Sir, I want to establish a good resturant. How much initial investment do I require? What are the precautions do I need to take?

Ans: Best place to start a restaurant is where the footfall of your customers is very high. There are various choices u have - a veg vs non-veg, multi-cuisine, oriental or quick service restaurant. Investment also can range from a small size of a thousands to crores for a high-end restaurant. I will suggest you to meet 5 real restaurant owners to know more practical issues. Manpower will also depend on the type of restaurant - chefs, waiters, billing manager, sales/mktg/business development person, procurement head etc. This is after starting. Before starting, u may need architect, designers, contractors, legal consultants etc.

Ans: There would be two or three main things on which the investment would depend. First is rental deposit , which in mumbai is about 10-12 months. The second expense is fitouts and interiors. A basic store will cost about 1500 rs per sqft. Budget about a 1-1.5 lacs for basic kitchen equipment and crockery.

Ans: Can start your business in partnership with someone. In which case you can provide the expertise and the other person can run the business. But it should not be against the policies of the company you are working in. Also partner should be reliable. I had a relative who started a restaurant in a similar way where they kept it open in late evenings after his work hours.

Ans: It's great to hear that your son is planning to open a cafe. With his MBA knowledge and entrepreneurial spirit, he has a strong foundation to build a successful venture. Here are some steps to guide him.

First,
He must decide on a unique concept for the cafe that will set it apart from others. Whether it is a cozy space for book lovers, a health-focused menu, or a modern cafe with a tech-friendly vibe, having a clear vision will attract the right customers. Additionally, researching the market to understand customer preferences, competition, and pricing trends is important to create a viable business plan.

Encourage him to prepare a detailed business plan that includes his vision, projected budget, marketing strategy, and operational plans. Choosing the right location with good visibility and foot traffic will be crucial to the cafe's success. He will also need to obtain the necessary licenses and permits, such as food safety approval and business registration, to operate legally.

Next,
Focus should be on creating a strong brand identity with a memorable name, logo, and interior design. Offering high-quality ingredients and a menu with a mix of unique and popular items will help build a loyal customer base. Excellent customer service and a welcoming atmosphere will further enhance the visitor experience.

And the last,
He should leverage MBA skills to manage finances effectively and use digital marketing and social media to promote the cafe. With proper planning and dedication, cafe can become a thriving business.

Wishing her all the best in this exciting journey!