There’s Money To Be Made With Food & Drink
The food and drink industry is one of the most booming out there.
But make no mistake, whilst there is a lot of money to be made, there is also a hell of a lot of money to be lost. It’s so easy for a business in the restaurant or drinks industry to crash and burn to the ground for multiple different reasons.
For one, you’ve got the worry of literally poisoning someone, and that happens on a daily basis when food is involved. You’ve got to deal with quality inspections. Pay to have a license to sell alcohol.
But above all, there’s the simple risk that your restaurant or bar just might not be good enough to make the money you need. But let’s not focus on the negative, because a business venture in this niche would be wise, here’s why.
The food industry is one of the biggest industries out there, and making money from it is easy. However, due to their being such a wide variety of food chains, both fast food and normal restaurants, it’s easy to fail due to the lack of creativity when it comes to the food you decide to make.
In this day and age, people love to be wowed. Whether that be from a creative design on the plate, or something that just tastes absolutely delicious. So, there are a few things you need to think of being going into something like this.
The first is to think about the food that you want to sell. Is it going to be desert based, all courses, A la Carte? Think about your demographic that you want to reach and tailor a menu based on that.
If you’re going to sell food that is a little more upmarket, you want to try and situate yourself in a city of some sort. No matter what you’re choosing to sell, make sure it is always to the best of your ability.
Try and listen to customer feedback as much as possible, however good or bad it is. You’d be ever so lucky to go through your time owning a restaurant without having some negative customer feedback at some point or another.
Take it on board, and always make sure you’re giving regular training to your staff to make sure they’re as trained as they can possibly be.
The drinks industry is nearly as big as the food one, except it’s becoming more and more popular for people to head to cocktail bars and pubs for a good time.
Cocktail bars in particular are on the rise, and each year new chains are being made selling some of the finest and most creative cocktails there are.
So, again, competing in an industry like this is just as hard as food. What you need to do is find out what you want to sell. A sure fire venture that should always be a good earner as long as you approach it the right way is a pub.
As long as you purchase one in a good area, and make it attractive for local punters, you should always be winning. Make sure you have the best pub carpet, toilets, special offers, and things such as a darts board or snooker table.
Little things like this will help to keep people interested, plus it’s also a good idea to each weekend put on different offers such as a 2 for 1 on cocktails or pints etc.
A pub usually sells food, but not all of them do, so it’s up to you whether you want to go down this road as well. There is a bigger potential to earn money, but there’s also all of the risks that selling and cooking food brings.
If you’re looking for a really easy venture, a creative cocktail bar could be the one for you. People of all ages, legal ages that is, love heading to a cocktail bar as of a weekend and trying some of the most delicious flavours they’ve ever had.
To do something like this however you need to be able to set up your own unique menu, and come up with some really funky aesthetics. It’s the aesthetics of the drink that helps to draw people in.
Things To Be Mindful Of
The one thing you really need to be mindful of is reviews, and what is being said about you. You should always be monitoring them and addressing any customer complaints.
Have too many complaints about the same thing and it could drive your business into the ground. As long as you’re hiring excellent staff and always following up with training, you should be acing the food or drink industry.
Latest posts by Poppy (see all)
- Safeguarding Your Business – Prevention Is The Best Protection 100% - December 12, 2018
- Stuck In A jam? 5 Ways To Get Out Of A Tricky Financial Situation - December 12, 2018
- Fixed Asset Register: Essential Information You Need - December 6, 2018
- Cost-Saving Measures That Many New Startups Overlook - December 6, 2018