This business offers endless opportunities to budding entrepreneurs and restaurateurs who wish to make a mark in the restaurant business.
Ideas for small businesses in the Restaurant industry
A study by the apex industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM) shows that the Indian quick-service restaurant (QSR) market is growing at a compound annual growth rate (CAGR of) 25%. It is expected to reach Rs 25,000 crore by 2020, up from Rs 8,500.
It is predicted that 35% of India’sIndia’s population will live in urban areas by 2020, bringing the total population to 52 crores. This compares to India’sIndia’s current urban population of 34 million.
This business offers endless opportunities to budding entrepreneurs and restaurateurs who wish to make a mark in the restaurant industry.
These are some business ideas that can be used in the restaurant industry.
Technopak Advisors, a consulting firm, has reported that India’sIndia’s pre-organised cafe market grew sixfold in five years to $230 Million. It is expected to reach $410 million in 2017, with a compound annual growth rate of 13-14 per cent.
Cafes are a popular business idea that can help you make money in your country.
2. Food truck:
This is a new culture that has been adapted from the West and is making its way to India. India has seen small-scale hawkers and food push cars, where hygiene and food safety are a concern.
Food trucks will be introduced in India to provide more variety, hygiene, and delicious food. Food trucks are also very popular because doughnuts don’t stay the same, so customers are easy.
3. Cooking classes:
Half of the country’scountry’s population has been inspired to become a chef by the number of cooking reality shows.
You can take advantage of the opportunity to open a cooking class, either for women or children who want to become chefs in the future.
Low investments are a great way to spread your knowledge and make money.
Bakery products are now the main meal of the day. This business has seen a rise in popularity due to the variety of slices of bread and special occasions.
You can open a bakery without investing much and still make a profit.
The market will favour those who are skilled in baking cakes.
5. Catering services:
This is a popular service in the food industry as people often approach each other for small and large occasions and get-togethers.
Apart from the fact that people are constantly moving between cities to fulfil their demanding jobs, they also crave home-cooked food. This is where catering services can come in handy, especially those who supply in hostels, P.G.s, or office canteens.
This small investment company will be a huge success if it is connected with event planners and offices.
Opportunities don’tdon’t come knocking twice, so be ready to open the door if it is still opening. Take advantage of the chance to be part of the restaurant business.