The Indian food and drink market has expanded greatly during the past few decades. According to a report by Mordor Intelligence, the Indian foodservice market is estimated to develop at a CAGR of 10.3% between 2021 and 2026, reaching USD 95.75 billion by 2025. Because of this, entering the food and drink industry is a wise business move. Given the circumstances, many people entered this field and established their own businesses. Although it is impossible to create a “real” eatery from scratch, many would-be restaurateurs are drawn to the many novel concepts that exist in this industry. Do you feel overwhelmed by the number of potential restaurant business models? In any case, relax; below you’ll find a variety of restaurant business models you can launch right immediately.
It is challenging to open a new restaurant. This is particularly true if you are just starting out in the field. The only way to know if you can afford to take the risk is to assess your financial condition and your prospective outcomes, and then create a plan to implement the risk. Imagine opening a five-star restaurant only to have to shut it down a year later. So, you need to think of a restaurant business plan that won’t break the bank. Some quick and easy restaurant business ideas are as follows:
1. Cooks in the Home Kitchen
Given its novelty, this idea is sure to attract attention and praise in the years to come. Housewives typically take up the role of chief culinary officer. Your home cook will take your order and prepare the meal there and then. The widespread acclaim that home cooks have received is not due to the fact that people prefer home-cooked meals; rather, it is the result of the cooks’ having worked in the industry for ten to fifteen years or more and thereby acquiring a wealth of expertise and experience.
In addition, there is little barrier to entry for those who have the necessary skills to open a home kitchen. With the use of food technology and other support services like online delivery platforms, the entry barrier for home chefs to start their kitchen has been lowered. The same way that they used to serve home bakers, popular internet delivery companies now cater to home chefs. So, in 2018, this format will be widely praised and well recognised.
Also Read: Restaurant Business Tips
2. Cloud Kitchen
People often mistakenly believe that a cloud kitchen is the same as a regular kitchen. There are significant distinctions between the two formats. Those who work in a “cloud kitchen” manage multiple restaurant concepts under the same or various names.
A home cook, on the other hand, does all the work in the comfort of his or her own kitchen. The most crucial aspect is that all home cooks use the same brand name and produce only that brand’s products. Because it does not require a large sum of money up front, it is one of the most sought-after forms by industry newbies. Here you can learn about starting your own cloud kitchen eatery.
3. Food Trucks
In the past few years, food trucks have become a huge hit. Less money is needed to get started, and if you can run your truck well, you can make a lot of money. This makes this format the most popular idea for a new restaurant on the market. The food truck doesn’t cost much to buy, and it doesn’t cost much to run either. Even though the rent is high, it doesn’t make the restaurant owner poor.
On the other hand, you only have to spend money once to buy the truck. One of the best things about having a food truck is that you can move it easily from one place to another. You’ll also get a feel for the business. If you want to open a restaurant later, you can get some hands-on experience by running a food truck first. One of these stories is Ramji Chaiwale in Bangalore. Before getting into the QSR business, the QSR started out as a food truck and ran as one for a long time. This article will show you how to start your own food truck business.
4. Restaurant Serving Food Rapidly
This is one of the best ways to start a restaurant business right now. QSRs are popping up everywhere like a swarm of locusts. Since it is easy to start and doesn’t cost much to get started, it has become one of the most popular formats. But because there aren’t many barriers to entry in this market, the competition is very tough. As the owner of a quick-service restaurant, you have to compete with brands that are already well-known in the market, as well as with local food carts and street vendors who sell similar food at a lower price. Here, you can learn how to run a successful QSR chain.
With the number of quick-service restaurants (QSRs) on the market growing, it’s not hard to see that this is by far the most profitable restaurant startup idea that people have embraced on a large scale.
A new restaurant is just like any other business in that it can reach great heights if it is run well, but it also faces many problems. We’ve talked about some high-profit food business ideas that don’t need a lot of money to start and have low risks, but if you have the money, there are many more restaurant business ideas you can try. Fine-dining restaurants, bars, bakeries, cafes, and ice cream shops are also good ways to make money with a restaurant. Read this to find out more great restaurant business ideas that make a lot of money.
Also Read: Restaurant Promotion Ideas