Restaurant Franchise Opportunities

Franchise Jul, 28 2017

​How to Start Your Own Restaurant Business

NRAI IFSR 2016 estimates that the total contribution of the restaurant industry alone will contribute 2.1% to the GDP of India by the year 2021.

By Nibedita Mohanta
Feature Writer

Every foodie, more than once in his/her life, has decided to open a café or restaurant, where he/ she can spread the magic of taste in and around the locality.

People from different areas, regions have different taste, some like spicy, some like sweet and some like a mix of both spicy and sweet, one cannot just compromise with the taste, when one is paying his/her hard earned money in it.

NRAI IFSR 2016 estimates that the total contribution of the restaurant industry alone will contribute 2.1% to the GDP of India by the year 2021.

Riyaaz Amlani, President, NRAI has said, "The total food services market today stands at INR 3, 09, 110 crores and has grown at 7.7 % since our last report in 2013. This is projected to grow to INR 4, 98, 130 crores at a CAGR of 10% by 2021."

Here are a few points to help aspiring restaurateurs and entrepreneurs to start a restaurant business:

1. Decide what to offer:

Food is one thing, which holds the power to make people forget all the tensions of work or life. And there are plenty o restaurants, where one can find the authentic local cuisines or regional delicacies.

You have to decide before hand what you are going to offer to the customers, who already have their favourite dishes being served in their favourite restaurant. You ought to have something unique and the best to offer or else the customers would not find any reason to visit your restaurant.

2. Thorough Planning:

A well begun thing is half done, thus if the concept as to what kind of restaurant you want to open, should it be a high-end fine dine restaurant or for casual diner or cuisine specific or microbrewery or pub or simply quick service restaurant.

Moreover the proper planning with estimated future goals, expected profits and expansion plans will be help the banks in developing trust on your business, where the loans and financial aids come into play.

3. Discovering the apt Location:

One can find a number of restaurants in every busy street, which serve from continental to Asian to French to Indian food. Thus look for a location, which does not get lost in the herd of restaurants in that locality.

It should not be far from the herd, neither should it be in the centre, but somewhere near the entrance or ground floor.

4. Look for Investors:

Opening a restaurant is no child’s play; it requires a lot of money. Opening a small QSR will cost around 1.2-1.8 crore, that too only to set it up, excluding the production cost and staff salary payments.

Thus look out for investors, who will fuel your dreams to take the first leap. There are plenty of investors and banks ready to help you, provided authentic documents, honest intentions.

5. Licenses and permits:

The required documents, licenses and work permits should be kept ready before opening the restaurant.

Obtaining business licenses is the doorway for any business industry to roll.

Proper legal procedures about taking the lease area and license to serve alcohol in that area and proper ventilation in the kitchen, safety standards in case of emergency should be taken care of even before laying the foundation stone of your business.

6. Hire smart staffs:

Ultimately, restaurants are known for the kind of food they serve, the hospitality and aura of it.

Thus a chef, who is master in his skills, staffs, who are not just educated robots but smart in their work are important for a restaurant to run smoothly.

Accountant, who will take care of the bills, salary of staffs, profits earned, losses bore and every money related matters.

Feeding a hungry soul is the noblest job on this planet. So go ahead to do a noble job and earn profits out of it as well, doesn’t it sound like a perfect plan!

Related: Why do you franchise

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