Restaurant business is a a type of food business that has existed in Nigeria for a very long time. Having a restaurant is lucrative since its a venture that can never cease to exist so far as people get hungry, they must look for a food restaurant to eat.
If you are passionate about cooking and want to make money, a restaurant business is one of the many business ideas in Nigeria. It is a business where you buy foodstuff, cook and sell to customers who want to eat in your restaurant or take it home.
STEPS TO TAKE BEFORE STARTING A FOOD RESTAURANT IN NIGERIA (2023)
When professionally designed and executed, the business rarely has bad sales, due to the fact that the target market for the restaurant business is virtually endless. Consider this: everyone eats, everyone needs a place to eat, and no matter where you are, there will always be someone willing to buy food and eat. People are so busy these days that they hardly have time to cook at home. As a result of that, they eat at restaurants near them, resulting in an ever-increasing demand for fast food and eateries.
Here are the steps to start a profitable restaurant business in Nigeria
STEP 1: FIND THE RIGHT RESTAURANT LOCATION
Getting a good location to build a restaurant always gives the company a competitive advantage and leverage, increasing its profitability and ensuring the sustainability of such a business over time.
STEP 2: FIND A LARGE OUTLET
There is no doubt that setting up a restaurant requires the use of a spacious venue that can accommodate people from all walks of life, with a space wide enough to provide the instant serenity, relaxation and enjoyment of customers
STEP 3: MAKE SURE THE RESTAURANT IS MARKED WITH A PROFESSIONAL NAME
In order for a business like a food restaurant to have an impact and a competitive advantage, branding such a business is necessary and essential. Every restaurant owner in Nigeria should consider branding as one of the necessary tools to make his/her business sustainable.
STEP 4: HIRE THE RIGHT EMPLOYEES
Since restaurant companies are known as businesses that cater for people’s nutritional needs, it is imperative that your employees are hospitable and able to quickly meet the needs of those who come to patronize your business.
It is necessary to hire employees and employees who are willing to understand the needs and desires of advancing business goals and objectives in line with business goals over time.
STEP 5: HIRE A PROFESSIONAL CHEF
As the business expands, including customers from various parts of the town, some clients may need some international dishes, and only one chef per restaurant can deliver. Therefore, it is important to consider hiring a chef who can provide professional service by helping customers eat while running the food restaurant.
STEP 6: RAISING FUNDS FOR THE BUSINESS
Having a lot of money can increase the prospects of a restaurant business to cover more fields of work. You currently need around N500,000 – N10,000,000 to start a successful restaurant business in Nigeria. This can be changed freely and definitely depends on the scale you want to start with. But, as I always say, start with what you have.
STEP 7: RESTAURANT REGISTRATION
Registering a business is important if you are bent on taking your venture to the next level. Registering your restaurant business with strategic management gives your business the ability to apply for loans and grants at any time.
STEP 8: BE HYGIENIC
One of the most important factors to consider when setting up a restaurant is cleanliness, tidiness and hygiene.
In order for this to be a continuous process, it must be enforced from the very beginning of the business and must be continued in daily business operations. No business can thrive and survive beyond the reach of hygiene to maintain good health, just as it provides the perfect place to prepare the most delicious dishes.
STEP 9: UNDERSTAND BUSINESS DYNAMICS
Each company has its own dynamic that makes it unique at all times. The uniqueness needed to make your restaurant business competitive requires a deep understanding of business dynamics.
Food restaurant businesses always have ups and downs which, if properly understood, can prevent daily waste. Once the momentum is known, your restaurant business will become a top business among other businesses.
STEP 10: BE PREPARED
In your desire and will to have a restaurant business in Nigeria, your preparation to weather the storm of uncertainty is essential. Since the economic realities of a country like Nigeria is at a low ebb and it is quite wavy, anyone interested in a good restaurant business should be prepared for uncertainties.
STEP 11: ALIGN YOUR BUSINESS WITH GOVERNMENT POLICIES
Due to the sensitive commercial nature of restaurants affecting the health and lives of consumers, it has become an important sector of the Nigerian economy, where many levels of political governance are directed at all levels of the economy.
It is therefore important that company activities strictly adhere to the government policies. The policies of the Ministry of Health, the Standard Organization of Nigeria and Consumers Protection Organizations should be closely adhered to to increase confidence in expansion and thereby increase advocacy in the course of business.
STEP 12: PROVIDE NECESSARY AND APPROPRIATE TOOLS
In order to have hitch-free operation in a restaurant, it is necessary to have the right and proper equipment where proper operation is needed, which will promote prompt delivery of services to the customer. Quality equipment ensures good service when running a restaurant.
Despite the poor electricity supply in Nigeria, every food restaurant is expected to improvise generators or other means of generating electricity while in business.
STEP 13. HAVE A BUSINESS PLAN
When a stable and prosperous business turns out, the necessity of increasing it is necessary. This will involve increasing the need for building or leasing more outlets, or acquiring more tools necessary to sustain operation. It is important to have a business plan that will open your eyes to the restaurant industry in Nigeria and not just to loans.
In order to be successful in your restaurant business, you need to be prepared for the inevitable challenges, but we can guarantee you success if you follow the thirteen simple steps explained in this article.