CHINESE FAST FOOD RESTAURANT BUSINESS PLAN GUIDE
Are you planning on starting or franchising a Chinese restaurant?
Here are some tips on starting and running such an outlet which might be very helpful to you as an intending investor as the world recession is gradually making everyone an entrepreneur.
Before starting this business, here are some vital steps to consider to avoid failure.
SEE: HOW TO START AN ITALIAN RESTAURANT
Here is a sample business plan for starting a Chinese restaurant.
- GET A CHINESE RESTAURANT BUSINESS PLAN
The saying goes, “By failing to plan, you are preparing to fail.” Every business needs adequate planning, and a Chinese fast-food restaurant is not excluded.
Before setting up a Chinese fast-food restaurant, you should have a proper business plan, and this business plan should include a description of your restaurant’s concept and operation.
Also, when making the business plan for your Chinese restaurant, include the type of Chinese cuisine on the menu and the price range.
Decide what you want, a buffet menu or table service for customers who prefer to take out. Remember, “hope for the best, prepare for the worst.”
- RAISE CAPITAL
After making a proper business plan, you should start thinking of raising enough capital for your business; like the saying goes, “before building a house, you should count the cost,”
You should be able to write a detailed financial section in your business to prepare to loan institutions so that your loan application can be considered.
You should also list the cost of startup capital, and map out how much long-term income you expect from the business, and make expense forecasts.
Determine how many employees you will need and how much it will cost to hire them. Don’t borrow excessively to start up your business.
- CHOOSE A GOOD LOCATION FOR YOUR RESTAURANT
In every business, especially this fast food business, location is a crucial factor to consider before setting up your business because it determines how many customers you will be getting daily.
If your company is located in a place with little traffic and visibility, your business will most likely not be successful.
It’s advisable to get it situated on highways, business streets, shopping malls, or colleges.
- CONSIDER HEALTH AND SAFETY CODES
When establishing a Chinese fast-food restaurant, you must consider the health of your customers and staff, and gather information about all federal and state regulations on health you must meet before opening a fast-food restaurant.
Each state or country has its own rules and regulations which guide the body, as well as licenses and permits you must obtain.
Verify with your state’ss department of licensing and regulations, or the department responsible in your state, which licenses and permits you need to open your business.
- EMPLOY WISELY (CHEF AND STAFF)
In this kind of business, part of the success lies in the hands of your workers. This is because they are the ones that are dealing directly with the customers.
You need to employ and have a good team; without a good team, there is no way you can succeed in a Chinese fast food business.
A good chef with years of experience in Chinese recipes will make a fabulous restaurant because they must have undergone training on preparing different cuisines; you also need staff such as service attendants, waiters, cleaners, security, etc.
To succeed with a Chinese fast food restaurant, you must be very careful when employing your team to achieve optimal success.
- ADVERTISE YOUR BUSINESS
Are you starting a Chinese fast food restaurant? You should be ready for constant promotion until you reach where you are popularly known. This does not mean you will not rerun any promotion; you will only reduce the money spent on advertising.
If top brands like Coca-Cola and Nike can still be spending millions of advertising everywhere, who are you not to?
You need to create awareness and reach out to customers to get you started; this method includes social media, online platforms, flyers, television advertisements, word of mouth, banners, and radio.
Although you may not necessarily need to advertise for an extended period, you need it for a start.
GUIDE: STARTING A FRIED CHICKEN RESTAURANT
- GET STARTED
You must have done all the requirements to get created, make the launch day known, and invite friends and family and others to launch.
Make available gifts if possible, and give a discount, at most one to two weeks after launch; you also need to be innovative in your service by including home delivery and provide a discount on a huge purchase.