Saturday, July 20, 2013

Trends in restaurant business:Fun leads this time



Once Agatha Christie said “when engaged in eating” the brain should be the servant of the stomach.” And our quote says If you can make this possible than enter into restaurant business.

Before going through the absolutely exciting and thrilling experience of running a restaurant business, be sure about the trends and issues in the field to make yourself stand tall.

Eating out is intimately associated with fun and love. Almost half of the Indian eat out regularly. Even if it might not be an immensely entertaining activity just yet. It is seen as way of reinforcing the needs to be socially active and connected .Increasingly food and entertainment are being brought together by Indian entrepreneurs.

The knowledge company report

  •   Cafe with library: the library bar-Leela palace kempinski, Bangalore, ego-Thai-new Delhi.
  •               Cafe with movie screening: The mocha film club
  •  Nam cafe with art gallery: kashi art cafe- cochin, le cafe de art coffee  shop-Hyderabad, monastery of art-boutique art cafe –Kolkata
  •               Sports bars: amoeba sports bar-Bangalore

         Move up with multi cuisine:
     
    With higher inclination towards “fun” and time with family and friends, and rising “individualism, quests in a specialty restaurant are restricted to order food from  just one cuisine. Hence “multi specialty” restaurants draw a balance by providing choice while maintaining a specialty theme or cuisine and offering wider options to the consumers. 

    Changing business model:
     
    External brands: hotels are bringing in restaurants under a management contract or lease to capitalize on a proven restaurant concept that generates substantial revenue by attracting hotel guests and local residents. Sagar Ratna and fbar at Ashoka hotel: Barista crème at the Lella palace Bangalore: cafe coffee day at ginger hotels are some of the examples.

    Sole proprietor restaurants:

    Popularity and brand value of certain restaurants with in a hotel enables them to become individual profit centers and move out of the hotels. They hence leverage by opening chain restaurants outside hotels. Some of the popular examples are the great kabab factory-originally at Radisson; ITC retailing Bukhara products.

    Front end and back end integration:

    With increased focus on productivity and efficiency level enhancement, companies are moving towards front end and back end integration. “Farm to fork” concept aims at minimizing the steps from the farmer to the final consumer. Retailers are in the process of establishing direct consumer points to enable a smooth transition of goods from the farm to the consumer and enhance brand value.
    We shall discuss about the impact of increasing food costs on the restaurant business very soon.