There are many factors that contributes to the success of a business, from how and where the establishment is located to one's managerial skills. But the three main factors that one should really consider before starting a business like a restaurant are:
Supply and Demand + Target Audience
There is a reason why the Law of Supply and Demand is taught in business courses. Simply because it works. Before starting out a restaurant business, you must first see to it that whatever you are trying to sell is in-demand or will be in-demand in that area. You must first know your target audience..
As an example: Before you start building a Japanese Restaurant in an urban area, you must first conduct a small research about the people living in that area. Do the people living there like eating raw foods such as sushi? How many of those people have the ability to buy and eat in a restaurant? If the result of your research is positive, then conduct again another research on how well can you acquire the materials/foods needed for the business. If you can't cater to the demand, chances are your business will suffer.
Quality and Affordability
It is not surprising that one factor that contributes to the success of any businesses is the quality of the product or services being sold. In a Restaurant business, this is usually determined based on the quality of the food, how delicious the food you are trying to sell is.
However, it is not always about the quality. As per the example above, people living in an urban area might not be able to afford some of the menus in the restaurant. No matter how delicious your food is, it's all moot if no one will buy it. Thus Quality along with Affordability is the key in here.
Services Provided
I have been to so many restaurants before and one thing that made me not visit again some of them is how they treat there customers. The success of a restaurant business does not stop on the quality of the food but will continue on to the people selling the food, the Services of the restaurant. A restaurant with a friendly atmosphere usually ends up with lots of loyal customers going back to their establishment.
3 This priority factor will be the foundation of your restaurant's success. With original concepts, business plans and locations, you can then switch to developing more creative aspects of your business, including finding the right talent, developing menus and designing customer experiences.
1. Originality (Authenticity)
One of the best ways to make a breakthrough in the culinary business is to offer a new experience. Regardless of where you live, consumers will always be moved by new ideas. In addition, there is always the potential to utilize untapped markets (some out of the box ideas are needed)
2. Business plan
A solid business plan is as important as the success of a restaurant, but often there are still many businesspeople who rush to ignore the business planning process. A business plan will help you, your partners and your investors map goals towards success and also plan for the worst possible things in anticipation.
Your business plan must include a general overview of the market, competitive analysis, target audience insights and realistic budget projections.
3. Main location
Poor locations will make or break the success of your restaurant. Opening in an area without much traffic or road access will make potential visitors uninterested. On the other hand, renting a place on a block filled with loved places will also make it difficult to attract new customers.
Finding the best location depends on your city and varies from urban areas to suburban areas. In addition, rental requirements and building permits will also affect the choice of your final location, and because the process can take months to complete, you should immediately begin the process of selecting the location as early as possible.
Customer satisfaction is the main thing in the culinary field. Family satisfaction can be created through various factors, namely, the ideals of food and the process given.
The service process itself will study the menus available in a restaurant, adjust them and presents knowledge about menus that can be ordered according to the menu to be ordered. Besides that, when serving the food menu, it is friendly and polite. it will be very easy for you to create an image for the company you are managing. As business people we have to understand who our customers can meet their needs well, for example the environment where we are close to the campus or shopping center, so the menu and prices available will adjust to environmental needs.
2. Maintain cleanliness and comfort of restaurants
The cleanliness and comfort of a restaurant is very important for restaurant visitors because of the clean place comfortable being one part before they decide to eat. Cleanliness and comfort in the restaurant including seating arrangement, table, toilet and kitchen cleanliness. It is not a thing that there may not be one or two visitors who are not removed from the kitchen.
3. provide menus and prices according to location
As mentioned above, provide interesting food and beverage menus, which do not exist elsewhere, new discoveries to attract customers. For example In the form of presentation, in cooking dishes are also important in the presentation of each menu provided in the restaurant. and the mainstay's mainstay menu in the restaurant as a customer puller of course. In addition to the things mentioned are looking at market conditions or the restaurant environment, we are not mistaken, at least the menu and prices available with our business location.
Suppose the restaurant is close to school or campus.
Before citing a restaurant, there are certain factors that one needs to bear in mind. Some of these are:
1. Location. The location where a restaurant is Sited to a great degree determines the quality of the people that will patronize you. Is it in a city, a busy location, a small town, etc. If it Is located in the heart of the city, you can tell that you will have class come eat at your restaurant.
When choosing a location, put parking space into consideration. I mean, no matter how good you cook, if there's no good place for your clients to park their vehicles and drive out with ease, I'm sure they will drive past your restaurant. I've visited a friend very often in the city of Abuja and this was a major challenge to him. He'll tell me, I would have loved us to eat at that restaurant but there's no place for me to park my vehicle.
2. Another factor to be considered is the quality of meals. If success is a goal, quality should not be compromised. How well you do what you do is what will make you stand out. I've been to some restaurants here in Akwanga, Nasarawa state. I'm sorry to say, some of the meals are apologies, a waste of time and money. If not for the situation that warranted it, I would have preferred to cook my own meals than eat out.
