Small business ideas in Restaurant industry
According to an analysis by apex industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM), the quick service restaurants (QSR) sector in India is currently growing at a compounded annual growth rate (CAGR) of 25%, and is likely to touch the Rs 25,000-crore mark by 2020 from the current level of Rs 8,500.
By 2020 it is expected that 35% of India's population will be in urban areas by 2020 totaling to 52 crores compared to the current urban population of 34 crores.
Thus the business unfolds endless opportunities for the budding restaurateurs and entrepreneurs, who want to make their mark in the restaurant industry.
Here are a few business ideas, which can be explored in restaurant industry:
According to a report by Technopak Advisors, a consultancy firm, the per organised café market in India, which grew almost six fold in the last five years to $230 million currently, is likely to hit $410 million by 2017, maintaining a compounded annual growth rate of 13-14 per cent.
This makes cafés as one of the most sought after business ideas as well as making business in the country.
This is new culture adapted from the west, which is finding its way into the mainland India. India has witnessed small scale hawkers and food push carts, in which hygiene and safety of food is the matter of question.
Introduction of food trucks in India will provide variety as well hygiene out of mind, while savoring the lip smacking food items. Plus the benefit of food truck is that it is not stagnant, thus getting customers is easy.
The number of cookery reality shows has encouraged half the population of the country to be a cook and try different cuisine fusions and be a master chef.
One can grab the opportunity and open a cooking class for women in society or for children, who aspire to be chefs in future.
Spread your knowledge and earn money as well as praises, with low investments.
Bakery products have become the important meal of the day. The varieties of breads available and celebrations for occasions have made this business reach heights.
One can open a bakery with low investment and the demand is always high, which makes this business small yet profitable.
If one is an expert in cake baking, then theme based cakes are so in and the market will work in their favor.
This service is popular in food business as people approach for every small and big occasion and gets together.
Other than this people hopping from city to city for their demanding jobs, crave for home made food, where catering services come into play, especially the ones, who supply in hostels or P.G.s or the office canteens.
If one ties up with offices and event planners, I am sure this small investment business will take gigantic shape in future.
Opportunities never knock twice, so open the door when it is still knocking. Grab the opportunity and be a part of restaurant business.