How Profitable Is Restaurant Business In Nigeria 2019/2020 Pdf
- 1 How Profitable Is Restaurant Business In Nigeria 2019/2020 Pdf
- 1.1 How to Start A Fast food Restaurant Business In Nigeria
- 1.2 Success Tips For Fast Food Restaurant
- 1.3 Some Lay Beliefs You Should Do Away With
- 1.4 Other Amazing Business You Can venture Into Today
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Fast Food Restaurant business is getting increasingly popular everyday because everyone seems to be busy and too occupied to make a dish. I can personally attest to the fact that cooking is now a hurdle, especially to workers who live alone and don’t have much time to spend in the kitchen. It’s not a matter of not being able to cook, it’s about not having enough time in this fast paced world.
Food Business is very lucrative, especially in places of high traffic like school campuses, corpers lodge, block industries, town squares etc. As long as a food canteen exist around, there will be individuals who will prefer to patronize the business than cook theirs.
The purpose of this article is to enlighten you on how you can start your own fast food restaurant and be successful. What prompted this post was prior to my recent patronage in a popular fast food joint here in Umudike, Abia State.
As a student in the department of entrepreneurship, it’s not everyday that I have the time to cook, especially when there are assignments to take care of, projects to write, seminars to attend and business meetings which I have to be present. At the end of the day, I find myself exhausted, just like fellow workers, entrepreneurs and students like myself.
As long as your dishes are delicious and cheap, coupled with a nice environment, the business will definitely flourish even in the mist of an intense competition. If you have an interest in starting a fast food business here in Nigeria, please read on.
How to Start A Fast food Restaurant Business In Nigeria
Capital is the first and crucial factor that must be considered, although it’s not a blockade at all. I believe in starting small and growing into a giant. No matter how little, you can startup and as time goes, expand.
You’ll need a minimum of N400,000 to start a small-scale Fast Food Restaurant, especially if you’ve a space already.
I will urge you to take your time and go on a market survey, it will help you draw a detailed business plan that leads your business to success. With a business plan, you’ll know the exact amount needed to start the business.
2. Business Space
Your fast food restaurant business must be in a good business location where there’s a lot of pedestrian traffic, and places like school campuses, block industry, market squares etc. These are places where your target market are prone to be located. With a great cook and a good customer service, your business location will be a happening event where your customers serve as advertisers.
3. Furnish Your Space
After you’ve secured your business location, the next step is to furnish your shad with everything that’s needed for the smooth operation of the business. Below are most of the equipment and materials needed.
Tools Needes for Fast Food RestaurantE
- About 3 dozen of plastic chairs
- 1 dozen of plastic tables (For soup, rice, Garri/eba, pepper soup, etc)
- Lots of plates
- Washing hand basins
- Table cloth etc..
Through your business plan, you’ll be able to know everything you need to start this business.
4. Your Menu
Your menu is hugely determined by your location and your target market. If the business is located in South East Nigeria like Abia State, then your menu will look like this;
- Egusi Soup
- Vegetable Soup
- Oha Soup
- Stew Rice
- Pepper Soup
- Draw Soup
- Fried Rice etc
You can also sell all manner of drinks like Coke, Pepsi, 7up, malt etc..
5. Employ More Hands
Truth is; you can’t do it alone in a fast food restaurant business. It’s literally impossible. You need someone to serve your customers, your also need someone who will be in charge of the money, and another who takes care of washing the plates, cups, spoons etc. The more your business grows, the more people you employ to help out.
There will come a time when you don’t have to be present for the business to be operational. With such employees, you’re free to go on a year vocation and still, it won’t disrupt anything.
Success Tips For Fast Food Restaurant
1. Know How To Cook
Fast food business entails that you know how to cook exceptionally well, or at least, have someone who can. You need to give your customers reasons why they should keep patronizing your business. In my experience, there are over ten (20) different food canteen here in Benin, but only one was able to capture my heart due to the fact that their food is great, coupled with good customer service.
I wasn’t the only one who became loyal, the traffic that exist in that canteen can’t be counted. Whereas their competitors will be idle, begging for customers.
The bottom line is; how delicious your food is determine how far and successful you’ll become in your Fast Food Restaurant business.
2. Amazing Customer Service
Another important factor is having a great customer service. Have you ever walk into a shop only for the owner to behave as if you don’t exist? Whenever such a thing happen to me, I take a walk immediately. I can’t stay in a place where I am unwanted.
When a customer come in, meet him or her immediately and enquire for his wants. The faster you serve them, the better. If the number of people are too much and overwhelming, assure them that they will be served as quick as possible.
Serve accordingly, I.e serving from the person who came first till you reach the last. Nothing pains a customer more than when you serve someone who just came in. No excuses justifies that.
3. Serve With A Smile
Don’t you ever serve a customer will a frown face. No matter what happen, wear a smile always. Sometimes, all you need to make someone a permanent customer is your smile and attitude.
If perhaps, you were angered by a spouse, an employee or a customer, don’t allow it take away your smile. The worst is when you transfer the aggression to a customer. A wise woman once said,
“If you lose one customer, you’ve lost a hundred customers”
Make sure you have a wall television that keeps your customers entertained. The longer they stay, the more service they are likely to order.
The more you understand your customers, the more you know how to satisfy them. Also, season plays a huge role in entertainment. Make sure you have the latest music in your playlist, or the reigning movie. Staying with trends is also an advantage as long as a fast food restaurant is concerned.
Some Lay Beliefs You Should Do Away With
Here in Nigeria, people usually believe that the owner of a fast food restaurant have delve into fetish practices, especially when the business have started booming. These beliefs have made potential starters to shy away, or look for means to contact such fetish doctors to do the same.
To them, they believe that you can’t make it without Juju (demonic powers).
Sorry to burst your bubble, most, if not all of these rumours are false. They are rumours circulated by jealous competitor whose aim is to bring down a business.
Most of them usually levy allegations such as; “He/She cooks with water used to bath a dead body”
In business, your success lies on how hard you work. It doesn’t happen overnight. But it will with consistency and hard work. It’s not magic, it’s hard work.
Fast food restaurant is a profitable business anyone can start, be you a man or a woman. All you need to have a booming business is a delicious dish, good customer service and hard work. With these in place, the sky will be your starting point.
That’s the much we can take on the topic “How Profitable Is Restaurant Business In Nigeria 2019/2020 Pdf“.
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