It is not an exaggeration that restaurant business is one of the most lucrative in Ghana today.
Even when other commodities experience poor sales, restaurant business thrives.
The success that restaurant business has met with can be attributed to the fact that eating is a necessity. As a matter of fact, it is the number one need of man.
Another factor that has contributed to the success of restaurant business is the busy life style that an average Ghanaian leads.
Most people are so busy that home cooking is considered a waste of time.
The opportunities that abound in this industry might pique your interest in investing in restaurant business.
This article is intended to teach you how to start and make money from this business.
Running a restaurant is quite a tedious task.
In fact, it is one of
the most stressful businesses to run. Starting a restaurant
business is one thing, running and making it successful is
entirely a different ball game.
Despite the challenges
associated with owning a restaurant, many individuals have
found successes in this sector of the economy.
How did they do
it? How do you serve the best meals; provide excellent
services and keep your customers loyal?
Below are the tips
that will guide you in starting and running your own restaurant.
If you are unsure about how much money you will need upfront,
discussing with other restaurateurs can be of help to you.
There are numerous ways you can raise capital for your
business, they do it through taking advantage of government
programs or liquidating assets using them as collateral for a
loan; or encouraging a family or friend to become a partner.
Do a Feasibility Study
In business, knowledge is power and the application of
knowledge is an advantage. To succeed in your restaurant
business, you need to know everything about it.
environment, know what their favourite or most consumed dish
is. Your locality goes a long way in determining the kind of
dishes you prepare more. So mingle with people and
visit existing restaurants.
Write a Business Plan
When starting this business, you need to do a survey. This will
help you to acquaint yourself with the challenges that may lie
ahead and get the real opinion of people from a scientific point
You need to write a proposal on the things you will
need to start the business.
When starting a restaurant you will
need equipment and tools like furniture, power generator, air-
conditioners, and kitchen utensils like spoons, plates, pots, gas
Things To Consider Before Starting A Restaurant
Cost of Wares.
Costs of Equipment.
Costs of Food Stuff/ Ingredient
Look For A Good Location
The importance of location to your business cannot be over
emphasized. It is vital in the restaurant world.
It is important
to find a location that has a continuous stream of traffic,
convenient parking, and is in close proximity to other
businesses (especially if you’re catering to the lunch crowd).
Don’t forget to revisit your business plan to make sure you are
close to your target customers and market.
It may not be the
best idea to open it in the vicinity of garbage dump. A
restaurant should be in a very neat environment.
make sure your monthly rent is in-line with your business
plan’s projected profit so that you do not run at a loss
Employ Experienced Hands
The next challenge most businesses face is retaining skilled
and experienced staff.
There is nothing wrong in consulting a
chef who has gathered the experience needed to run your
business for you. Don’t be miserly about paying the best hand.
If you are successful in getting such an experienced person,
endeavour to keep him or her loyal to you.
As a restaurant
owner, you are expected to offer certain benefits to your staffs
to keep them loyal to your organization.
benefits like vacation pay, clinic allowance, health insurance,
Employees in the quick service restaurant business are
often young and mostly inexperienced. When you hire a new
employee, not only does the employee need to learn all about
the restaurant skills, but also needs to adapt to a restaurant
work environment in general.
Therefore, it is your duty to give
sufficient time, energy and orientation to the employee. This
costs money, time, effort, but you will definitely reap the
Maintaining Good Customer Service
A need for food brings customers into your restaurant but good
food and excellent customer service keeps them coming back
at all times.
How you handle customers complaints and how
you appreciate your customers matters a lot.
If you want to
build a good communication with you and your customers in
your restaurant, you must create a very good customer service
and be prepared to handle bad or rude customers effectively.
Customers are known to be the king of any business, keeping
our customers can be very tasking, but it is a rewarding idea.
There is no doubt that restaurant business is a lucrative and
profitable in Nigeria. You need to get it right by making a
complete business plan. You need to apply good management
skills and follow the acceptable standard.
Soon you will be
smiling to the bank as you count your profit.