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Nairaland Forum / Nairaland / General / Business / How Much Does It Take To Start A Restaurant (36167 Views)
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Re: How Much Does It Take To Start A Restaurant by muzzol: 12:50pm On May 20, 2015 |
Op, candid advise is that you should first conduct a feasibility study on this business you are trying to do. I will advise you engage an independent professional to do this and give you his opinion on whether to go ahead or not. This study will definitely start with internal assessment of you and your present state (self and business), the environment, detailed strategy you want to adopt......this will resolve into needed structure, systems, infrastructures and technology...........Until you know all these, you cannot know how much you need for the business......Meanwhile, before committing any cost, it is necessary to conduct a viability test on the business while projecting into possible profitability and liquidity.......Lastly, dont forget sensitivity analysis and exit strategy...........My one naira advise to you 1 Like |
Re: How Much Does It Take To Start A Restaurant by mashnino(m): 12:55pm On May 20, 2015 |
extremelygolden: the whole upstairs-downstairs thing... |
Re: How Much Does It Take To Start A Restaurant by mashnino(m): 12:58pm On May 20, 2015 |
Originalsly: Nobody is born with the technical know-how of running a business... There is a place we all start from... and this is mine.. I might fail at the beginning, but i know i will surely get a hang of it 1 Like |
Re: How Much Does It Take To Start A Restaurant by mashnino(m): 1:02pm On May 20, 2015 |
njays24: hmmm... nice... and i am guessing you are still going strong... |
Re: How Much Does It Take To Start A Restaurant by AriDsexy(f): 1:08pm On May 20, 2015 |
MaleoPearls: Even if its a hole.....50k,Haba! |
Re: How Much Does It Take To Start A Restaurant by Nobody: 1:18pm On May 20, 2015 |
mashnino:By the grace of God. The major challenge we have is power,but we have a standby 40kva generator,but spend quite a lot on diesel. |
Re: How Much Does It Take To Start A Restaurant by Originalsly: 1:35pm On May 20, 2015 |
mashnino:True...but Bro...is this the best you can do before coming to the table? You came with practically nothing....not even the basic info like the location you have in mind....is it Victoria Island?....in Aba?....or somewhere in the Congo? How serious or businesslike can you be if you can't even provide these common sense info? "The heights of great men reached and kept ....were not attained by sudden flight..... but they as their companions slept were toiling upwards through the night". Chew on that....no disrespect. |
Re: How Much Does It Take To Start A Restaurant by Bobbieydeey: 1:43pm On May 20, 2015 |
Fesomu: One and only white house,their amala fit make person crase hehe |
Re: How Much Does It Take To Start A Restaurant by mashnino(m): 1:49pm On May 20, 2015 |
Originalsly: I provided them above to someone that asked... I can't/won't just ask about this kind of thing without doing my own research... I have done my own outside research, but one place i still lack is Salary and Kitchen wares... I would have asked about that..but i wanted to hear from the Brilliant minds of Nairaland what it requires to start a restaurant Just to cross-check what i already know and added knowledge too.. |
Re: How Much Does It Take To Start A Restaurant by mashnino(m): 1:50pm On May 20, 2015 |
njays24: So it's continental dishes or just the regular Rice and Co... |
Re: How Much Does It Take To Start A Restaurant by Nobody: 2:01pm On May 20, 2015 |
mashnino:A normal eatery of eat in and take away. Fried rice n chicken,jollof rice,coconut rice,chicken n chips,pastries,ice cream,popcorn,bread,cupcakes, wedding and other kinds of cakes,shawama, coctail drinks,etc. We also cater for parties;cook for you or supply small chops and cocktails. We do almost anything you want us to do,and if it's bigger than uis we sublet it. |
Re: How Much Does It Take To Start A Restaurant by bighuntenter: 2:08pm On May 20, 2015 |
mashnino: Send me a mail at: bighuntentertainment@gmail.com. I think I have some level of experience in this field. Have worked in eatery before and I have moved forward. |
Re: How Much Does It Take To Start A Restaurant by oyin01(m): 2:20pm On May 20, 2015 |
bedfordng:Not totally true |
Re: How Much Does It Take To Start A Restaurant by fpeter(f): 2:26pm On May 20, 2015 |
1 Like |
Re: How Much Does It Take To Start A Restaurant by mashnino(m): 2:32pm On May 20, 2015 |
fpeter: hahahaha... you have been brother-zoned |
Re: How Much Does It Take To Start A Restaurant by mashnino(m): 2:33pm On May 20, 2015 |
njays24: wooww... you dey cook everything na... ehen please... i am scared of food wastage..how do you handle that..? |
Re: How Much Does It Take To Start A Restaurant by Yesinde(f): 2:33pm On May 20, 2015 |
bedfordng:gbam! And it's nt even expensive... |
Re: How Much Does It Take To Start A Restaurant by 19naia(m): 2:41pm On May 20, 2015 |
With food, it is always good to determine that you have a food recipe that is customer tested before you invest big capital into it.. We need good and appealing food..With that said, if you sit by the road side on a wooden bench and table with a few buckets and pots, selling good food, customers will return if it is quality and good price.. How mch do these road side sellers spend to start up simple food stops? If your food can survive the most basic set up like a road side seller, then it will survive further investment with a furnished location for a kitchen, seating tables and employees.. Just be sure your menu recipe comes first with gusto and with hygenic practices to support it.. After that, you can make it anywhere even on the road side in the open air.. 5 Likes 2 Shares |
Re: How Much Does It Take To Start A Restaurant by Nobody: 2:42pm On May 20, 2015 |
mashnino:We calculate and measure whenever we cook. Its not as if there won't be wastage at all,we sell some of our wastages to dog owners. 1 Like |
Re: How Much Does It Take To Start A Restaurant by mashnino(m): 2:49pm On May 20, 2015 |
njays24: hmmm...seems to me there is never a waste particularly.. But will it b a bad idea if i give my leftover for the previous day to this homeless children that roam the street? More of like giving back to the needy..ofcourse the food will be warmed and giving to them in good condition although the children are not well kept...those that are well aquainted with the north know what i am talking about... 1 Like |
