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How Profitable Is Eatery Business? - Business (3) - Nairaland

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Re: How Profitable Is Eatery Business? by Reference(m): 9:24am On Nov 26, 2019
Flakky26:


Thanks. It will definitely be an Air conditioned place with colourful chairs and tables. and dstv/flat screen tv.



Not necessary. You are selling food not cold air. It is a restaurant not a cinema. Focus or fail.

2 Likes

Re: How Profitable Is Eatery Business? by Reference(m): 9:28am On Nov 26, 2019
Flakky26:

Thanks ,i will definitely hire a cook and waiters . because i wont be there full time.



You won't be there full time? So you are what then?.... an investor or owner.... passion or just profits.... success or just another has been... your choice. But know that nothing worth while can be done part-time. You will not be able to engage the forces of excellence because you will be occupied with running battles just to stay afloat. Your business will be crafted in the image of whoever is in charge.... and you will not like it.... guaranteed.

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Re: How Profitable Is Eatery Business? by Flakky26(f): 9:30am On Nov 26, 2019
how do i achieve a strong internal control of sales and profit becos i wont be there all the time. will cctv be enough or which accounting system can i put in place? pls advise ,big thanks

Kobicove:


Eatery business is always profitable especially if you choose a good location with a lot of pedestrian traffic.

Just make sure your internal control is strong otherwise your staff will steal you blind!
Re: How Profitable Is Eatery Business? by DaddyMorenike: 9:30am On Nov 26, 2019
Very profitable. If customers no finish the food for the day, you eat the remaining. It's a win win.
Re: How Profitable Is Eatery Business? by Flakky26(f): 9:34am On Nov 26, 2019
do you also run an eatery in Abuja? if yes ,i am looking for an eatery i can come and understudy before i venture fully in to the business. thanks

Topmaike007:
In as much you're in Abuja and you want to start eatery biz let me just welcome you to the millionaire club
Re: How Profitable Is Eatery Business? by Topmaike007(m): 9:38am On Nov 26, 2019
Flakky26:

do you also run an eatery in Abuja? if yes ,i am looking for an eatery i can come and understudy before i venture fully in to the business. thanks

not at all I am in Lagos and my sister own one in lasgidi, due to high turnover she is now a landlady

1 Like

Re: How Profitable Is Eatery Business? by VeeVeeMyLuv(m): 9:54am On Nov 26, 2019
Flakky26:

Thanks ,i will definitely hire a cook and waiters . because i wont be there full time.


U are welcome,

Another work for u to do. The present situation in the country has made an increasing number of people to be incapable of distinguishing right from wrong.

Endeavor to get quality trustworthy and reliable workers, train them regularly on different aspects of the business so they will always give you the level of performance you expect from them since you might not always be available.
Re: How Profitable Is Eatery Business? by Nobody: 10:39am On Nov 26, 2019
Flakky26:

What kind of menu should i start with? Should i start with snacks first or snacks and food at the same time ?


it depends on your financial strength, if you have the financial muscle, what you will do is firstly start with food (rice,plantain, salad, moi moi, soup like two different types), have a good fridge for shilling of water and drinks, make sure the setting is a middle class at least.
if you are selling, you wont even have time for snacks. The recipe is key AND YOU NEED PROFESSIONALS FOR THAT. Hope this helps
Re: How Profitable Is Eatery Business? by zolapower: 10:44am On Nov 26, 2019
Flakky26:
I am thinking of starting an eatery on a low budget in my area in abuja. There is nothing like that in the area. The area is busy and has lots of traffic. The place will be a cool place where people can come in and take snacks and drinks. i am thinking of renting and joining 2 shops to achieve this with transparent glass and tv.

I look forward to hearing from you guys. Is it profitable and what are the challenges?

You can hire me to helping you . I'm a pastry chef and I have worked in reputable earth on lagos for all your pastries consult me ,I work at the eatry for 10 yrs and also has experience in auditing . So dm and let's talk
Re: How Profitable Is Eatery Business? by zolapower: 10:58am On Nov 26, 2019
Flakky26:


Thanks. It will definitely be an Air conditioned place with colourful chairs and tables. and dstv/flat screen tv.



