We all know that running a restaurant business is not everyone’s cup of tea.
To build a lasting business of that nature is probably every entrepreneurs dream. But 90 % of the businesses fail in its initial years of operations. And, to build that business which has the longetivity and can survive for a longer period, every restaurant of that category has their own secret ingredient, formulas to sustain in the fast growing market. Here are few pointers you should always remember while running a successful restaurant.
Change with Consumer: With globalisation on the menu, consumers have change dramatically not only in India but across. Dining out today is no more a special occasion; it has become a social habit wherein people want to enjoy every bit of their time. It is no more restricted to a group gathering or a lunch or a dinner date. In fact people are finding comfort in eating at a restaurant during office hours and also prefer restaurant and cafes as their co-working space. We go out and eat when we want to.
Scalable, Multi-use formats: These days restaurants are not just for eating but are also for conducting meetings, socialising, for a date and to enjoy time with family and friends. Hence, restaurants and concepts that are scalable and can be used for multi purposes are a big hit in the market. Hence, scalable formats have the ability to change according to the time of the day and the season. This way your restaurants will remain fresh in the long run attracting more and more customers.
Old is the New Fresh: There is so much experimentation in the restaurant sector today when it comes to playing with food and menu. But there is no denying that back to basic is a big hit. Top restaurateurs and chefs are focusing on menu and ingredients that was used in the ancient times and has certain useful effect on the human body. Amaranth, turmeric, sattu are some of the ingredients that are being widely used by top global restaurants. In fact coffee major Starbucks came up with turmeric latte after knowing its true value. Thus, we can say that what works and will always work is a clear back to basics approach - understand your food, your approach and your consumer and build it around them with great service and hospitality and it will always work.
Tech-Play: Technology can be a powerful tool to not just create a more efficient system but also an effective way of connecting and building deep knowledge of your customers- for example: a. Cloud based POS systems that harness AI / learning systems to effectively understand what consumers are ordering and therefore get a deeper understanding of your business. Social b. Wifi systems enable you to get rich consumer data that can be used to create marketing systems that are completely non traditional - for example building localised area based offers for specific consumer groups c. Smart loyalty systems that are non obstrusive and can create a umbrella of inventives and value beyond just the dine in location.
Delivery is the new go: This is an area of enormous opportunity for all f&b formats - regardless of the scale. It allows for the business to reach their consumers homes. Too often a great dish falls flat on its face - literally - when it reaches our homes. The solution - design food around the delivery experience as well. It is here to stay and by ignoring it - you are doing it at your peril. Smarter packaging solutions to specialised delivery menu there are several simple ways in which your business can offer a great experience for your consumers at their home.