Feasibility Study to Start a Restaurant Business in India

1. Feasibility Study to Start a Restaurant Business in India Food has become the love language of the GenZ. A particular dish has the power to bring two very distinct and different people to a single table and munch on it. This is the simple implication of how a restaurant business will bring you profits and footfall more than ever. But, with this thought, you need to remember that just like you, many other people might also be on the same page and looking forward to investing in a restaurant business. So, how to stay a step ahead of them? Well, reach out to The India Watch and get your restaurant business’s feasibility study done. Come; let us share with you some basic questions that we answer via the feasibility services. 1. What are the market area and the demographic profile (income levels, family structure, gender, age group, religion & culture, etc.?) From the start of your business, you must know about your market area and the demographic where you can get the most footfall. You need to learn the income level of the people living in that area, their age group and gender, followed by the culture, language, religion, and other important aspects. Once you have clarity on these points, your market area will be clear and enable you to plan your restaurant's theme and cuisine served, along with all the remaining things. 2. How to develop the right concept that will fit in with the market area?

2. Conceptualization of the Business idea is equally important and ignoring it implies a huge risk. Developing the concept plays a huge role as it will aid you in planning the equipment required, staff members, utensils, seating, etc. If the mapping of the restaurant is abrupt, it might snatch away the customers, whereas if it is on point, then there will be no time that your cafe becomes picturesque. All this will depend upon what you serve and how you price it. So, get a note of that and dig more into the concept that you wish to sell.

3. Find the Right Location for the Restaurant Business? For a restaurant to function effectively, it is important that is located in a place which is conveniently accessible from roadways, metro, and other modes of Communication. It should be visible from the highway and should have proper water and electricity supply. It should have a high density of passersby and the future of the surrounding holds high potential. Learn more About the Competition It is important to learn more about the competition, both direct as well as indirect. Suppose you are planning to start a Pizzeria, then the direct competition will include other pizzerias, QSRs, fast food cafes, burger joints such as McDonald, Burger King etc. The indirect competition involves other restaurants and food joints such as coffee shops, Chinese corners, casual dining places, Indian snack corners, food trucks, etc. During the competitive analysis, it is important to cover a wide range of parameters such as pricing, taste of food items served, ambiance & interiors, the behavior of waiters and staff, location, table turnaround time, etc. Competitive analysis is generally done with the help of observation methodologies, as it gives fresh perspectives and insights. Prepare Detailed Financial Analysis As any other feasibility study, before starting a food eatery, restaurant, or hotel, it is essential to do a detailed financial analysis. The financial analysis involves financial projection, IRR, NPV, cost structure analysis, ratio analysis, ROIs, etc. For any further assistance, you can contact with the The India Watch. Feel free to drop us a mail at info@theindiawatch.com Follow Us: Facebook | Twitter | LinkedIn | Pinterest | Instagram Call Us: + 91–8197749919 Email Id: paritosh@theindiawatch.com