Madam please do not let anyone confuse you , you need all that during the heat period in the north fah? I work with a popular eatry in Lagos and I will tell you that I know the intricacies in the fast food . Including control ,I can mention d eatry cus I was paid to advertise dem . But be rest assured if u partner with me you will never regret it that is if u are honestly as well . Dem me lets talk ,pastry ,fried rice ,jollof and africans are like guguru and epa to me . I also know control , I did 3 years in the audit and 7 years in d pastry department
Re: How Profitable Is Eatery Business? by Nobody: 10:58am On Nov 26, 2019
Very stressful? Yes. Lucrative? Yes but highly profitable if you get yourself a good location and ready to deliver a good quality of food.
Re: How Profitable Is Eatery Business? by nevplus(m): 11:17am On Nov 26, 2019
Very lucrative if you arrange it well, contact me to teach you how to do snacks,fried rice , delicious Igbo soup like oha,nsala,bitter leaf etc both local and continental dishes as well
as to put the place in order.it is my field ,trust me 08063992969
Re: How Profitable Is Eatery Business? by BarrSly: 12:35pm On Nov 26, 2019
Flakky26:
I am thinking of starting an eatery on a low budget in my area in abuja. There is nothing like that in the area. The area is busy and has lots of traffic. The place will be a cool place where people can come in and take snacks and drinks. i am thinking of renting and joining 2 shops to achieve this with transparent glass and tv.

I look forward to hearing from you guys. Is it profitable and what are the challenges?

Follow this tips
1.
Start it up cause there’s no harm in trial and from your statement above you seem to have done your market survey real good.

2.
Try giving your restaurant and attractive name THAT CUSTOMERS CAN ALWAYS REMEMBER AT THE TIP OF THEIR TONGUE.

3.
Get the restaurant listed on google map it’s pretty simple (inbox me if you don’t know how n I’ll do it for free for you it doesn’t cost anything and doesn’t waste time).

4.
Try linking up with online food delivery services so they can help you deliver your meal to customers at home and offices that way you don’t only rely on people who come in to eat physically but you are rest assured that if you don’t get customers physically you’ll also get some via online food delivery.

5.
Have fun!!!!! And also DON’T SELL ON CREDIT NOT EVEN TO YOUR OWN MOTHER LOL OK you can give dash her food don’t say you’re selling it on credit.

1 Like

Re: How Profitable Is Eatery Business? by Nobody: 1:19pm On Nov 26, 2019
Flakky26:

What kind of menu should i start with? Should i start with snacks first or snacks and food at the same time ?

word of wisdom : don't announce your location of the business here, some people might hijack ur business, some already have the capital, they will swing into ur location before u blink eye, u just wake up to find eatery there, be careful.
Re: How Profitable Is Eatery Business? by Flakky26(f): 1:29pm On Nov 26, 2019
Thanks so much . pls can u help suggest a catchy name.


BarrSly:


Follow this tips
1.
Start it up cause there’s no harm in trial and from your statement above you seem to have done your market survey real good.

2.
Try giving your restaurant and attractive name THAT CUSTOMERS CAN ALWAYS REMEMBER AT THE TIP OF THEIR TONGUE.

3.
Get the restaurant listed on google map it’s pretty simple (inbox me if you don’t know how n I’ll do it for free for you it doesn’t cost anything and doesn’t waste time).

4.
Try linking up with online food delivery services so they can help you deliver your meal to customers at home and offices that way you don’t only rely on people who come in to eat physically but you are rest assured that if you don’t get customers physically you’ll also get some via online food delivery.

5.
Have fun!!!!! And also DON’T SELL ON CREDIT NOT EVEN TO YOUR OWN MOTHER LOL OK you can give dash her food don’t say you’re selling it on credit.
Re: How Profitable Is Eatery Business? by Originalsly: 2:24pm On Nov 26, 2019
Low Budget.... renting and joining two shops..... glass...TV.... how many millions do you consider to be low budget?
Re: How Profitable Is Eatery Business? by boiz2men(m): 3:46pm On Nov 26, 2019
Flakky26:
I am thinking of starting an eatery on a low budget in my area in abuja. There is nothing like that in the area. The area is busy and has lots of traffic. The place will be a cool place where people can come in and take snacks and drinks. i am thinking of renting and joining 2 shops to achieve this with transparent glass and tv.