Give people quality and tasty meals, I bet you've just won a permanent residence in their hearts. When this is in place, I bet they would want to come back in fact with their friends no matter how expensive the meal may be.
3. Cost of meals. This really is important too for you to achieve long term success. Is it affordable? I mean, nobody wants to spend a fortune before eating a decent meal. Go out there and do a market survey of the average cost of a good meal in a decent restaurant. If you can give quality meals at the same or even a little less cheaper or little higher rate, it might not be a bad start. But remember you have to take cognizance of where you are, is it a town, a city or a rural area.
Those are major factors. Others are good customer service and cleanliness of the environment.
Putting these factors into focus, you're sure to do great and achieve success.
In any business, an interesting concept becomes an added value in the business. No exception in the culinary business. It is precisely in the culinary business that an interesting concept is the main attraction for consumers.
Therefore, before you decide to open a culinary business, you should think about the concept as interesting as possible and try the original concept that is different from most businesses. The concept that makes someone curious and wonder what products are sold, what is unique about the product and what services are offered. Thus you will easily capture consumers.
Maybe it's no stranger to the concept of a culinary business with a "weird" name or an unusual decoration concept. But this is proven to make consumers curious and force consumers to try it. Our society now wants to try something new, they are tired of mediocre culinary. Because having a delicious taste of food is not enough to make loyal customers.
Make consumers memorable with food or service and interesting places so that they will make your dining place a list of locations that they have to visit each month.
2. Determine the Target Market
After you have an interesting concept, the next step is to determine the target market. Indeed the target market in the culinary world is very broad, but if specified more specifically then you will easily determine the next destination. For example if you open a culinary business in a campus area, then your target market is a student. So you can open a restaurant at an affordable price and have facilities that support students to linger at your place.
Determining the target market is important so that you can determine where your business is going and what innovations you must do and what developments are currently popular among your target market.
3. Innovate well
As we have explained above, the fact that our society is currently at a saturation point. So the thing you have to do to be able to compete is to innovate. Do not do or open a business that is exactly the same as someone else's business, maybe if you want to imitate, it's better to take the concept of ATM (Observe, Emulate, Modify).
But if you want to get the "wow" impression, you should innovate and spawn new products that make consumers curious. If you can't innovate and just follow the existing path. Then it will be ensured your business will experience a slowdown, it may be paralyzed in certain periods. To prevent this, start making crazy ideas that make consumers feel a different impression after trying your products and services.
There are many factors that contributes to the success of a business, from how and where the establishment is located to one's managerial skills. But the three main factors that one should really consider before starting a business like a restaurant are:
There is a reason why the Law of Supply and Demand is taught in business courses. Simply because it works. Before starting out a restaurant business, you must first see to it that whatever you are trying to sell is in-demand or will be in-demand in that area. You must first know your target audience..
As an example: Before you start building a Japanese Restaurant in an urban area, you must first conduct a small research about the people living in that area. Do the people living there like eating raw foods such as sushi? How many of those people have the ability to buy and eat in a restaurant? If the result of your research is positive, then conduct again another research on how well can you acquire the materials/foods needed for the business. If you can't cater to the demand, chances are your business will suffer.
It is not surprising that one factor that contributes to the success of any businesses is the quality of the product or services being sold. In a Restaurant business, this is usually determined based on the quality of the food, how delicious the food you are trying to sell is.
However, it is not always about the quality. As per the example above, people living in an urban area might not be able to afford some of the menus in the restaurant. No matter how delicious your food is, it's all moot if no one will buy it. Thus Quality along with Affordability is the key in here.
I have been to so many restaurants before and one thing that made me not visit again some of them is how they treat there customers. The success of a restaurant business does not stop on the quality of the food but will continue on to the people selling the food, the Services of the restaurant. A restaurant with a friendly atmosphere usually ends up with lots of loyal customers going back to their establishment.
3 This priority factor will be the foundation of your restaurant's success. With original concepts, business plans and locations, you can then switch to developing more creative aspects of your business, including finding the right talent, developing menus and designing customer experiences.
1. Originality (Authenticity)
One of the best ways to make a breakthrough in the culinary business is to offer a new experience. Regardless of where you live, consumers will always be moved by new ideas. In addition, there is always the potential to utilize untapped markets (some out of the box ideas are needed)
2. Business plan
A solid business plan is as important as the success of a restaurant, but often there are still many businesspeople who rush to ignore the business planning process. A business plan will help you, your partners and your investors map goals towards success and also plan for the worst possible things in anticipation.
Your business plan must include a general overview of the market, competitive analysis, target audience insights and realistic budget projections.
3. Main location
Poor locations will make or break the success of your restaurant. Opening in an area without much traffic or road access will make potential visitors uninterested. On the other hand, renting a place on a block filled with loved places will also make it difficult to attract new customers.
