Starting a Restaurant Business in Nigeria
Starting a business in Nigeria is difficult; Starting a restaurant business is more difficult. Although food is one of life’s basic necessities, some restaurant businesses still fail. The no-loss food business norm is fast becoming a fallacy, as statistics show that a large number of restaurant businesses fail. According to a study of failed restaurants by Ohio State University, 60 percent close or change ownership within the first year of business, 80 percent bankrupt within five years. Starting a restaurant can be one of the most lucrative businesses of our time, but it is very important to follow the correct procedures. As hospitality consultants,
Curzon & Jones has a proven track record of turning around restaurants that are on the brink of collapse. In this post, we will teach you how to set up a thriving restaurant in Nigeria.
The location
Location is the key factor for setting up a restaurant in Nigeria. Using Lagos as a case study, restaurants on the island, Ikeja or Maryland will attract more corporate clients than Iyana Ipaja and Okokomaiko restaurants. In addition, there is more restaurant business on the Island due to the notion of class and elegance that the place connotes. Since the cost of obtaining a place is different, it is essential that whichever location you choose works for you.
The menu
What do you have to offer? What is your unique selling point? Is there a market for the unique food you want to sell? If you can’t answer these questions, don’t bother opening a restaurant. There is already too much competition in the market. If you have all of these questions answered, then you are free to have a great quaint menu.
For a new restaurant, the menu should be simple, easy to read, and outstanding. You should also include foods that people are familiar with. Most importantly, let your menu reflect your brand – be known for something. Some restaurants are popular for breakfast, others are known for their delicious dinners. Over time, customers will become familiar with your brand.
Digital Marketing for Restaurants
Not just for restaurants, digital marketing is becoming a crucial aspect of every business. You can reach more people and build a bigger customer database from social media platforms, your restaurant website, guest posting on blogs, posting deals on OTA sites like Dealdey, Jumia Food and the Curzon & Jones deals page. You can start by setting up your Instagram and Facebook pages.
Staff
You know the headache you get when you hire an incompetent person, that’s how destructive the wrong team of staff can be. Don’t rush to hire someone, take your time to follow the interview sessions carefully. Don’t hire him too, be there!
Be part of the job
Hiring people is great, but being part of the growth process is fantastic. Imagine being able to explain how to grow a company’s revenue from 1,000 NGN to 100,000 NGN, amazing right? The business needs you as a vision bearer.
Color code your restaurant
Your color is your style, and this sets the tone throughout your restaurant to convey any message that speaks to your heart. So choosing the paint color for your restaurant is as personal as possible and will make or break how you feel every time you walk into your restaurant. The best way to narrow down a decision is to look at the colors of various paint manufacturers and see which colors work best for you. You’ll know which one you like best by the smile it puts on your face when you look at it. You will charm your customers in the same way.
keep it alive
You don’t need that much money to bring your restaurant to life. Get ideas! Aside from being a place to enjoy good food, you can introduce specials. Consider hosting a karaoke night, a Suya night, an English breakfast, an eating contest, and online raffles. This will make your restaurant stand out from the ordinary.
Starting a Restaurant on a Low Budget in Nigeria
Yes. This part is very important to us. You can start a restaurant at little or no cost. Today, there are several mobile restaurants on the island of Lagos. Similarly, there are restaurants on Instagram and on Dealdey, which work based on food orders without a physical location.
If you’re looking for a venue, you can get a small venue in a location that suits your audience. Make sure the physical location doesn’t take up too much of your budget. For a low-budget business, it’s better to employ few diligent staff, so you can pay them. Many things also need to be overseen and run by the business owner.
Starting a restaurant with a high budget
Wow! With your big budget, you can start a fancy restaurant, but you have to manage it well. If you. Since your budget is high and you need to get your money back, it is advisable to do a lot of research; this is called feasibility studies. In fact, if you don’t have a very big budget, this is still very important.
Since upper-class clients love luxury, getting a large space in an attractive location will give you an advantage over those starting out on a small budget. And since he has more money to hire a professional cook, he will soon be able to join the league of best restaurants in Nigeria.
This article was written by Jolaosho Aderinsola, BA (Hons) English graduate who works as a content writer for http://www.curzonandjones.com.