will operate in a cut-throat environment, and unless you take the steps to map out your pathway to success, your business will always own you and not the other way around. Plan for success, and succeed in your plan.
Q. What are the industry trends that you see taking off in the next five years? Also Please include your thoughts on the growth of restaurant management technology in this section.
1. Health And Wellness Top The Menu:
As baby boomers accept their collective aging, dietary issues gain momentum not just for themselves but for their children
2. The ‘next’ Cuisine:
My vote goes to Peru. Its government is promoting the cuisine, which is a fabulous fusion of Italian, Japanese, Indian, Spanish and indigenous cookery. It will certainly be a part of the next wave of specific regional cookery. Nobu came from there; it’s hot, spicy, and with creative flavours.
3. Chef-driven Restaurants:
Celebrity chefs are hanging their names on reinvented restaurants. More chefs are following this exercise in “brand extension.” When you get “Sautéed snapper with edamame dumplings in a ragout of mussels” in a chef-driven restaurant, you know that the category is being redefined.
Hotels, restaurants and shopping centres laying big money on these chefs because they’re competitively desperate to draw crowds.
4. Ethical Eating:
“Fair trade” and “sustainable” are terms gaining traction with restaurant chefs and Indian consumers. People aspire to
feel ethically comfortable about the food they buy: they want uncaged chickens and their eggs, humanely raised animals and environmentally friendly packaging. They’re looking for locally grown products that reduce the global warming impact of moving food around the world.
5. Izakayas:
Tapas making way for Japanese small plates. Restaurateurs are opening Japanese taverns, called izakaya, all over the world. These are homely places emphasizing modestly priced Japanese hors d’oeuvres washed down with oversized bottles of beer and overfilled glasses of sake. Some of the food may be unfamiliar, but people are willing to risk $5 or $6 to experiment. You’ll find izakayas in London, Toronto, Vancouver, Seattle, LA (where, predictably, they’ve morphed into fusion menus). I’m sure it won’t be long before they come to India.
Raminder Bakshi has certainly created a niche for himself in the F&B industry. His diverse experience in domestic and international markets makes him a one-stop solution for all food industry related glitches. We are so glad we had a chance to chat with him. Want to find more about Mr Raminder Bakshi, visit here.
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