Re: How Much Does It Take To Start A Restaurant by Nobody: 2:56pm On May 20, 2015 |
[quote author=mashnino post=33925902] hmmm...seems to me there is never a waste particularly.. But will it b a bad idea if i give my leftover for the previous day to this homeless children that roam the street? More of like giving back to the needy..ofcourse the food will be warmed and giving to them in good condition although the children are not well kept...those that are well aquainted with the north know what i am talking about...[/quoteThat particular job of giving to charity is my mothers job. She has taken it upon herself to give to the orphage homes. She takes raw foods,provisions and sometimes cash to them once in a month. But we don't give leftovers to anyone. |
Re: How Much Does It Take To Start A Restaurant by mashnino(m): 2:58pm On May 20, 2015 |
[quote author=njays24 post=33926135][/quote] Thanks..you have been very helpful.... and if by God's grace i get this thing up and running and all goes well... A dinner is coming your way...lol |
Re: How Much Does It Take To Start A Restaurant by Nobody: 2:59pm On May 20, 2015 |
In my own honest opinion; having ran a business myself, i would say even if you have all the money in the world, any business you want to start, start small first. Test the waters. It is very important. Don't throw in all your money at once into it yet. The location itself will determine the kind of food people in that area will be eating. It is very easy to lie down and imagine all the money that you will be expecting to coming into your hands. Its not that easy. Restaurant business is stressful! You have to be there present to run it by yourself. It is a business that is very easy for staff to steal from you. If you send them to market they can pocket some money on the side from the market list. Even while making sales the staff can equally cheat you. So you really have to 'bring your eyes down'. I am not wishing you bad at all but i gave this same advice to a friend of mine months back when she was starting hers. She was hardly there. Her staff ran it down. They was a lot of stealing going on and she couldn't detect it. It was not funny when she discovered that she was making sales by the high number of customers trouping in but at the end of the day she still had to borrow to keep buying foodstuff and fuel for the generator. Like my friend did you can pick some stuff from your home first, like generator, freezer, cooking utensils, etc. While testing the waters then you begin to find out what your customers really want on the menu. People begin to know you. Then you go through your daily sales record religiously. Know how much you are spending / putting in and how much you are actually getting as profit. If you find it encouraging then from there you start to expand. When you begin to expand you can now buy all the fancy furniture and other nice things you wanted to bring in at first. IMHO 600k is okay to start (shop rent inclusive) as capital. 6 Likes |
Re: How Much Does It Take To Start A Restaurant by Nobody: 3:09pm On May 20, 2015 |
mashnino:You're welcome it's my pleasure. |
Re: How Much Does It Take To Start A Restaurant by mashnino(m): 3:18pm On May 20, 2015 |
crowns2: Now that's very scary... That's why i want to make most of the transactions cashless... Getting a POS is my number one priority ooo... I am a graduate of Computer Science, so i think i know some ways to curb some of these loop holes with tech... But mehn... this your post is really scary..but at the end of the day.. it will add to experience.. Thanks for dropping by...i really appreciate 1 Like |
Re: How Much Does It Take To Start A Restaurant by Originalsly: 3:20pm On May 20, 2015 |
bedfordng:This piece of advice is the most important. If you open your unregistered restaurant...with your big green and white neon sign. .....,,...... M A S H N I N O 's finger licking R E S T A U R A N T.... and your joint becomes the talk of the town and the place to eat ...yes, I can register the exact name.... build my restaurant to look exactly like yours .... sue you ...shut you down.....and guess whrere your clientele would always come to eat?.....while you be preaching lamentations?....and trying to build another brand?...if HBP doesn't send you express back to the dust. |
Re: How Much Does It Take To Start A Restaurant by jta2012(m): 3:24pm On May 20, 2015 |
Thanks ,it depends on your budget ,while an ambitious budget could go as high as N5M while a modest one could go as low as N1m all depend on u and the environment of the biz. |
Re: How Much Does It Take To Start A Restaurant by mashnino(m): 3:25pm On May 20, 2015 |
njays24: ehen..please do you know the name of this touch screen monitors they use in fast food it is always attached to a receipt printer... the attendant selects the food the customer wants to buy and then the thing generates the amount and prints the receipt |
Re: How Much Does It Take To Start A Restaurant by Nobody: 4:01pm On May 20, 2015 |
mashnino:That's the receipt machine. |
Re: How Much Does It Take To Start A Restaurant by bedfordng(m): 6:48pm On May 20, 2015 |
oyin01:ok |
Re: How Much Does It Take To Start A Restaurant by beylinko(m): 1:41pm On May 21, 2015 |
If starting up any business is no child 's play, then setting up restaurant business isn't what anyone can venture into.From the outside, everyone desire to own one but how many dare pay the price required ? If you want to start a restaurant bizness, the first thing you need is not money, neither is it a good location or the equipment. What you need is PASSION! It is the passion that keeps you going when things are tough, when customers refuse to show up even when your food is good and this passion is what propels you to go through the stage of little Beginning into something great. I started a restaurant business precisely a year and 2 months ago and glory be to God it has grown into close to a million naira worth of business. Time will not permit me to really highlight many other things and I will try n do that lata. Try and get your passion right and asked yourself if this is what you really want 2 Likes |
Re: How Much Does It Take To Start A Restaurant by emilyone(f): 2:30pm On May 21, 2015 |
beylinko: Pls how much did you start with? |
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