I look forward to hearing from you guys. Is it profitable and what are the challenges?

Why abuja? Why not Lagos?
Re: How Profitable Is Eatery Business? by lukui: 4:48pm On Nov 26, 2019
Most of them usually break even


But something is better than nothing sha!!!
Re: How Profitable Is Eatery Business? by ayo84(m): 4:55pm On Nov 26, 2019
A lot of them are just status symbols and are not ready to lower their prices. I prefer an Airbnb business combined with an outdoor restaurant and lower food prices for rakeaway. I may not even serve rice or beans. These foods have been compromised. If i was going to run a restaurant in Nigeria i will try and apply for halal or kosher food status. A lot of eateries in Nigeria do some of the most morally despicable things. Then a section fpr vegetarians is a must. I would love everyone coming to my restaurant to be nutritionally fortified that will help them overcome their health challenges
Re: How Profitable Is Eatery Business? by ayo84(m): 4:57pm On Nov 26, 2019
lukui:
Most of them usually break even


But something is better than nothing sha!!!

A lot of eateries in lagos are empty, no sales, no visible customers but how they afford to pay their staff baffles me though. Seems its like a different kind of economy some people are running
Re: How Profitable Is Eatery Business? by BarrSly: 4:58pm On Nov 26, 2019
Flakky26:
Thanks so much . pls can u help suggest a catchy name.



lol ok I’ll try thinking up something but then again it’s your own business venture so I know you’ll come up with just the perfect idea.
Re: How Profitable Is Eatery Business? by ayo84(m): 4:59pm On Nov 26, 2019
Flakky26:

how do i achieve a strong internal control of sales and profit becos i wont be there all the time. will cctv be enough or which accounting system can i put in place? pls advise ,big thanks


You don't need anything complicated. Just a small mobile app and manual book keeping will do. Hidden cameras are just a way to monitor staff most staff are usually the downfall of most restaurants. Female staff selling themselves like prostitutes and so on. If you have a good incentive welfare programme for staff they might be loyal
Re: How Profitable Is Eatery Business? by ayo84(m): 5:00pm On Nov 26, 2019
zolapower:


Madam please do not let anyone confuse you , you need all that during the heat period in the north fah? I work with a popular eatry in Lagos and I will tell you that I know the intricacies in the fast food . Including control ,I can mention d eatry cus I was paid to advertise dem . But be rest assured if u partner with me you will never regret it that is if u are honestly as well . Dem me lets talk ,pastry ,fried rice ,jollof and africans are like guguru and epa to me . I also know control , I did 3 years in the audit and 7 years in d pastry department

Is it possible to try out something more nutritional than rice,rice
Re: How Profitable Is Eatery Business? by leketon: 5:02pm On Nov 26, 2019
OP all eateries are now setting up a bakery inside the eatery.
You need to add hot&fresh bread to stand the low patronage eateries are experiencing now.
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Re: How Profitable Is Eatery Business? by sharone21(f): 5:50pm On Nov 26, 2019
Do add FOOD/CAKES etc on wheels service too and catering for weddings/parties.
Re: How Profitable Is Eatery Business? by ultron12345: 6:45pm On Nov 26, 2019
Flakky26:
I am thinking of starting an eatery on a low budget in my area in abuja. There is nothing like that in the area. The area is busy and has lots of traffic. The place will be a cool place where people can come in and take snacks and drinks. i am thinking of renting and joining 2 shops to achieve this with transparent glass and tv.

I look forward to hearing from you guys. Is it profitable and what are the challenges?

From my experience, fraudulent staff are usually the downfall of such businesses, especially when you're not always around. Nigerian staff are what kill most Nigerian businesses. Trust no-one, not even family members. Most times, family members and relatives tend to be the worst. Know that these your staff most likely believe in the silly wicked Nigerian saying that : na where person dey work, na there e dey chop, na e make dem dey callam workshop (work-chop)

If you're going to be there permanently, then good, but if you're not going to be there always, before you start this business, know how you will handle your staff. Put all needed internal controls in place.

