Starting a Restaurant Business in Nigeria
Starting a business a business in Nigeria is tough; starting a restaurant business is tougher. While food is one of the basic necessities of life, some restaurant businesses still fail. The norm that food business doesn't lead to loss is fast becoming a fallacy, as statistics show that a large number of restaurant businesses fail. According to a study about failed restaurants by Ohio State University, 60 percent close or change ownership in the first year of business, 80 percent fail within five years. Starting a restaurant may be one of the most lucrative businesses of our time, but it is very crucial to follow the right procedures. As hospitality consultants,
Curzon& Jones has a proven track record of restructuring restaurants that are on the verge collapsing. In this post, we will teach you how to set up a thriving restaurant in Nigeria.
Location is the key factor in setting up a restaurant in Nigeria. Using Lagos as a case study, restaurants on the Island, Ikeja or Maryland will attract more corporate clients than restaurants in Iyana Ipaja and Okokomaiko. Also, more restaurant businesses are on the Island due to the notion of class and elegance that the location connotes. Since the cost of getting a place differs, it is crucial to make whatever location you choose work for you.
What do you have to offer? What's your unique selling point? Is there a market for the unique food you want to sell. If you can't answer these questions, don't bother to start a restaurant. There is already too much competition in the market. If you have all these questions answered, then you are free to have a picturesque of a great menu.
For a new restaurant, the menu should be simple, easy to read and outstanding. You also need to include food that people are familiar with. Most importantly, let your menu reflect your brand – be known for something. Some restaurants are popular for breakfast, others are known for delicious dinners. With time, clients will become familiar with your brand.
Digital Marketing for Restaurants
Not just for restaurants, digital marketing is becoming a very crucial aspect of every business. You can reach more people and create a greater client database from social media platforms, your restaurant's website, blog guest posting, putting up deals on OTA sites such as Dealdey, Jumia Food and Curzon&Jones deals page. You can start off by setting up your Instagram and Facebook pages.
You know that headache you get when you hire an incompetent person, that is how destructive the wrong set of staff can be. Don't be too hasty to employ somebody, take your time to follow up the interview sessions keenly. Don't contract it out as well – be there!
Be Part of the Work
Hiring people is great, but being part of the growth process is fantastic. Imagine being able to explain how to grow a business' revenue from 1000 NGN to 100,000 NGN, amazing right? The business needs you as a carrier of the vision.
Colour Coding Your Restaurant
Your colour is your style, and this sets the tone throughout your restaurant to convey whatever message speaks to your heart. So choosing the paint colour for your restaurant is about as personal as it gets and will make or break how you feel each time you step into your restaurant. The best way to narrow down a decision is to look at colours from various paint manufacturers and see what colours work best for you. You'll know which one you like most by the smile it puts on your face when you gaze upon it. It will charm your clients the same way.
Keep it Alive
You do not need so much money to spice up your restaurant. Get ideas! Apart from being a place to have a good meal, you can introduce specials. Think about starting up a Karaoke night, Suya night, English breakfast, eating competition and online giveaways. This will make your restaurant out of the ordinary.
Starting A Restaurant on a Low Budget in Nigeria
Yes. This part is very crucial to us. You can start a restaurant at little or no cost. Today, there are a number of mobile restaurants on the Lagos Island. In a similar vein, there are restaurants on Instagram and on Dealdey, which function based on food orders without a physical location.
If you are getting a place, you can get a small place in a location that suits your audience. Make sure that the physical location does not gulp a large chunk of your budget. For a low budget business, it is better to employ few diligent staff, so that you will be able to pay them. A lot of things also need to be monitored and executed by the business owner.
Starting A Restaurant on a High Budget
Wow! With your big budget, you can start up a classy restaurant, but this needs to be managed well by you. Yes, you. Because your budget is high and you need to recoup your money, it is advisable to do a lot of research – this is called feasibility studies. In fact, if you do not have a very big budget, this is still very crucial.
Since high-class clients love luxury, getting a big space in an attractive location will give you an edge over those starting with a small budget. And since you have more money to employ a professional cook, soon you can join the league of top restaurants in Nigeria.
This article was written by Jolaosho Aderinsola, BA (Hons) English graduate working as a content writer for http://www.curzonandjones.com.