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Graphic Image Credits: Sharon Lopez via Bitlanders
(Edited via Canva)
Background Image Credits: JamesdeMers via Pixabay
Have you ever thought of opening a business? I have some ideas that might be of help. We might be aware that having a business can be a source of great income, however, we need to conduct extensive planning before starting.
If you are a business-minded individual, you might be interested in opening a coffee shop. or restaurant business.
WHY A RESTAURANT BUSINESS?
Image Credits: Neshom via Pixabay
Food is among the basic needs of man. While an individual can live without buying new clothes or shoes for a month, we definitely cannot survive without having food or drinks in the same duration of time. Though dining out can be more expensive than cooking our own meal, still many people would love to spend money on good food.
This can be due to situations that each and every individual is currently experiencing such as being busy at work that they no longer have time to prepare their own foods. Others find it more economical to dine out especially if they are alone. Buying a lot of ingredients can also cumbersome. Moreover, planning of what to prepare for the next meal is not practical.
For people with an entrepreneurial mindset, this is an opportunity for business.
SOME FACTS WORTH CONSIDERING
In the US setting:
Fast-food consumers are more likely to be younger and wealthier. They’re more likely to be male and African-American, and they like lunch more than any other day part.
Source: Restaurant Business
In the Philippine Setting:
Nearly four out of 10 Filipino online consumers eat in restaurants, fast-food outlets and other dining options outside of their homes on a weekly basis, according to a study by market analyst Nielsen.
Source: Entrepreneur.com
Given that you have the skill and capital, here are the things we need to take into consideration when planning to start a food business such as a restaurant or coffee shop.
OPPORTUNITIES
Along with the fast-paced life we have, we usually settle for convenient things. One of that is by dining out instead of cooking our own food. But that is not only the reason why people prefer to eat outside. Here are additional reasons that we need to know if we are serious in succeeding in this business.
1. People want to try something new every time.
Image Credits: RawPixel via Pixabay
One of my observations in our country, people would go crazy when a foreign restaurant opens in our place. We want to experience how a Japanese, Chinese, American, Indian, and Korean foods taste. Open communication and new technology can influence others. We are given the opportunity to know what is happening in other parts of the world.
People would love to go to a place to experience new surroundings. When other races open a food business in our country, we are excited to try what they offer.
Most individuals, regardless of race easily get bored of eating the same food or going to the same place over and over. We want to try something new... to taste new foods.
2. People want to be the first to experience new things.
Not only that we want to experience new things, but most of us want to be the first to experience among our friends, colleagues, and classmates. There are many people who cannot accept it when others discover new things ahead of them.
CHALLENGES
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With different food businesses opening in every corner of the city, what is your chance of being noticed?
Surviving in the competitive world of business is one of the challenges that businessmen experience. Those who can come up with good strategies will have a bigger chance of succeeding. While those who can't are more likely to fail.
IDEAS
Here is a great idea you should not delay trying - Infusion of Artificial Intelligence in your restaurant or coffee shop business! CLICK HERE for a full view interaction.
Image Credits: Sharon Lopez via Querlo c-Blog
But how can we infuse Artificial Intelligence in Food Business? The Querlo Chat below will uncover great ideas that will help you gain success in this field of business. Interact with me in this Querlo Chat:
Image Credits: Background for c-blog 1 Neshom via Pixabay
DISCLAIMER: The views and opinions expressed in this blog post are that of the author and does not in any way represent the agency or department she currently belongs.
ADDITIONAL NOTE: The sites mentioned in this post are for information purposes only and links are provided for easy access. The author does not receive any remuneration from the said companies or sites.
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Written for Bitlanders
by ♥Sharon Lopez
Date: May 12, 2019
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