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How to start a restaurant business in Nigeria

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We love food, you are food lovers and they are food lovers. Everyone loves food so they’ll surely purchase from you. But, it’s not as easy.

The process of opening a restaurant requires thoughtful planning. It’s easier to accomplish if you break it into smaller steps. In this article you’ll discover how to begin a restaurant.

How to start a restaurant business in Nigeria
How to start a restaurant business in Nigeria

Types of restaurants

There are numerous kinds of restaurants and it is possible to operate every type. It is important to choose one and put in all your efforts and capital into it. Here are the options.

1. Fast food outlets

These kinds of establishments are specialized in fast food preparation as well as informal service. The majority of customers don’t even sit down for a meal, as they simply buy and leave.

Fast food restaurants are always designed to be fast and easy. It is expected to make very little from each patron.

2. Fast casual eateries

While they are similar to fast food chain, casual restaurants can differ in a few ways. There are some nice spots or seating furniture, but certainly not a large table.

Fast casual eateries typically offer fresh food that are healthy and nutritious. They can also provide non-recyclable dishes and utensils.

You could earn a more money per patron in a fast-casual restaurant than in fast-food establishments.

3. Casual dining restaurants

These kinds of restaurants provide complete table service in an ambiance that is peaceful. They will expect you to serve a variety of dishes priced at a reasonable price. Also, you can offer alcohol, appetizers, and main dishes.

You’ll earn more money from each client, without doubt. But, you’ll need to present yourself as more professional. It is also recommended that some of your staff serve as a waiter or host.

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4. Family meal

The majority of these restaurants function similar to casual eating. But, they do not typically offer alcohol to patrons.

You’ll earn more from every sale because some of your customers arrive in groups. Many will choose to visit your restaurant for lunch, breakfast, and dinner choices.

5. Fine dining restaurants

A restaurant that is elegant provides customers with a more sophisticated and luxurious dining experience.

You’ll earn more from each sale because your customers will pay not just for the quality of your food, but also for the exquisite dining experience you’re offering.

6. Other kinds

There are many different kinds of restaurants that do not fit into any of the five categories listed on this list. This includes:

  • Cafe
  • Bars & Pubs
  • Food trucks
  • Bistro
  • Buffet
  • Ghost restaurants
  • Pop-up restaurants
  • Contemporary casual and much more.

How do you start the restaurant business

Take these actions to begin your restaurant business:

1. Decide on the type of restaurant you’d like to open

Select a food business from those we’ve mentioned earlier. Take note of the following:

  • Fast food establishments mostly offer snacks and fast food items. The majority of your customers will be students and office workers.
  • Restaurants that specialize in fine dining are geared towards the wealthy and beautiful
  • Casual dining restaurants are more generic. The majority of your clients will be children, families or friends as well as the general public.

2. Find the right place to open your restaurant

It is important to note that we have employed the term “appropriate.” This is because the location you choose will be largely based on the kind of restaurant you’d like open. There are additional factors to think about.

  • Cost
  • Surroundings
  • Accessibility
  • Competition

3. Make a business strategy for your restaurant

Similar to any other enterprise, restaurants require an extremely strong business plan. The plan will be broken down in sections and will describe all aspects of your business.

This will help you define your goals as well as your financial goals, objectives, and other aspects. A business plan can assist you in attracting investors or request bank loans, among other things.

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4. Explore financing possibilities for your restaurant

The next step is to secure the necessary capital to start your brand new venture. Before this, you must calculate what it will cost for you to operate your restaurant during the first six months.

We’ll now discuss the best way to raise the initial funds. It’s largely dependent on the kind of structure that you use for your business. If your restaurant will be a sole proprietorship then you’re limited in funding options.

You could use your own personal savings to fund it, and then seek some funds from your wealthy friends and relatives.

If you’re in the business of a partnership that means you have greater opportunities to raise funds as the presence of two (or two or) heads are more efficient than a single head.

Your restaurant can be also a Limited Liability Company. In this scenario both your individual and corporate assets will be legally viewed as distinct things that will shield you from any legal action.

It’s extremely easy to find money for an LLC. You can contact Angel Investors, Venture Capitalists, Business Incubators and many other sources of investment.

5. Register your restaurant’s business and apply for the required permits and licenses.

Based on the country in which you’re opening a restaurant You must be registered with the government , and with the relevant regulatory institutions.

These bodies are typically responsible for the supervision and registration of health and food companies like yours.

They will also provide guidelines that you must adhere to like an appropriate amount of employees, the size of your establishment, ventilation and hygiene, banned bad ingredients, and many more.

If your restaurant business is one of a pub or bar, you’ll require a liquor permit. It is important to note that liquor licenses can be extremely time-consuming and expensive to acquire.

6. Get your restaurant equipment

Write down everything you’ll need, and put the items on a sheet. Be aware that your kitchen and furniture requirements will be based on the type of restaurant you’re planning to run.

Don’t forget that you could save money by purchasing items that are used and in good condition. You can also purchase high-end new equipment when you have a large capital investment.

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7. Find the right employees

Based on the nature of your restaurant You may have to employ other employees to assist you in the daily running tasks.

Create a list of all the restaurant jobs your company will require at the beginning. Once you have that list you must employ them according to the importance they have.

Do not forget to determine the days that your restaurant is operating during week, and the number of shifts needed every day.

8. Create an menu

The menu is the mainstay of any restaurant’s business. While fast food restaurants might not necessarily require this, informal dining restaurants and other food vendors should have it.

How can your patrons make reservations if there isn’t an menu? Additionally you won’t be able to effectively promote your business without it.

9. Spread the word!

It is important to develop an advertising strategy that will create brand awareness and draw new customers. Apart from organizing a grand or soft opening, it is also advisable to move to digital.

The type of restaurant you run (local or international) It is essential to have an online presence, both on social media as well as through search engines.

Your restaurant should be listed on as numerous business listing sites and directories of restaurants. Consider the following choices.

Conclusion

Despite the financial and economic problems that a lot of people traverse food and drink will remain an integral element of their lives and lifestyle.

Find a suitable site, register your company purchase restaurant equipment, and promote your business. From the beginning the restaurant industry has been profitable and will continue to remain.

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