Ideas

[scorpios]

Hi guys,

First of all, I know this is not the first thread ever created here. I've been following the discussions in this forum and it helps broaden up my business knowledge. Well, here is my situation, graduated in 2008, worked as regular office job and quit not long ago. I've always wanted to run a business but not sure what's the secured prospective business in UK, especially London, however I'm so passion to have my own restaurant. I see that UK especially London have variety of foods e.g. chinese, thai, indian, mexican and etc. Would this kind of restaurant be a prospective business in the uk? Any of you guys have any experience in this field? Any comments, feedback or ideas are most welcomed.

Thank you.

 

[MOIC]

Any business category has potential to do well and be successful.

If your passion is to have a restaurant, my advice is to get a job in the restaurant that will accept you and start to learn the trade.

It maybe that you will start at the bottom.

But, that's the best place to start learning.

Best of luck

Ron

 

[Moneyman]

Sit down restaurants are big initial capital items, low expansion and high crash rate businesses. It takes years to get a successful business that can pay back the initial outlay.
I would do a little tour of some of the really booming trendy places. I would stick oxford or cambridge on the top. They are full of good new food outlets doing everything from brazilian cheeze balls to god knows what in a slab of bread. you can just have a chat to them and see how things are doing. It then takes a while to find out what works and improving the margins.
The real expansion entrepreneur side is little takeaways with a couple of seats. you can find them starting and stopping in every city. But if you find something that works then you can just expand at a rate of knots over the country. coffee, greggs, pasty, noodle bars etc.

 

[allenasmith]

You should go to the restaurant as a internee and learn all the recipes and and then you can open your own restaurant.

 

[MOIC]

Sit down restaurants are big initial capital items, low expansion and high crash rate businesses. It takes years to get a successful business that can pay back the initial outlay.
I would do a little tour of some of the really booming trendy places. I would stick oxford or cambridge on the top. They are full of good new food outlets doing everything from brazilian cheeze balls to god knows what in a slab of bread. you can just have a chat to them and see how things are doing. It then takes a while to find out what works and improving the margins.
The real expansion entrepreneur side is little takeaways with a couple of seats. you can find them starting and stopping in every city. But if you find something that works then you can just expand at a rate of knots over the country. coffee, greggs, pasty, noodle bars etc.

I'll second that.

 

[scorpios]

Thanks for the reply guys.

I have worked at the small thai restaurant before so I know a little bit of how it works. I had a thought of starting as a takeaway like moneyman suggested but again I'm still not sure what sort of food I should sell . Well, as I am an Indonesian I'd really like to introduce Indonesian food in the UK. There's one Indonesian restaurant in Soho already and it seems going well. But I still have a passion to have my own

Or should I start with a franchise takeaway? It'll have less risks I presume. Healthy foods?

 

[MOIC]

Thanks for the reply guys.

I have worked at the small thai restaurant before so I know a little bit of how it works. I had a thought of starting as a takeaway like moneyman suggested but again I'm still not sure what sort of food I should sell . Well, as I am an Indonesian I'd really like to introduce Indonesian food in the UK. There's one Indonesian restaurant in Soho already and it seems going well. But I still have a passion to have my own

Or should I start with a franchise takeaway? It'll have less risks I presume. Healthy foods?

Indonesian food sounds good to me, and its relatively new to the UK (It's delicious and would work well in the UK)

See if you can get a job at the place in Soho. Restaurants like to have native people working within the restaurants. It makes it more authentic.

Learn the ropes, start your career moving !

After a years experience, you should gain enough knowledge to get on the next rung of the ladder.

Start Small - Thing Big!

Best of luck

Ron

 

[s168]

Scorpios, I have many friends who have opened restaurants and other types of food businesses. It can take a lot of capital, but one thing for sure, it is a very competitive business with thin margins. You absolutely have to be different to get an edge in the marketplace.

Why don't you go to the owner of that Indonesian place in London and make a proposal to them? Work on a partnership of some sort where you expand and run a smaller branch for them at another location with a profit share, on the basis that you get their help, guidance and support (including financial costs when opening up).

The worst they can do is say "No". So long as you can come up with a deal that benefits both you and them, you stand a fair chance of succeeding.

 

[liongroup]

Passion or interest. Otherwise, it will be difficult (though not impossible) for you to both succeed and enjoy your work. Think of running a business as your life's work.

 

[sla3]

Research the failure rate. It's vast. In an era when folks' disposable income is severely reduced, luxuries such as eating out are early on the chopping block. Having said that, cheap quick food outlets might survive, by working 18/7 from low-rent premises with cheap business rates. A franchise might offer more chance of success, as they'll put the applicant through some kind of vetting process that might save the applicant from him/herself!