Restaurant business can be a fairly safe and easy option to implement because the barriers to entry/exit from the industry are low. When you have enough investment capital and want to start a restaurant business, pay attention to the following 4 important factors to avoid shortcomings right from the beginning.
– Identify target customers – Customer Insight
- Price
- Location
– Customer service
4 Important Factors in Restaurant Business
1. Identify Target Customers – Customer Insight
With the increasingly integrated and diversified culinary market, the eating needs of Vietnamese customers are also increasingly rich and expanding. It is almost a daily occurrence for a family, a group of friends, a couple or just a single customer to go to a restaurant. And if you want to open a restaurant to serve anyone, this is the time you need to find a separate market for yourself.
– Who are they: customer age, occupation, place of residence…
– Where they live: the area they live in and nearby places they can eat and drink
– Their income level: how much are they willing to pay for a meal at your restaurant?
– Their common interests and tastes: Vietnamese, European, American, fast food, vegetarian, healthy…
– Their restaurant eating habits: they often eat alone, eat together, eat with colleagues, partners/agencies..
– …
Ask yourself questions to determine who your target customers are, the size of this group of people and whether it has the potential to grow in the future or not? And better yet, you should survey directly or consult experts in the industry to be more sure of your answers!
2. Choose a location
Once you have identified the right target customer file, you need to continue choosing the right business location for your restaurant.
Depending on the amount of investment, you will consider where the restaurant is located to be reasonable (affordable, easy to reach target customers). If you decide to invest in a high-end restaurant located in the city center, it will obviously be a prime location, in a large, crowded and easily visible area... corresponding to a high cost, right?
Since the cost of renting a location will be a fixed amount (CAPEX) in your business expenses, balance your cash flow to ensure that your restaurant has the minimum profitability to cover this amount.
3. Price
You have understood your customers and chosen the right location, the next step in your plan is to price your menu and related services.
Prices should be based on the affordability of your target audience, relative to the benefits you will bring to them. The right price will balance the profits of your restaurant, bringing the necessary satisfaction to customers who come to eat.
For example: If you open a restaurant specializing in buffet parties, spacious space, diverse service like Sen Restaurant System (Buffet Sen Tay Ho), customers often go with friends, relatives and their minimum spending is estimated to be 1,000,000 VND/meal. On average, each person has to pay 450,000 VND - 500,000 VND, such a price is acceptable with the ability to pay and they can be completely satisfied if they find the food to their taste.
So, if you want to give an accurate price range for your menu, you must identify your target customers and understand the average spending level of this group of customers, their ability to pay for the restaurant to propose the most reasonable price.
4. Customer Service
The fourth and most important factor for a restaurant to impress diners from the first experience is customer service
For a restaurant, customers come partly because of the food, and partly because of the customer service. Not to mention the menu or the prices, but just being served enthusiastically from parking, leading to the table, professional reception and receiving feedback with a positive attitude... customers will have an impressive experience to remember about your restaurant.
Good customer service will make diners remember & have a good impression of your restaurant.
If the food is delicious, the price is reasonable but the service is bad, the staff does not know how to take care of customers, will customers continue to come back to your restaurant or will they find other restaurants with better service? Will customers choose a restaurant with special birthday deals or choose a restaurant without any care program on their special day?
Caring for customers, focusing on customer service to optimize their experience - that is the premise for them to love and return to your restaurant the next time. From opening the door to welcome, ordering food to taking care of customers through calls, monthly promotional messages, congratulations on special occasions... you can completely make customers satisfied with every small touch point at the restaurant. And to achieve this, of course you have to invest in a methodical customer care process, a team of professional staff/receptionists.
Building professional F&B customer service
With more than 13 years of experience in the Call Center & BPO field (outsourcing services to partners providing management and customer care services, helping businesses focus and spend more time on core business/operation areas...), Bellsystem24-Vietnam has successfully supported many large branded restaurant chains in Vietnam with its customer service solution system.
If you have a desire to do business with a restaurant, Bellsystem24-Vietnam is a great choice, with support services in all 3 main processes of restaurant business (before, during and after sales):
+ Pre-sales: Consulting, Lead generation,
+ In sales: Support providing/ answering questions or requests from customers, inbound sales, outbound sales, calling to confirm orders..
+ After sales: Survey on satisfaction level and collect comments, complaints, and customer contact points
Make a breakthrough for your restaurant by booking our customer care solution consulting service here or get our Consultation & Quote today!
