The concept of ‘being your own boss’ has compelled many people to start their own ventures. Opening up a restaurant is not novel when someone wants to dive into the entrepreneurial world. Many fail to earn a seat at the success table mainly due to lack of experience and funding, while some just don’t possess the calibre to make it.
Here are some handy tips to make your venture doom-proof:
1. Gain Some Work Experience
Before stepping into the food industry, it is advantageous to gain some experience by working in a similar establishment that you plan to open. While on the job, you can not only learn the basics of customer service but can also gain a deep insight into the back-end working of a restaurant like a payroll, menu designing, marketing, and much more.
2. Understand and Analyse Target Audience
What kind of audience do you see yourself catering to? Answering this question will solve a lot of your confusion at a very early stage. Your target audience will determine a lot of your decisions, such as the decor of your restaurant, the locality, the menu, the staff you hire, among other things. Your ultimate goal should be to fill the stomach of a niche market. Ace the unique aspect, and you are good to go.
3. The Art of Crafting the Menu
You will want to leave a lasting impression on your patrons with your menu. Apart from hiring an excellent chef, keep in mind to strike a balance between traditional dishes and western cuisines. You might not necessarily want to keep an elaborate menu, but remember, it should cater to your target audience.
4. The Location
One of the ground-breaking decisions to make will probably be choosing the right location of your restaurant. It is essential that your restaurant is visible, easily accessible to your target audience, and has a ton of parking space. You would want to be near not only your target audience but also your vendors.
5. Licensing and Permits
Licensing is a vital part of opening your own restaurant. You need to get your licenses to serve food and alcohol (if you choose), as soon as you finalize a location. Getting these licenses and permits is a very time consuming and expensive process. But getting through with this will clear any further hindrance.
6. Staff Recruitment
It can become tough to ensure proper staff recruitment. The procedure may demand a lot of your time, but it is worth it. Don’t rush the process, go slow and steady, screen the applicants, and select the best of the best, because the staff you hire eventually starts to represent your restaurant.
7. Marketing Techniques
Every business needs a comprehensive marketing plan, be it small, big, old or new, and restaurants are no exception. Chalk out a marketing plan that is in alignment with your budget and advertise aggressively. Sell out coupons, hold contests for free meals, invite bloggers, and be present on restaurant discovery platforms, are just some of the marketing tactics that are known to work. Further, taking feedback from your customers and collecting data as to where they heard about you will also provide valuable insight. Once your primary lead generation source is clear, you can invest more in it.
Owning and running a successful restaurant is not always glorious. This venture demands countless hours of focus, dedication, attention to detail, and meticulous precision. The bottom line is to be prepared to work as hard and smart as you can!