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Essential Lessons for Starting a Business from Scratch: Have You Mastered These Hidden Keys?

Updated: Oct 30

New Open | 顧問開講

 
餐飲創業,羅念祖,姚采穎
圖片 | WIX

As a restaurant professional consultant, I often get asked questions like, "When is the best time to open a restaurant?" and "What should I prepare before opening?" These questions may seem simple, but the considerations behind them are quite complex. Before opening, take a moment to thoughtfully consider what makes your restaurant unique. Identify your distinct positioning. Then, carefully plan every detail, from market research and financial planning to menu design. Build a competent and trustworthy team, and continually learn and innovate to stand out in the highly competitive foodservice market.


How thoroughly should you prepare to be considered ready?


There is no absolute answer to the question of "timing."

The optimal entry point varies by industry, region, and type of restaurant. However, you might consider the following perspectives:

Consumer preferences for dining have expanded beyond just taste; health, convenience, and diverse options have become mainstream. The rise of health-conscious eating, green sustainability, and the popularity of delivery platforms all present new opportunities for the restaurant industry. Therefore, before opening, conduct in-depth research into similar restaurant business models, identify your most competitive competitors, and carefully evaluate the impact of government policies on the foodservice industry to secure a place in the ever-changing market.


Opening a restaurant is a marathon; consider starting on a smaller scale.


Avoid blindly following trends. Each restaurant has its uniqueness. Study the competitive market, find your positioning, and identify an audience that understands and is willing to engage with your brand. Make sure to prepare thoroughly, including market research, financial planning, and menu design. Building a strong team is key to success; team cohesion is crucial. The restaurant industry changes rapidly, so continually acquire new knowledge, introduce new products, and be patient and persistent. Before deciding to open a full-scale restaurant, consider starting with a smaller operation, such as a food truck or a food market stall, to gain experience before opening a physical location.


Don’t try to cater to every market.


Market segmentation is crucial in restaurant management. Trying to cover too many markets can spread resources thin and decrease competitiveness. Focus on a specific niche, create a clear market segment, and find your blue ocean. This way, you can more precisely target your ideal customer base, offer products and services that meet their needs, and increase customer loyalty.

If you have other related questions, feel free to fill out the form and contact us. We are dedicated to assisting you in your opening journey.


 


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