The Indian gourmet food market is currently valued at US$ 1.3 billion and is growing at a Compound Annual Growth Rate (CAGR) of 20 per cent.
Food industry has just seen the sun rise and there is a long way to go. To run a successful restaurant is as hard as turning a ‘House into a Home,’ which demands nurturing the bond with love, be it with customers or staff or with the business. All play a vital role in shaping the brand of fine dine restaurant.
And like it is said, ‘Rome was not built in a day’, similarly to build a fine dine restaurant and running it successfully, in this cut throat competition is not a joke.
The food industry, which is currently valued at US$ 39.71 billion, is expected to grow at a Compounded Annual Growth Rate (CAGR) of 11 per cent to US$ 65.4 billion by 2018. Food and grocery account for around 31 per cent of India’s consumption basket.
The Indian food retail market is expected to reach Rs 61 lakh crore (US$ 915 billion) by 2020.
The Indian gourmet food market is currently valued at US$ 1.3 billion and is growing at a Compound Annual Growth Rate (CAGR) of 20 per cent. India's organic food market is expected to increase by three times by 2020.
According to the data provided by the Department of Industrial Policies and Promotion (DIPP), the food processing sector in India has received around US$ 7.47 billion worth of Foreign Direct Investment (FDI) during the period April 2000-December 2016.
Here are a few tips to run a successful fine dine restaurant:
1. Maintaining Consistency:
Maintaining success is not everyone’s cup of tea. To maintain the stature and brand in top position a lot of hard work is poured in it.
People come to fine dine restaurants to take a break from routine life and pamper their senses. Whereas food satisfies one sense, that is taste. Hence why not please their three senses, (that are sight, smell, taste), when you can.
Once they feel good about the restaurant, they are going to come again and again. It is not an one time affair. Thus it is important to maintain consistency.
2. Operational Philosophy:
Any restaurant is known for food ingredients, being served to the customers. But to be a successful one, one has to identify its operational philosophy.
The operational philosophy involves focusing on vital areas, such as food ingredients, cleanliness, exceptional service, strong connection with the style of cooking.
It is like tying the vital knots tightly to keep the hold of the base stronger. Running a successful fine dine restaurant too demands to be wisely taken care of.
3. Identify the Key Players:
Even though it is your business, there are other people also involved in your business equally as you.
The supplier, investor, chef and accountant play the key role in your business but never underestimate the role being played by the waiters, waitresses, cleaning staff, valet boy and the security guards.
Keep the staff happy and they will keep the customers happy. They are the ones, who are going to deal with the customers directly on every day basis. It is a mutual thing, you see.
To run a successful restaurant, it demands dedication and honest effort in not just towards the business but also the growth of relationship with the people associated with your business.
Sit with them once in a month, ask them for feedback or suggestions, implement their suggestion, and reward them, all this will help in developing the relationship with them. If required send them for trainings, give them bonus, praise their work and sponsor their outings once in a while, this will bring positivity in the atmosphere.
Taking care of these few steps will make a huge difference in your business, from the very moment, you implement them.