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How to start your own hospitality business

04 march 201304 march 2013

I'm going to take a wild guess and say the reason you're on this page right now is you're either seriously thinking of starting your own restaurant or café, or at least curious about how to go about it.

Someone wise once said: it's one thing to be served food, but it's another to serve it. Sounds simple enough, right?

It's great going out to lovely restaurants and relishing in the whole dining experience, but when you're the one in charge it's a whole other ballgame.

So if you're a Master Chef nut, your dinners mimic My Kitchen Rules as you race the clock, or perhaps your beef rendang curry is legend – wait for it – dary among family and friends, you'll probably want to do a bit more research first.

*Cue reflection time*

So you're still with me? Good. Let's get cracking.

Feel nervous? No worries. Never worked in the industry before? No sweat.

An incredible 75% of three quarters of respondents from our 2012 Hospitality Industry Success Index report said they had no hospitality background experience! Thousands of accountants, teachers, nurses, butchers, farmers and child care minders have followed their food dream and left their trades behind to start up their own successful ventures.

And if they can do it, so can you. This proves it's never too late to change direction and follow your passion!

Despite the (copious amounts) of blood, sweat and tears that goes into setting up a business from scratch, the rewards can far outweigh the challenges. It can be challenging, scary and maybe even a little intimidating, but it can also be exciting, rewarding and exhilarating!

Most business owners will tell you the desire of being their own boss played a critical part in influencing their hospitality dream. And our research tells us that nearly half of people cited this as their number one reason! So if you have the drive and motivation, read on and we'll help to guide you through the process. After all, we've helped thousands of people for more than 26 years now.

CHEF'S TIP: The key to success is really in the planning stage.

The first rule is to remember that your venture is a business, and it's important to always look at it that way, otherwise you won't succeed.

Ultimately, you are a manufacturer.

You create your products (food and drinks, etc) out of raw materials (your ingredients) and then, sell them to your customers. However, the industry also has some stiff competition and it's important to remember that many others will be vying for your customers' loyalty and money too. Paying close attention to what you're competitors are doing will stand you in good stead when it comes to your business' own activities.

Check in next week to read about how to develop your business plan and help you get your ideas down on paper.
 


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