Posted by Restaurant Secrets Inc Fact: But, why do restaurants fail?
Posted by Restaurant Secrets Inc Fact: But, why do restaurants fail? Yes, the restaurant business is competitive.
But that is not the main reason why restaurants close their doors. The main reason a restaurant fails is because inexperienced owners and investors make many avoidable mistakes in this business. If we ask ourselves, why are franchises so much more successful than independent restaurants?
Why would it logically be easier to manage multiple units and more difficult to keep a single unit afloat? You are going to need much more than great food to make money and be successful in the food business. Combine this with great food, the right location and your passion and you could be onto the secret formula of success!
The good news is that you can do this on your own. You merely need the right approach, which includes comprehensive and objective market research and analysis and proper planning … just like the chains do.
Consider the 10 most common reasons why independent restaurants fail in Dubai. Avoid the common pitfalls — learn how to open a restaurant and coffee shop in Dubai — successfully. If its anymore than that, you are working just to pay rent!
Poorly negotiated restaurant lease agreement — Do take time to read through and understand in details the tenancy contracts you are about to sign! Do not be afraid to ask and understand, your tenancy terms should be supportive to your new venture, you will need that support throughout the tenancy period, so start right!
The above three reasons are on top of the list. While these are guaranteed steps towards restaurant closure, consider the other most common mistakes many venturing into the food business unknowingly make: This is my favorite: Daily tasks are formalized into procedures, so no matter how many times a chef leaves, the kitchen continues running smoothly!
Procedures mean that each person working in the organization dishes out products including service at the same rate and efficiency each and every time.
It also means that if your company is managed with systems and procedures, you can actually take a day or week off without worrying if you will still have a business when you come back! It means your restaurant is running smoothly on systems and not human errors.
Poor choice of concept and menu — Do not sell ice to an Eskimo! A too large menu with everything to please the palate may seem very attractive but do not promise more than can be delivered. Specialize in what your concept caters to and present those products in the right size, packaging and price.
Take a specialist approach to your restaurant menu engineering and kitchen equipments that compliment and support your menu. Synergize beauty with functionality!
What the consumer surveys show repeatedly is that they will keep on coming back to their favorite place loyally for a combination of good food, good service and good ambience.
Invest into your product and service and support it with a cozy and welcoming ambience. Too many restaurant owners get so carried away with designing the dining room, they use up much needed capital which should have been invested into the production area. Undercapitalization and lack of working capital — Make sure you have sufficient funds and working capital incorporated as contingency funds in your restaurant start up and business plans.
You do not want to start borrowing money while in the start-up stages which are so crucial for a new business. Believing you'll start making money on opening day — Like any business, a new Restaurant has a time-frame before it starts generating profits.
After 6 months of opening is when a well planned food business actually starts moving towards profitability. This is a conservative study for single unit outlets, profitability and revenue is faster, some units even posting profits in the first month of opening in established multi-units expansion, where consumer is aware of the brand and flocks to outlet on opening day.
Absence of a well organized and implemented restaurant accounting system — An excellent yet simple system that addresses the core activities of the food business should incorporate purchasing systems, which lead to receiving systems, production, waste, man-hours, fixed costs, variable costs and prime costs of the food outlet.
A well organized and well implemented accounting system can be extremely simple yet functional.The "I Want To Open A Restaurant In Dubai" Dream!
Posted by Gaby Mather, MD & Co-Founder of Restaurant Secrets Inc It's incredible how, when asked, even people who may not dream of risking a venture into business, might invariably harbor this desire, “. West Bay A11, Dubai Marina, Dubai. Driving Directions Google Maps.
If you are driving to the boat, use ‘Masjid Al Rahim’ (click for map) Mosque in Dubai Marina as a reference. Another nearby landmark is ‘Lotus Hotel & Spa’ in Dubai Marina.
Location is everything when starting a business in Dubai or Abu Dhabi. Even the best restaurant or cafeteria can suffer, due to a poor or uninformed choice of business location. Dubai has created many different business zones, that specialize in different sectors e.g.
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