There is a lot of surge in the food biz these days. The restaurants are opening in the lightning speed and unfortunately closing at lightning speed as well.
This maybe because of various reasons like bad location, bad service, not good taste of the food or not proper research and marketing. All these reasons are caused due to one major lag i.e. their concept wasn’t tight enough.
Is there any formula for success? Well, not really. Nothing is ideal and so is the case with the success of the restaurant. One thing you can do for sure is to keep your concept tight, lock it down.
Here are some tips which you may want to take into consideration while thinking of the concept of your restaurant.
DESCRIBE THE TYPE OF FOOD WHICH WILL BE SERVED
Choose a theme which is broad enough for you to innovate and narrow enough for the customers to relate. For example, ‘Indian Food’ is too broad and ‘My grandmother’s recipe’ is too narrow whereas ‘South Indian Food’ is apt when you define the type of food which will be prepared and served in your restaurant.
DESCRIBE THE DECOR OF THE RESTAURANT
Theme oriented restaurants are the ones where the concept of a restaurant is given topmost preference. Food, service, and location are not to be ignored, but the concept is what is designed to entice the customers the most. For example, if the theme is ‘Street Food’ then the decor is inspired by vintage produce signs, whereas if the theme is ‘Fine Dinning’ then the decor is inspired by fine and attractive plates and spoons and so on. As restaurants aspire towards long-term branding, absorbing a theme has become mundane to engage the audience .
IDENTIFY THE TARGET MARKET
Before designing the menu, you need to know who your target audience is and should make a vital business plan accordingly. This recipe for success should outline the plans, strategies and goals in detail. It should include the detailed information about the concept i.e. Indian, Continental, etc. Once you know your target audience you’ll get to know if the proposed menu and pricing is apt or not.
MAKE A BUSINESS PLAN
You need to make sure that the money which you are spending to make money is used wisely and in a positive and correct direction. There are multiple times when the restaurants face the issue of poor money management. Making a business plan will help you in finding out where they are overspending the money and help in managing the same. In this way it will help in earning the revenue and making profit. Some of the common problems which lead to poor money management are too many staff, having too many people working at a time, not keeping detailed account balance and spending too much money on food. Thus, a proper business plan will help in solving the above mentioned problems and will help in raising the profits.
We at Estandardz create feasting ideas suited for the market, which are pertinent and tuned in to the current and future F&B patterns. We will work close with your team to create and formulate the concept. For more information you can contact us on www.estandardz.com.