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Excerpts from the E Book Restaurant Secrets ...
Finding the right location for your restaurant
Now where to locate and who to target as far as your restaurant is
Earlier around 10-15 years back, it was a famous saying
that there are three things which are very important for the success of a restaurant.
Those were Location, Location and Location – and it was true!
Those days, most of the restaurants which opened, were Udupi style of restaurants. Most of the restaurants were Udupi style or
Maharashtrian Style or Punjabi style restaurants which used to caterto masses.
There were not that much Fine Dine restaurants.
For example, market areas like Bombay stock exchange, any of the
market areas there was a huge floating population. The restaurants in those areas used to flourish. So that is one of the reasons why people used to focus on location!
But now after the globalization of 1992/1993 and after the opening
up of the markets and finances – it’s very easy to get finance and
money... the earnings have increased, the spending power of people has increased. Now, people have slowly started looking into the other aspects. Now, people want quality.
So now according to me, the ideal thing which is very important as
far as success of a restaurant is concerned are three things – the first is the Location, follow by Service you render and lastly Marketing.
The success of a restaurant does not mean that once you give good service, your customer would return to you. People are being
bombarded with marketing messages every second.An average
person get more than 3000 Marketing messages each day.A
restaurant owner has to compete with that much competition and
distraction. Taking for instance, assuming someone who has had
beautiful tasty food, the next morning you ask him, “Which
restaurant would you go to?” It is very hard for him to remember the name of the restaurant.
That is because the market is so competitive. So now the mantra is Location, Food, Service and Marketing. Now in current times in a
restaurant, price is not a criteria. The type of food and service is a
major Make or Break situation. Earlier, 10 to 15 years ago, people
were very price conscious. Now they intend to spend more and
expect great value for their money spend. They value the return
experience they get!
Earlier,there were masses in the market and they were very skeptical
if the prices increased. They used to switch their restaurants if there was a simple increase of a couple of Rupees in a plate of Idli or something like that. But now people don’t even look at the right side of the menu again, they now look at the left side of the menu. to build – all these things can be written down on paper.
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