The start of your own restaurant you need to begin with the
sculpting of a sound concept. The concept you are following for the start of
your own restaurant business must have been proved to be successful in a
somewhat similar form. Following a concept that has already been working, or
doing better, is always less risky than introducing an entirely new concept to
the world of the restaurant business.
The business concept should be capable of generating gross
sales worth 1 to 2 times the original investment. It must produce an operating
“profit margin” of 15%-20%. Thus, the
basic requirement for starting your own restaurant business is the development
of a profitable concept.
Mistakes that must be
avoided by aspiring restaurant owners are:
A. Wanting to
offer too broad a menu: The desire to offer a
broad menu that would appeal to a broad market increase the initial investment
in equipments. It buries the aspiring entrepreneurs, who have limited
experience and are relatively new to the arena of restaurant management, in
myriad complex operations.
B. Not defining a
BRAND: Most aspiring
restaurant owners do not define a specific brand and hence have difficulty in
establishing an identity.
Starting of your own restaurant business requires you to find
the right concept, the right location, the right lease and the right systems.
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