Restaurant business models


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Restaurant business models

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Restaurant business models

  1. 1. Restaurant business modelsMini Restaurants are becoming a great new business model for many Entrepreneurs whocan spot opportunities in their home town, where they live. Any parking lot by a busyroad or a downtown street corner can become a potential location to target with a MiniRestaurant. This business model has proven itself to be profitable in countries all over theworld for as long as humans can remember.The reason this business works so well can be found in the fact that it caters towards abasic human need: People need to eat and they love to eat! In the following article I willtell you how you can profit from this fact.So, what is a "Mini Restaurant" you might wonder? A Mini Restaurant is simply akitchen on wheels that can be set up at any place where people drive by, walk by or stopby. Mini Restaurants often focus on offering a limited menu of specialty foods that can beserved quickly and have a highly perceived value.The reason why Mini Restaurants are becoming so popular is because they represent"impulse purchasing sites" where customers get instant gratification in the forms of IceCream or Coffee or comfort foods like Bar-B-Q Sandwiches or Pizzas.These Mini Restaurant Operations are easy to put together and build into a profitablebusiness. But setting a business up is only half of the work. The other often neglectedaspect is marketing! The time you spent working "on" your business is worth a lot morethan the time you spend working "in" your business. Planning to be present at futureevents and festivals takes long term scheduling of your time. Every weekend counts,especially during the busy summer months. If you dont keep good records it is hard toremember how you did financially on a particular show or event.After doing many shows and festivals, I started to set up daily in my town and found it tobe way more profitable. This is where the easy and fast money is! I found out that thebest strategy is to rent a lot on a busy street and start your own daily restaurant operation.This way you can build your business from the ground up and create a place of interest tomany people.Here is a secret how you can get free traffic and publicity to your business:Create events! Events are interesting and engage the publics mind. A lot of times you canget talented people to work with you for free if you strike win- win situations with them.Here are some ideas for you: • Get a chainsaw artist to carve sculptures out of logs and sell them as well. • Talk to local bands if they would like to jam at your place and sell their albums.
  2. 2. • Start a weekly open mike night where people come together and enjoy great food, music and drinks. • Start a benefit event where you collect money for a worthy cause. • Team up with other "non-competing" mobile businesses in your area and offer them to set up on your lot. Good options are produce vendors as well as plant and flower vendors. • Call a local radio station and ask them to broadcast from your place.Keep in mind that "an event" doesnt always mean some orchestrated happening. You cancreate an event by simply having something of interest for visitors. The idea is to think ofways to grab peoples attention. If nothing else, write a story about your operation,interesting experiences or some new menu items and give people some reasons to checkyou out. Send your story out to all newspapers in your area. This way, it is easy to get theattention of the media and get them to print and air your news.This means: free advertising for you and plenty of business at your "Mini Restaurant"!Now all you have to do is turn the visitors into buyers. And this is easy to do when theysmell, try and taste you specialty foods! – You can download free ebooks about: restaurantmanagement forms, restaurant business plan, restaurant marketing plan sample,restaurant startup guide…