Restaurant business is one of many prospective businesses. Many restaurant entrepreneurs have success stories about this business, and many also failed to run this business. I don’t agree if some people said that the success of restaurant business because of luckiness. There are factors that make this business successful. As I have experienced that working in the restaurant is hard. But it is different if we are the investor, in other word we have big capital.

Then, I would like to share opinion about matters before establishing a restaurant.
If you have small capital and you have time to manage your business, it’s better, you start
to work around all position in the restaurant. It means that you get training for yourself. You can apply to work in the small restaurant. You can take 2 till 6 months. Learn about the menu, cooking method, table service as waiter, glassware, dinnerware, dishwashing, billing system and promotion or marketing method applied in that restaurant.

After that, before investing your capital, start to use 4 P analysis: Place, Product, Price, and Promotion.

1. Choosing the place is the most important point to run the restaurant. You can make interview to some people around the place where you plan to open the restaurant, then observe the cafés or restaurants or any food sellers around the place if they are running well or not, profitable or not. You can observe also about habit of the people around the place if they like dinning out or not.

2. Product is the second essential point in running this business. In choosing product, you
can analyze about what menus the people around the place usually buy. Trying to visit some cafés or restaurants and enjoy the food or beverages, then make a chat with consumers who visit the cafés or restaurants. After that, prepare the list of menus.

3. The third point is analyzing prices of your menus. Pricing technique is tactic to win the competition. You can learn about it deeply by purchasing book in Amazon online book store. But, basically, for determining prices, you can consider about material costs, labor costs, overhead cost like electric and telephone cost, promotion costs. After take profit, you can take profit between 30 % to 40% from selling cost.
4. Promotion. Giving discount is one of many tactics to sell. You can make leaflet or brochure to promote to many people, you can start from your neighbor, family friends, and family fellow workers, and also you can promote on the internet, business forums, etc.. If you have special menu in your town and you are sure that the menu is very rare and delicious (but you must discuss with your staffs or fellow workers deeply), you can promote massively.

I am sure that still there are many tips, ideas, tactics and strategies in running this business, so, I hope comments or opinions from readers. Thanks for reading.

Technorati Tags: restaurant, restaurant business, prospective business

Recent Entries

• Acer Notebook Launched Aspire One, The Smart Mini Notebook
• How To Find the Right People To the Right Job?
• Most Richest Bachelors
• 7 Ways To Increase Efficiency
• 3 Good Things to Better Business or Life
• What Is Business Ethic?
• Financial Leverage
• The Essential of Management of Change
• Opinion: What is the new business trend this year?
• Single Product Menu is Frequently Better than Multi choice Menu In Food Business

This entry was posted on Wednesday, November 28th, 2007 at 2:57 am and is filed under Business, Investment, Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.