Restaurant consulting services
India’s vast cuisine
is an amalgamation of influences from various cultures and traditions over the
centuries. This popularity put the country on the global culinary map with
several chefs earning prestigious awards for their restaurants. Furthermore,
restaurants and hotels accounted for the highest consumption among the food
services market across the country in the financial year 2020.
Best Restaurant Consulting services in Bangalore:
Constituents such as a rise in frequency of eating out, the tendency of experimenting with new cuisines and growing brand consciousness have driven the Indian food service the market for a considerable portion. This has directed the dominance of full-service restaurants in India.
India has observed a significant growth in the Quick Service Restaurants franchises (QSR) in the past decade. The concept of quick serving restaurants has been successful in the country due to shorter serving times and quicker food consumption alternatives for the consumers. Several foodservice players such as McDonald's, Burger King, Pizza Hut, Domino's, KFC among others are few famous quick service restaurants widely present in almost every city of the country. Therefore, quick-service restaurants are yielding to the foodservice market in India significantly.
HOW TO EXPAND YOUR RESTAURANT BUSINESS?
Starting Franchise A restaurant is a method to effectively expand your business. Under this system,
you (the franchisor) give a license to independent owners (Franchisee) to use
your Trademark, business model, along with and other intellectual properties
along with processes to sell or provide services under your Brand Name.
70% of successful
restaurant owners choose to franchise their business after they start making
high profits. Businessmen who choose to expand their business are six times
more likely to earn profits and be successful in replicating their brand's name
and success.
HOW TO FRANCHISE YOUR RESTAURANT FRANCHISE?
Current Model Evaluation
Before you start
franchising your restaurant business, you should accurately evaluate your
business from end to end. The most
crucial aspect to consider is the suitability of your business concept.
It is necessary to
evaluate the cost structure of the cash flow for the initial years and give an
estimate of the five-year return to the franchise.
The cost structure
includes the following-
● Initial setup cost
● Infrastructure development
● Equipment required
● Technology
● Marketing plan
● Human resource management
Process of Working
If your concept is
replicable, then you need to stabilize a robust and efficient process to ensure
consistency and success across outlets of your brand. The principal aspects
that determine the process of working are-
● Sales Recording and Tracking
● Stock and Inventory Management Process
● Supply Chain Management
● Vendor Management
● Payouts and Commission Management
● Staff Training
● Franchisee Assistance
Trademark and Logo Registration
When you franchise
your restaurant, you give someone the franchisee the right to use your brand's
logo and Trademark. Hence, registering your brand’s logo and acquiring a trademark is the most important in the process of franchising your restaurant.
Cost Estimation
After deciding the
processes, you need to prepare an initial setup cost or investment plan for
Franchise Restaurants. The top restaurant franchise business models owe their
success to accurate cost estimation and the ability to cut down on unnecessary
elements such as food costs, wherever possible. It should have all the possible
heads of expenditure. Based on your restaurant’s business model, divide the
initial setup costs.
Infrastructural
Soundness
● Choice of Location
● Interior Setup
● Electric and Electronic Fittings
● Furniture Requirements
● Branding / Signage (Interior / exterior)
Licensing
& Establishment Cost
There are a few
licenses that you will require for the further establishment of your outlet.
You will need to obtain all the necessary permits and licenses that you would
need to settle down with a restaurant. Given below are some licenses that you
will need to obtain as a restaurant franchise:
● FSSAI
● VAT/GST registration
● Local Municipal Licenses
● Liquor Licenses
Cash Flow and Financial Projection
Based on the current
and the past sales of your restaurant, you should consider the current Cash
Flow and the Financial Projections. The franchisor should prepare a cash flow
for the revenues based on the number of orders per day and multiply it by the
average ticket size.
This will help in the
revenue projection of your restaurant.
Further, as the franchisor, you should estimate the expected average growth rate and project it
for the first twelve months of the business of the franchise. Also, project
revenues and incomes for the first five years or the tenure of the franchise.
Brand Profile
Prepare a Brand
Profile or a business plan and to give a better understanding to your
Franchisees. You must be in the position of competing with the prevalent top
restaurant franchises in India. The documents should contain the vision of the
brand.
It should also give
the vision of the brand along with providing a brief detail about the products
and services offered along with the schedule of the opening a new outlet.
You also need to mention what kind of support and recruitment assistance you would be providing to the restaurant franchise before and after the establishment. This will enable you to influence some level of consistency and uniformity in the brand. To avoid the loss of the brand's reputation, the franchisor must create a culture of adhering to the brand values from the inception of the franchise.
Franchise Agreement
Since there are no laws distinct to Restaurant Franchising, it is vital to have a designated agreement between the two parties to protect the rights of both the franchisor as well as the franchise. The Agreement should contain explicit information regarding the payment, plan, tenure, schedule, royalty, and the support the franchisor will provide to the franchise.
There is no
legislation to protect the franchisor under which it can sue the franchisee or
take away the right to continue the business.
Training
Training of the Staff
is an essential component required to maintain the standards of the product as
the Franchise Restaurants. The franchisor should administer the training of the
entire staff, right from the Head Chef to the busboys. The selection and
training of the new employees should be done much before the opening of the
Franchise Outlet.
Most successful Franchisors prefer to recruit at least a few employees one month before the opening of the news outlet. They seek to give hands-on training to the existing outlets to provide the recruits with a conception of the level of services expected from them. Some Franchisors also employ some of their old trained staff at the new outlet to train the new employees.
Restaurant Franchise Consultancy:
Once the restaurant has started with its working, and the restaurant owner is earning profits, The next step for the business is its expansion.
Expansion of your
restaurant business would require careful planning and consideration. Among
several restaurant expansion opportunities, you need to analyze various factors
and choose the suitable method of expanding your pre-existing business venture.
Restaurant owners mainly turn to the Franchise
route for restaurant expansion because of its ability to save time and
considerably reduce the resources required for executing the expansion of their
Restaurant Brand.
Sparkleminds is one of the leading restaurant consultant firms that
can help you go through the restaurant franchising journey. The company has a
robust team of market analysts and strategy formulation experts who can help
you replicate your brand correctly and effectively.
Franchise Consultants Service:
1.Franchise services
2.Digital Marketing service
3.Social Media Marketing
4.Google ads
5.Website on SEO
For more Details about consulting services click here: Sparkleminds Bangalore
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