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5 Entrepreneurial Opportunities in the Restaurant Industry

Estimated reading time: 4 mins

Business ideas are aplenty in the millennium that pushes for creative thinking and funds fresh ideas. Because people are more health conscious now and because people are more inclined to buy fresh and delicious fare, the restaurant business amongst all other business ideas are booming. You would probably encounter a new themed restaurant in your area every now and then promising to be the next big thing that will enthrall your palette, give you great health benefits or whatever it promises. Restaurants are a big thing and people line up to the next upcoming restaurant as if it were the next celebrity. Food has become entertainment and nourishment as people expect more explosive flavors as the world becomes smaller and smaller through cultural exchange.  The changing values of this generation is also a factor in how the restaurant industry will evolve in the years to come making the restaurant business all the more exciting.

How to get started financially

  • To get started in your business you must have some source of capital usually it would be through your savings from an 8 to 5 job. If you are lucky you can get your friends and family as investors and they can also help in mentoring you. If you truly believe in your product you can get some crowdfunding to help you with the initial costs of growing your business. Crowdfunding is either rewards based wherein you give away a particular item such as a shirt or equity-based where the investors have a share in your company. Either way, you are required to meet deliverables and meet your goals. Be sure to spend moderately when starting out and don’t make unnecessary splurges. If you have good credit standing you can easily get cash advance online for business starting costs. Don’t be afraid to start your first business venture and do the necessary grit work to make it a success.

Startup ideas to serve restaurant business

1.     Food Saving

Restaurants usually make more than what it eventually serves resulting in food waste that just goes to the trash bin. With the threat of global warming and the high number of people suffering from hunger wasting food is not good practice. A business must have a conscience and use business practices that properly use resources. One way to avert food waste is to sell the food at a lower price by the end of the day. Another way some restaurants avoid food waste is by having a detailed record of food served and minimize waste by purchasing less of items that end up in storage. Restaurants can also come up with a creative way of recycling food like salt and straw’s creative way of turning food waste into high-quality and tasty ice cream.

2.    You ARE What You Eat

People are more conscious about their health these days and they want great nutrition with great flavors. You can design your startup around a diet or health fad to attract customers who are more on the fit side. Diets such as Keto and Paleo diets are all the craze these days and you can cook foods that cater to people with health targets. You don’t even have to have a restaurant for this kind of business. You can set it up in your home and do food deliveries in homes and offices so people can stick to their diet no matter where they are.

3.    Order Ready as You Get There

One way to attract customers and reduce food waste is to order as you get there. Get a restaurant’s menu beforehand and plan in advance the kind of food you want prepared. This will eliminate the waiting time for your order and you can have a more stress-free experience in your dining when you don’t have to wait. Ordering as you get there also keep you from ordering on a binge and you only get to order what looks attractive for you. You get a high-quality meal and a high-quality experience as customer staff have plenty of time to prepare your food before your arrival making sure it’s served hot and fresh and according to quality standards.

4.    Home Cooks

If you are a certified chef and a solopreneur you can make a business out of your expertise as a home chef. Plenty of families and individuals want the services of a professional chef so you will always find that your skills are in demand. You can opt to have a specialty such as Japanese or Mediterranean or you can claim mastery of all. It all boils down to your own preferences and what you think will work best with your demographic.

5.    Food trucks

Location is a primary factor in a successful restaurant business and with a food truck, you can choose any location! Set up your food truck with a theme depending on your special culinary skills and also depending on the location and needs of your market. If it’s an upscale district you will do well serving sophisticated and varied fare that appeals to the district. Make your food truck eye-catching and sanitary and get the necessary permits to make your truck attractive and your foods appetizing.

 

About the author /


Simon is a creative and passionate business leader dedicated to having fun in the pursuit of high performance and personal development. He is co-founder of Applied Change, a Business Change consultancy based in the UK. Simon is also an Ambassador for Gloucestershire business. Simon is an Associate Member of the Chartered Institute of Professional Development.

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