…insights from entrepreneurs in the food industry in Nigeria

Episode 49 – What Restaurant Owners won’t tell you

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@bbqcravings @businessfeverng.com

I am sure there are a whole lot more topics to touch on but these were just some that came to mind while recording this podcast

Let me begin by talking about the hours. I think in the beginning, I opened at 8 o’clock in the morning and maybe closed 10:30 pm on our work days.  We were closed on Mondays for maybe 3-4 yrs; I did this so that  I could have one day off to rest. So in the beginning it was from Tuesday to Sunday.

Weekends are tough as those are our busier days – that means friends party, events, and weddings have to be sacrificed or compromised.

Now let’s look at other major concerns:
  • Customer acquisition cost is very high
  • Headaches not limited to – customer issues, staff issues, bad supplies, equipment breakdowns, government regulations and policies, insecurities from comparison with competitors
  • Your friends wont keep you in business,
  • Get feedback from customers
  • Not all Customers feedback should be worked on
  • Put structures in place and always go back to improve on it
  • Have standards of operations
  • Constantly Recruit
  • Cross train your staff, build redundancies, Many will fall off
  • Fire quickly and higher quickly and slowly ( yes its that complicated)
  • Have a thick Skin
  • Manage the Stress
  • You might have to cancel some products, change certain menu items, and look forward to pushing new products
  • What ever product you are pushing endeavor to have back up options
  • Check supplies to make sure it meets your specifications and standards
  • Inventory management and control is key
  • You can get a software for inventory management and get a staff to manage it
  • Landlord is another issue; if you are going to invest in a space, make sure that your time-frame worth the stress
  • Security is also something you have to worry about; depending on where your location is
  • you can factor how much sacrifice you want to make but you almost have to have a strong presence in your business for a long time to make sure that there’s nothing funny is happening in your restaurant
  • You almost have to decide if you want to be the face of your brand or you want the brand to stand by itself
  • Think that, if you are the face of your brand you are going to lose a lot of privacy
  • You have to build your business to have its own identity and have its own loyal customers
  • Don’t be afraid of failure rather learn new things from it.
  • Avoid insecurity and never give up
  • Be willing to try to know more and network with people in the same or similar business as you
  • Learn how to manage employees
  • You sure have to put in your time and work hard in the early days of your business to build it rightly.

listen to the Podcast

Reference:

Top 5 Major Challenges In Running a Restaurant in India

 

 

Emeka Editor
Emeka is passionate about the Evolving Business Environment and the challenges bedevilling it. He is ardent and cognizant with the Restaurant Industry having worked in various outfits as a manager and consultant. He is presently working for BusinessFeverNg as the B.D.M and content editor.
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Emeka Editor
Emeka is passionate about the Evolving Business Environment and the challenges bedevilling it. He is ardent and cognizant with the Restaurant Industry having worked in various outfits as a manager and consultant. He is presently working for BusinessFeverNg as the B.D.M and content editor.
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Emeka is passionate about the Evolving Business Environment and the challenges bedevilling it. He is ardent and cognizant with the Restaurant Industry having worked in various outfits as a manager and consultant. He is presently working for BusinessFeverNg as the B.D.M and content editor.

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