Food and beverage industry in India has grown considerably over the years. The size of the foodservice market in India has been estimated at INR 309,110 crores in 2016 and is projected to grow at a CAGR of 10% over the next 5 years to reach INR 498,130 crores by 2021. This makes venturing into the F&B industry extremely lucrative. Considering the predicament of the situation, there are many who started their own ‘something’ in this arena. While you just cannot start a proper restaurant there are several restaurant startup ideas that are attracting the eyes of the aspiring restaurant owners. Are you confused about what are the various restaurant startup ideas that you can venture into? Don’t worry read below and know about the various restaurant startup ideas that you can implement right away!
Restaurant Startup Ideas
Starting a restaurant isn’t easy. This is especially so if you are a newcomer to the industry. In such a situation, you must analyze your budget and potential and must fix a format in which you can take the risk. Imagine you start a fine dine and you had to close it within a year? Hence, start something that you will be easy on your pockets. If you are perplexed, don’t be. There are a few restaurant startup ideas that you can implement right away are:
1. Home Cooks
This is a new concept which will garner a lot of appreciation and eyes in the upcoming year. Home cooks are generally the ones who cook in their home. A home cook himself or herself takes orders and cooks right from their own kitchen. The immense applause that home cooks have received is not because of the fact that people are loving homemade food, but because cooks have been doing this job for over 10-15 years, and in the process has gained a wide range of knowledge, experience, and exposure. In addition to that, most people who have the skill can easily start a home kitchen since it does not involve much cost. The barriers for home chefs to open their own kitchen has reduced with the help of technology and other support services like online delivery platforms. Nowadays, popular online delivery platforms cater to home chefs as they did to home bakes earlier. Hence, this format will gain a lot of appreciation and will be readily acknowledged by people in 2018.
2. Cloud Kitchen
While most people think that a cloud kitchen and a home cook are one and the same, it is not. Both the format has some fundamental differences. In a cloud kitchen, one generally hires a chef, rents a place, gets equipment in place and many a time one also hires a few staff to get work done. On the other hand, a home cook himself or herself prepares the food and that too right from their own kitchen. Since it is a format which does not demand a lot of initial investment, it readily becomes one of the most wanted formats for most of the newcomers in the industry. Find out how to open a cloud kitchen restaurant here.
3. Food Trucks
Food trucks have gained immense popularity in the past few years. While the investment is less, if you can manage and run your truck well, the profit garnered will be quite impressive. This is exactly what makes this format the most liked by all the newcomers in the market. Not only does the food truck require a low investment, its operation cost isn’t high either. It does not burn a hole in the pocket of the restaurant owner with the high rentals. On the other hand, it just involves the initial investment of buying the truck. One of the main positive sides of owning a food truck is the fact that you can change its location and shift your food truck easily. This article will tell you how to open a food truck.
4. Food Cart
The food cart is another amazing restaurant startup idea. Like a food truck, the initial investment of a food cart is also less. These are for those aspiring restaurant owners who are not willing to take a risk and invest a lot in the business. In order to make your venture a successful one, you must have a good product, a lucrative location, a cart, a staff or two, utensils, and gas in place and you can be sure to have an amazing food business.
5. Quick Service Restaurant
This is one of those formats that has made always been a success in the market. QSRs have been cropping up like a swarm of locusts everywhere. Since it is easy to start and the initial cost is not all that high, it has evolved as one of the most favourite formats of the people. The size of the QSR market is estimated at INR 9,125 crores in 2016. It is projected to grow at a CAGR of INR 24, 665 crores in 2021. However, considering the low barriers to entry in this segment the competition is extremely high. As a quick-service restaurant owner, one has to compete with the already established brands that already have a market presence and also with the local food carts and street vendors that provide similar products at a relatively lower price.
A restaurant startup is just like any other business, that can be taken to heights if run smartly, but is also riddled with a number of challenges. While we have mentioned some of the high-profit food business ideas that don’t require much investment and also have low risks, there are several other restaurant startup ideas if you have the budget. Fine dine restaurants, bars, bakery, cafe, ice cream parlours are also lucrative restaurant formats.