Indian food retail industry is positioned sixth at the global level with 15 per cent annual growth. Seeing this opportunity we see lots of entrepreneurs making way to the restaurant business. But despite all the opportunities that the sector offers, there are few measures that one needs to keep in mind before tapping the idea.
Ownership Mentality: No matter what business you run and where you are, having keenness to lead something is very important in restaurant business. “Ownership mentality is the key to the entire equation of where you are and where you want to go in the restaurant business,” shares Rajeev Varman, CEO, Burger King India.
Keenness to Adapt: With lots of happening and concepts entering the food business. There is lots of disruption happening in the sector. Every other day we see a new restaurant popping up in the city and over hundred in country. “Food industry is the only industry within the universe of business where so much of disruption is happening and you don’t know whether your business will exist or not the next morning,” says Anjan Chatterjee, Founder & MD, Speciality Group of Restaurants.
Running on Networks: Every business is built on networks and relationships. You need team and people to run a successful business. “Concentration and distribution is very important in any business. For ex; you are clicking a picture of something you are eating and sharing it on Instagram. That’s concentration but it also gives you the ability of distributing it and your mobile phones becomes the distribution,” shares Jaspal Singh Sabharwal, Co-Founder & CEO-Tag Taste & Senior Director-Everstone Capital.
Presenting Things Differently: We don’t go to the bars in India to have just alcohol; Food is very important part of the complete F&B setup. “In the fine dining space every customers wants to get pampered and the essence of the chain is getting pampered and presenting things differently,” says Ashish Dev Kapur, Founder & Director, Moods Hospitality Pvt. Ltd.
Keep Innovating: Restaurants business is all about innovation and finding new things on the platter. We see lots of brands taking global routes to innovate their menu and there are many brands that are promoting local Indian cuisines. “There is a lot of western influence in India, but the innovation in Indian brands itself is learning for the rest of the world,” adds Sukh Tiwana, Group Commercial Director, SSP Group Limited.