The food and restaurant industry is growing very rapidly and is expected to increase more with the upcoming time.
Quick service restaurants (QSR) are expanding at a rate never seen previously and are expected to go on with more success rate. According to a recent survey, the restaurant industry is expected to grow at a CAGR of 10% by 2022.
QSR is in high demand because of their fast and variant service provided to the customers. What really attracts the customers towards this industry is that QSR instantly stands upon their expectations satisfying their hunger with their instant food products. This is one of the prime factors because of which customers are likely to prefer QSR over other dining options.
The presence of brands like McDonalds, Pizza Hut, KFC etc are showing that there are immense opportunities for QSR in our Indian market. Being low in price and quick in service, this segment of the industry is providing foodies with great quality food in quick time-saving time and money both at the same time. “QSR is a great success as they offer food that has been pre-made. It only requires the last minute preparation before presenting it before the customer,” says Rakshita Srivastava of The Saffron Boutique.
But the things are not as easy as it looks when establishing a quick service restaurant. With an increased demand in this chain followed by food quality, rise in prices of the ingredients, competitions from the local as well as international market, things are not the same anymore. With these challenges, running a QSR is now one of the demanding jobs recently in the market.
“Almost 50% of the chains which have opened in the last year are now closed or are facing extreme crisis condition from the market. Keeping few basic things in mind, one can attain success in this particular field,” says Nitish Bansal, owner of 736 AD.
Maintaining the quality
With the industry experimenting with their products a lot these days, somewhere or the other, their main concern has shifted from the quality of the food towards other things like ambiance, service etc. But the owners should not forget that what can sustain them in the market is the quality of food they provide. At the end what matters to the customers is the food they get. If it’s filling their bellies, then you have a great chance in sustaining at the market. In short, everything can come and go, but what will eventually bring customers to your venture is the food you provide.
Choosing the location
Having the right location for your outlet plays an important role in creating the impact in the market. It is very essential to have your outlet at a location which is heavily populated. It increases the chance for your venture to establish in an early time with achieving great footfalls.
Setting up the interior
Along with the quality of your food, the interior of your venture also matters a lot. The place should be designed keeping the customers in mind. People usually prefer to dine out in a place which can provide them with calm and relaxing ambiance while they are eating. Proper kitchen and dining area should be designed so that the place doesn’t looks clumsy. Using the space provided is something which is always a key thing while running a venture. Proper use will eventually make your place look wonderful, inviting people to come and enjoy your food.
One of the important things in this business are the employees who are looking after your company. While food being an important factor for grabbing customer’s, employees behavior too play an important role in maintaining the sales and value of your brand. Training of your employees is a necessity as they will be your manpower in the upcoming time. A customer usually leaves with a great experience and smile if they are treated well while getting served.
Expansion of your QSR
Once your venture has gained success, the next thing which should be in your mind is the expansion of your brand. More number of outlets will eventually help you grab the market followed by your brand awareness which will create customers for you. A good demographic research is required before expanding your venture. With a vast kind of people living in different kind of places, you can play with your menu which can create interest and desire in them. Hence the location and the native population should be a prime element while expanding your brand.
With busy lifestyle, people are now looking for a quick option which can remove their hunger with quality food. The price and the timing is also something which grabs their attention saving money and time both at the same time. Hence QSR provides you with a great opportunity to enter into the business. Considering the above-mentioned points, one can surely find path towards the success of your brand fulfilling the need of their customers.
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