Ensure division of labour. An entire transaction should never pass through just one person, it should be broken up. One person collects the money, another person issues receipt, another person serves the food. Each person will have their own individual records. If the records tally at the end of the day, good. If they don't, then you know something fraud is going on.

If you're buying a bag of rice, know how many plates you will get from it. If you're buying 25ltr kegs of oil, know precisely how many pots of stew it will be enough for. Know how many pieces of fried meat you get per KG. Or else, your staff will just be stealing almost half of everything you're buying while you'll be thinking that buhari is the cause for low revenue.

Show no mercy. Once anyone is caught in fraud, use police to give them trouble at the workplace where all other staff can see and then sack them. When other staff see how you dealt mercilessly with their previous colleague who stole, they too will become scared and reluctant to steal. If you forgive theives, it will embolden other staff to engage in the act.

Sometimes, tell your staff that you'll be traveling for few days. Then just appear unannounced while you're supposed to be away. You'll get a glimpse of what they do while away.

If possible, use some friends and relatives as spies. Let them be going there unnoticed to give an estimate of the number of customers. Let them make strange recognizable orders. For example, let them order 3 plates of rice without any meat. When you go through the records later that day, and the strange order is seen recorded properly "3 plates of rice without any meat" and the 3 pieces of meat are still remaining in the pot, then you know your staff are honest. But if the staff add the 3 meat while recording and the 3 meat are also missing from the pot, then know your staff are criminals.

Once again, trust no-one. Be particularly wary of the over religious ones, those ones that will add pastor and deaconess in front of their names. Trust absolutely no-one.

Grow your business to the level where you can afford to put an Indian in charge, probably after 2 or 3 years. They are not that expensive. Their pay might look much, but they are very honest (I have personal experience with this as a business owner) and you can focus your mind on other things while being that assured your business is being run smoothly and not being stolen dry by any Nigerian staff. You'll even be surprised your staff were already stealing more than the money the Indian manager will take as salary.

The reason Nigerian staff complain about Indians bosses is because they are honest and hardworking with strong work-ethic, and they don't allow their staff to lazy around or engage in the fraudulent activities they we Nigerians see as normal and love to engage in (while justifying their theft with the adage: na where person dey work, na there e dey chop, na e make dem dey callam work-chop).

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Re: How Profitable Is Eatery Business? by VeeVeeMyLuv(m): 7:11pm On Nov 26, 2019
ultron12345:


believe in the silly wicked Nigerian saying this business, know how you will handle your staff. Put all needed internal controls in place.



If


The reason Nigerian staff complain about where person dey work, na there e dey chop, na e make dem dey callam work-chop).
you are very correct, this reckless attitude has led to the collapse of not just small and medium scale enterprises but also conglomerates even public/govt organizations are not left.
Most of them thought that due to their big size nothing will ever happen, they cannot collapse. But when it eventually happens, it becomes like a movie before their very eyes
Re: How Profitable Is Eatery Business? by Juliusobi(m): 7:59pm On Nov 26, 2019
Well it's very profitable but depending on how much ur willing to invest in, the size, labor, recipe and equipment.

I'm an accountant to a fast rising eastry in d East. U can Dm for more info and partnership..

08132599784
Re: How Profitable Is Eatery Business? by Flakky26(f): 10:12pm On Nov 26, 2019
Juliusobi:
Well it's very profitable but depending on how much ur willing to invest in, the size, labor, recipe and equipment.

I'm an accountant to a fast rising eastry in d East. U can Dm for more info and partnership..

08132599784

Thanks
Re: How Profitable Is Eatery Business? by tck2000(m): 9:13pm On Nov 27, 2019
realestniggah:
Invest, there are lot of money and profits to be made from restaurants business

But I will advise you not to be fancy.. Have a mama put kinda setting to bring customers in and have local food.
Apt
Re: How Profitable Is Eatery Business? by tck2000(m): 9:13pm On Nov 27, 2019
realestniggah:
Invest, there are lot of money and profits to be made from restaurants business

But I will advise you not to be fancy.. Have a mama put kinda setting to bring customers in and have local food.

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