To Start a new start-ups like Facebook, Bitcoin & Twitter also need big investment, Day & night of Coding and you also don’t know whether it will be success or not. but a me too business will surely give you success & profit from the day one. a restaurant Business in India is very profitable still the sales growing up to 10% as of 2021. Let see what you require to open a restaurant Business.
Decide a good name for the restaurant
A good restaurant should convey the hidden benefits or Overall idea or ambiance of your restaurant to the customer like Dosa plaza, Behrouz biryani etc.
Decide the Rate concept of the Business
You have to keep many things in your mind before starting it. The (APC) Average price per customer is very much important like what will we the average price should charge per customer of that particular meal. Then you should decide the meals for your restaurant.
Funding for the restaurant.
You should finalize how much you have to invest in your restaurant based on the size, area & facilities you are providing. you can apply for the business loan from the bank if your idea is great then you can get the loan amount. Self funding is the another option you can choose if you have it you can invest or borrow it from parents and give them back after the profit. and last angel investor or VCs if you or your team able to pitch your restaurant idea well like how you differ from others restaurants this will surely going to impress the VCs. and you can get the funding.
Analyse the every cost you will bear for the restaurant.
Labour cost, Food cost( usually it is around 30% of the main menu cost), labour cost, rent, interiors, kitchen equipment’s, marketing, licences.
Location of the restaurant.
The most important thing in opening a restaurant business this parameter will make the business success or you will end up having failure. so choose the location wisely revolving around the need, competitors, environment, Visibility, accessibility & NOC. you will require NOC from the 3 neighbours.
Licenses to open a restaurant
Trade license from BMC
GST Registration (GST On Restaurants(concessional rate) of 5%)
Professional Tax license