RESTAURANT BUSINESS
People see good potential in the restaurant industry and interested to check new restaurant business ideas; that’s why many entrepreneurs are entering the restaurant industry. This trend has led to fierce competition, so you will have to strive to be the best. Many startups businesses fail in their first year due to negligence and not making the right decision on time. The food market is crowded, and you need to pave your way. It is not easy to jump into the restaurant business, there are so many things you need to consider before start. Don’t worry, we can help you with that!
Let’s start with some important points that you need to consider:
How do you choose a restaurant concept?
A restaurant concept is a theme that defines the restaurant. Well, choosing the restaurant concept is completely up to you. The concept depends on your budget. Furthermore, the concept includes your restaurant’s menu design, service style, dining room, the style of food, decor, and interior.
Here in this blog, we have highlighted 17 restaurant business ideas that can help you to establish your restaurant business. These business ventures require less investment, minimum risk, and grantees high profits.
Conventional Food and Restaurant business ideas that work for start-ups:
1. Quick Service Restaurant
You can initially start with Fast food restaurants. QSR’s are known for their fast deliveries. Here food is semi-prepared beforehand or prepared in a short amount of time. Food is collected by the customer as Quick service restaurants are self-service restaurants.
They provide services like eating at the outlet or take-home. For opening a QSR, you require a minimum investment, which includes a place for rent, kitchen equipment, and less staff. You also require three licenses, shop establishment license, police eating out license and municipal authority permission to operate your business.
Location plays a major role in QSR. You must set your QSR business in any densely populated area such as near hospitals, big office complexes, airports or university areas. Also, set aside some budget for promotion.
If you want to make your restaurant business a brand, then QSR is the right business for you. You will usually require a minimum of 2 years to build your brand. There are many successful QSR chains like McDonald’s, KFC, Subway, Dominos and more.
2. Ghost Kitchen
Ghost kitchens are the restaurants that operate on delivery alone. They don’t provide any dining space. The food is prepared in the kitchen and then delivered to the customer’s address. This venture requires less investment and is good for targeting more customers.
If you are new in the restaurant industry and want to try this restaurant business idea, then investing in the Ghost kitchen can be the high-profit food business for you. The initial investment is almost negligible as you can use your home kitchen to prepare the food. This will let you save on monthly rentals. All you need to pace up your online as well as offline marketing game, and soon you will see the influx of orders.
3. Casual Dining Restaurant
It is one of the high-profit food business ideas in the restaurant industry. The investments are not much, instead, they have good potential to reach high revenue within 18 months. The Profit Margin of casual dining restaurants is around 20-25%.
You don’t require a posh area to start your casual dining restaurant, instead, you can start with malls, shopping streets. The areas should be not less than 2000 sq ft and make sure that there is a parking space.
You require licenses like Fire Safety Certificate, Shop Establishment, Police Eating House, Local Municipal authority permission with seating capacity, FSSAI Licenses, Liquor license, and GST Registration. Also, you require at least 15 employees. A casual dining restaurant provides a casual environment along with the popular menu and bar menu.
4. Fine Dining Restaurant
If you want to target a very selective audience, then fine dining will be the best option for you. You need to have an impeccable setup, great ambiance, best seating, and table service. Also, you need to provide a top-notch experience to your customers. To make your restaurant’s fine dining successful, you need to serve your elite guests with great food, service and implement a good marketing strategy.
5. Cafes
These days cafes are quite popular with people. A cafe is a perfect place for having a cup of coffee or beverages. With cafes, you can cater to corporates, college-goers, and locals. All you need is a nice place, basic kitchen equipment, good decor, and quality staff. Moreover, you can explore different cafes options like rooftop cafes and outdoor seating.
6. Food trucks
All you need to run this low investment food business is a truck. You can buy a second-hand truck and easily convert it into a Food Truck. Apart from this, you will require 3-4 employees and some licenses like Fire Safety Certificate, Shop Establishment License, NOC from RTO, NOC from Municipal Corporation, FSSAI Mobile Vendor’s License and Kitchen Insurance. This food business can fetch your high-profit margins.
With this food business, you will be able to target different types of people, plus you will have the liberty to change your location. These days people lookout for quick food that they can relish. You might have seen a long queue in front of food trucks. The estimated profit margin for a food truck is around 50%. However, the profit margins as per the food you serve, season to season and location.