Are you a restaurant owner in Lagos who is finding it too difficult to make more profit? Or do you intent owning a restaurant in Lagos someday? Worry less because that’s apparently what I’ll be handling on this very content.
Running a restaurant business in Lagos is quite competitive and your ability of standing out in some definite ways will be the factor that’ll announce your business.
Normally, we all know and have been left with a believe that every business is competitive. Some business ventures could be very competitive than others (this simply means that some are less competitive, where some are very competitive).
The restaurant business is actually one of those businesses I could say or categorize under the high competitive business ventures especially in Lagos. This is practically so because it isn’t capital intensive. You can remotely start a restaurant business with less cash in Lagos expect it is other types of restaurant that are capital intensive (Fast Food, fine dining restaurant etc).
Almost in every corner of the road side, you’ll definitely see a restaurant. Most times you’ll see several restaurants in one junction, so close to each other. This is to tell you that the restaurant business is super competitive.
How Do Restaurant Owners Win This Competition?
As a restaurant owner, having known the competition magnitude of the business, will you choose to back-off? Is backing off the best thing to do?
I’ll highly recommend you base up instead of backing off. What I meant by that is, soar higher in the business. Fuel your hustle and efforts towards the growth of the business.
But come to think of it, after investing much effort to the business, will all these give you a satisfactory profit count? My answer is a capital letter NO. Adding more effort to the growth of your business isn’t gonna help anything.
The only factor that will improve your business profit is ‘’implementation of some growth hacks or business growth strategies. For you make more profit than others with your restaurant business, you’ll need to use some strategies.
There are strategies you can use to improve the profit of your restaurant business in Lagos. So on this very thread or content, I’ll be highlighting things Lagos restaurants needs to make profit.
5 Things Lagos Restaurants Needs To Make Profit
Cook Varieties Of Foods:
One of the things Lagos restaurants needs to make profit from is having more variety of foods in the food menu. This is a strategy majority of the restaurants in Lagos ignore. Don’t just have one type of food or maybe two types of food.
Instead of having only rice and beans, try adding fried and cooked plantain, eba, noodles and the rest of its sort.
Try Adding Soft Drinks:
You’ll find more restaurants that sale just food and sachet water only (this is so because they felt water should be taken after eating). But how about you adding some compliment like soft drinks?
Yeah soft drinks like, Pepsi, Smoove, zero cook etc to compliment the food. By doing so, you’ll stand the chance of selling more soft drinks whenever a customer buys food, because majority of the customer may likely need a liquid to properly dilute their meal. By so doing, you’ll see that your profit will start increasing.
Provide a Cooling System:
Don’t just give them sachet water or maybe soft drinks. Let them see the reason to pay for it. Majority of Lagos citizens (if not all), likes such liquid when they’re cooled or chilled. So give them a reason to pay for such liquids by cooling them.
Have a Menu List:
People will start taking your meal serious the moment they see some level of quality in what you do. Add a menu list, so they could see some level of packaging in your brand and all that. Yeah, this is actually one of the major problems of Lagos restaurants.
If you add a menu list, you’ve automatically added a value to your business and when your value goes up, you’ll make more profit.
Know What Your Customers Want:
You can’t sale snacks close to a mechanic workshop. Know what your targeted customers may need. Always take note of what they usually ask. Don’t always give them the answer ‘’WE DON’T HAVE IT’’ whenever they come to buy meal from your restaurant. Add that thing, that meal they always request for.
When you do this, no customer will leave your restaurant with the reason that you don’t have what they wanted.
The magnitude of your profits (in the restaurant business) solely depends on the strategies you implement. Don’t do a restaurant business that’ll only give you some peanuts at the end of the day. But rather make your income grow beyond boundaries.
Having gone through this content, hope you’ve been able to discover the necessary strategies you’ll definitely need in other to grow the profit of your restaurant business in Lagos.
Did you find this content interesting or perhaps motivating? Do you have any suggestion to render? Do you have any question to ask?
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