In the previous article we looked at the pitfalls that lead to failures at being a successful restauranteur. Herein, we will look at ways to be a booming restaurateur and make a mark in the exciting world of food and beverage.
There are a list of abilities, best practices and expertise vital for being a competent, thriving and skilled restaurateur A close look at ways to be an owner of a flourishing eatery would be a great learning and truly distinguishing. The below insights will highlight the skills and the proficiency required to master the game of food and beverage entrepreneurship.
However, incredible being a restaurateur may sound and feel, it is indeed a tough task to master and the failure rate is exceptionally high in the scheme of things. A close look at ways to be a successful restaurateur would be great learning.
Part 2: Ways to be a successful restaurateur:
Knowledge of food and beverage world: The owner should ensure that he or she has the basic knowledge of food and beverage business trends, standards and general F&B know-how. For example, having a fair understanding of how flow of work happens in the kitchen and restaurant could be handy and valuable for the restaurateur to run the show and be an integral part of daily operations.
USP & Concept: Have clarity. Know, understand and decide on the Unique Selling Point (USP) and the concept of the outlet. While one may be inclined towards going for a completely new and in-fad concept, it is best to only do what could be successfully activated and managed.
Be there: This is a full-time job and should be treated as such. Hands-on-management and involvement of the owner in day-to-day processes can give an edge to this business and lead to the enhanced success of the place. Devil is in the details and with the presence of top leadership, details are well-taken care.
Lead only the best: Hire the best team for kitchen and service and lead the team to triumph actively. F&B business is skill intensive and employing individuals who are guest & quality-focused is paramount. On a side note, while hiring the kitchen team, it is imperative to do a food cooking and tasting session before hiring anyone into the sacred kitchen.
Money – Money: Ensure that there is enough working capital kept aside in the bank so that the tough initial months could be spent without worrying about cash flow and focus to remain on promoting and executing daily diner operations and delighting guests.
Bookkeeping: Have an accountant to assist you with daily and monthly book-keeping: this one is a must. People may consider this expense unnecessary though this person can save much more for the restaurant business. Ensuring that the entrepreneur is aware of the topline, daily food cost, labour cost and other overheads is essential, and the book-keeper can make this happen.
Be the Purple Cow: Ensure that aggressive marketing, digital & social media presence, and advertising is taken seriously and done even before outlet launch. A well marketed and showcased outlet can create a stir in the market that can help it establish itself successfully.
The dynamic and vibrant world of F&B is extremely challenging and demanding. The above pointers can facilitate an individual operate and lead the business to its pinnacle. While these points may sound easy, the execution here holds the key. As Peter Drucker said, “Vision without execution is a delusion. The joy is in the results”. A choc-o-bloc full place plus profitable restaurant gives a superb feeling that a restaurateur cannot get enough of. It is a winning cocktail of confidence and creativity.
Varun Behl is a Jaipur based restaurateur operating a chain of restaurants and QSRs (Quick Service Restaurants)