Finding the best location depends on your city and varies from urban areas to suburban areas. In addition, rental requirements and building permits will also affect the choice of your final location, and because the process can take months to complete, you should immediately begin the process of selecting the location as early as possible.
1. Service Process
Customer satisfaction is the main thing in the culinary field. Family satisfaction can be created through various factors, namely, the ideals of food and the process given.
The service process itself will study the menus available in a restaurant, adjust them and presents knowledge about menus that can be ordered according to the menu to be ordered. Besides that, when serving the food menu, it is friendly and polite. it will be very easy for you to create an image for the company you are managing. As business people we have to understand who our customers can meet their needs well, for example the environment where we are close to the campus or shopping center, so the menu and prices available will adjust to environmental needs.
2. Maintain cleanliness and comfort of restaurants
The cleanliness and comfort of a restaurant is very important for restaurant visitors because of the clean place comfortable being one part before they decide to eat. Cleanliness and comfort in the restaurant including seating arrangement, table, toilet and kitchen cleanliness. It is not a thing that there may not be one or two visitors who are not removed from the kitchen.
3. provide menus and prices according to location
As mentioned above, provide interesting food and beverage menus, which do not exist elsewhere, new discoveries to attract customers. For example In the form of presentation, in cooking dishes are also important in the presentation of each menu provided in the restaurant. and the mainstay's mainstay menu in the restaurant as a customer puller of course. In addition to the things mentioned are looking at market conditions or the restaurant environment, we are not mistaken, at least the menu and prices available with our business location.
Suppose the restaurant is close to school or campus.
Before citing a restaurant, there are certain factors that one needs to bear in mind. Some of these are:
1. Location. The location where a restaurant is Sited to a great degree determines the quality of the people that will patronize you. Is it in a city, a busy location, a small town, etc. If it Is located in the heart of the city, you can tell that you will have class come eat at your restaurant.
When choosing a location, put parking space into consideration. I mean, no matter how good you cook, if there's no good place for your clients to park their vehicles and drive out with ease, I'm sure they will drive past your restaurant. I've visited a friend very often in the city of Abuja and this was a major challenge to him. He'll tell me, I would have loved us to eat at that restaurant but there's no place for me to park my vehicle.
2. Another factor to be considered is the quality of meals. If success is a goal, quality should not be compromised. How well you do what you do is what will make you stand out. I've been to some restaurants here in Akwanga, Nasarawa state. I'm sorry to say, some of the meals are apologies, a waste of time and money. If not for the situation that warranted it, I would have preferred to cook my own meals than eat out.
Give people quality and tasty meals, I bet you've just won a permanent residence in their hearts. When this is in place, I bet they would want to come back in fact with their friends no matter how expensive the meal may be.
3. Cost of meals. This really is important too for you to achieve long term success. Is it affordable? I mean, nobody wants to spend a fortune before eating a decent meal. Go out there and do a market survey of the average cost of a good meal in a decent restaurant. If you can give quality meals at the same or even a little less cheaper or little higher rate, it might not be a bad start. But remember you have to take cognizance of where you are, is it a town, a city or a rural area.
Those are major factors. Others are good customer service and cleanliness of the environment.
Putting these factors into focus, you're sure to do great and achieve success.
1. Having an interesting concept
In any business, an interesting concept becomes an added value in the business. No exception in the culinary business. It is precisely in the culinary business that an interesting concept is the main attraction for consumers.
Therefore, before you decide to open a culinary business, you should think about the concept as interesting as possible and try the original concept that is different from most businesses. The concept that makes someone curious and wonder what products are sold, what is unique about the product and what services are offered. Thus you will easily capture consumers.
Maybe it's no stranger to the concept of a culinary business with a "weird" name or an unusual decoration concept. But this is proven to make consumers curious and force consumers to try it. Our society now wants to try something new, they are tired of mediocre culinary. Because having a delicious taste of food is not enough to make loyal customers.
Make consumers memorable with food or service and interesting places so that they will make your dining place a list of locations that they have to visit each month.
2. Determine the Target Market
After you have an interesting concept, the next step is to determine the target market. Indeed the target market in the culinary world is very broad, but if specified more specifically then you will easily determine the next destination. For example if you open a culinary business in a campus area, then your target market is a student. So you can open a restaurant at an affordable price and have facilities that support students to linger at your place.
Determining the target market is important so that you can determine where your business is going and what innovations you must do and what developments are currently popular among your target market.
3. Innovate well
As we have explained above, the fact that our society is currently at a saturation point. So the thing you have to do to be able to compete is to innovate. Do not do or open a business that is exactly the same as someone else's business, maybe if you want to imitate, it's better to take the concept of ATM (Observe, Emulate, Modify).
But if you want to get the "wow" impression, you should innovate and spawn new products that make consumers curious. If you can't innovate and just follow the existing path. Then it will be ensured your business will experience a slowdown, it may be paralyzed in certain periods. To prevent this, start making crazy ideas that make consumers feel a different impression after trying your products and services.