4 Reasons why you shouldn't start a food busines
- Introduction
- business plan
- location
- finance
- partners?
- product
- marketing
- employees
- SOP for staff
- sourcing
- Hygiene
- customer relation
- Market survey
- expansion
You dream of starting a food business but something is holding you back. This article can help you take the big step towards your dream. Read on to see if you should pursue your dream.
It is not simple or easy to start a business. If you want to succeed, you need to do your due diligence and leave no stone unturned. I know it is easier said than done. I am guilty of not doing my due diligence in starting up several businesses over the years. I hope my lesson learned will help you avoid the many pitfalls on your way to success. The following sections list the things you need to consider.
1. Introduction
You are here, which means you must have an idea for a successful restaurant. That is great! You have some ideas about what your restaurant will be like. You have these delectable dishes people will line up for. I am sure your friends and family members have given you advice on how to go about it. There will be words of encouragement, positive comments, and negative comments. Take all these with a grain of salt, but do not dismiss the negatives and embrace the positives. Resist the temptation of being swayed by the positive comments or discouraged by the negatives. Make a list of all these comments for decision-making later. The advice commonly given is make a list of the pros and the cons.
2. Business Plan
A pro and con list will not get your far! When my wife was involved in starting the two restaurants (a Japanese quick serve and a fusion fried wonton and sandwich), the partners didn’t have a business plan or even pro and con list written down. They may have discussed this briefly. One of the partners was the chef-owner of a successful sushi restaurant and the plan was to ride his coat-tail to success. The other partner worked at the sushi restaurant as server. My wife’s background is in accounting. So between the 3 of them, they had it covered! Just a little interesting fact, in Chinese Feng Shui, a 3 “legged” partnership is unstable.
A business plan can be as simple as
– What you are going to