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Feasibility Study for Establishing a Restaurant

A Restaurant Establishment Feasibility Study

Making a feasibility study before making any business like a restaurant, a coffee shop or even a wedding planner office is very important because it could save costs. Doha is a promising city as well as the state of Qatar. The business here runs smoother than any other place. Opening a restaurant for oriental foods especially the Arabic, Lebanese, Egyptian, and Turkish foods. Qatar is one of these nations which urge people so as to begin their new business as indicated by the way of business environment in the nation which adapts by all methods with the achievement and advancement; notwithstanding the nation's objective of looking for giving the obliged wellsprings of force so as to issue them the chance of change toward oneself which may be reflected by way or an alternate upon the monetary, social, and budgetary side of the Qatari group.

A Business Idea of a Restaurant:

A large portion of the new organizations is connected with the needs and necessities of the clients for the distinctive items in which they have no options that supplant it by way or an alternate. Subsequently, the legislature of the nation bolsters the people and issues them the obliged legitimate papers, cash, and time with a specific end goal to encourage their accomplishment for these organizations as an approach to reflect with the constructive social, mechanical, and financial incomes upon the nation. There are various products, which must be existed and fluctuated additionally to meet the assortment in people's prerequisites and needs; notwithstanding make the obliged environment with a specific end goal to be reflected by the quality, which is normal, by the clients towards these needs and necessities.

Hence, there was the idea to start a business as a restaurant. Qatar enjoys a large number of expatriates who are coming from different places. This is to hint that the ability to grow in business especially in the fast foods facilities is very eligible for success and quick revenues. We are glad to introduce Al-Rayyan Fast Food as the latest and newest restaurant in Doha with only one branch. It is also considering expansion in many parts of Doha. If the success is our side, we would like to expand into other gulf countries like Kuwait, UAE, Bahrain and Saudi Arabia. Nobody can deny the fact that people here in Qatar knows the difference and the quality of each place. In particular, Qataris like to eat and dine away. From this point, it was the right decision to start this kind of business in Doha because, after a very detailed feasibility study, the restaurant idea was very sparkling and very encouraging to immense it.

Restaurant Business Description:

Al-Rayyan fast food restaurant is newly born facility in Doha for dining in and take away. The restaurant is providing unique services and good place to dine in as well as the fast and contemporary service of delivery. Since you are in Doha, you get to know that delivery process is taking a lot of time to deliver your food. However, with our services, you will be able to order your food and get it delivered by maximum 30 minutes in the neighboring areas. In the beginning, we will not be covering all Doha unless we open new branches.

Al-Rayyan restaurant is one of the newest fast food restaurants chains to open in Doha, Qatar. It will serve Arabic, Egyptian, Lebanese, Turkish and Italian food as well as eastern desserts. In order to be a successful restaurant and will be expanding in the future, it should offer unique services and good food as well that will make customers come back and to be special among all the competitors. Al-Rayyan has many rivals that seem to offer than same service and have been in the industry for several years so they fan their loyal customers. Al-Rayyan objective is to grow gradually by offering the best recipes and tastes of their foods. In addition, to create a fan base and loyal customers too is one of the main goals.

A Restaurant Business Objectives:

To start gradually and to maintain a successful way of growth, Al-Rayyan will have to provide the following things to their customers to publish awareness and to show their differentiation:

1. It is important to make sure the staff sell their products in a good packaging and maintain the highest standards of quality starting from the suppliers, chefs, food items to the waiters.

2. It should be worth mentioning that customer satisfaction is one of the most important things ever. It is also advised to keep your staff always smiling while serving their customers and it is the role of the management. Make sure your employees are in a good shape and in a good mood to start fresh their day and happily service the customers. Differentiate your staff from the competitors.

3. As a new fast food chain, as a management, you will need to create the brand and the image, as they are the two components that levels up any new business.

4. Making a brilliant, unique and specials menu as well as entertaining that will be very different from the rest of competitors.

5. Always focusing on the costs level to be well monitored in order to keep balance between expenses and revenues to measure the scale of growth; is it uprising or they declining due to large and open costs. This will be applied on all the parts of the restaurant.

Risks to Business Objectives:

Risks are the essence of any work. Every business is always in risk because the market is not the same every day. These days, markets are even faster in changes than before. The world finances became very dynamic. If you think you can resist the changes, you are mistaken and you will end up losing your job and business. In business, you get to learn that you have to bend for the waves of changes and accept them in order to survive.

The market here in Qatar is so promising. There are many challenges that appear from time to time and it worth mentioning that these risk factors are as follows

1. The huge number of fast foods restaurants in Doha is very terrifying for any new business. Just you need to have enough courage to start this kind of business. Working in a market where you are not the single service provider doubles the challenge for you as a business owner because you tend to provide the best service with the best prices. The competition in Qatar is very fierce because of the huge number of expatriates and they are coming from different countries. However, they also need to eat the most convenient foods according to their old experiences at home.

2. The demanding workload will always generate complaints of the working labors. It is necessary to be close to the staff because they are the one behind any failure of growth in your business. The increasing life demands and the limited wages of labors are not favored in such business. Your competitors will not wait until your raise their wages if they have the change to leave your place, they will definitely do it right away because it is an open market.

3. The increasing expenses of materials can be also a very demanding factor in achieving the target of providing the best services with the same exact prices. Your customer does not like the increasing prices from time to time. Considering the raise of materials expenses can be put into consideration before starting the business because it has to be offered in the same exact price every time. However, global changes of prices are also worth considering. By this time, you are not the only affected business in city. It will be for all.

4. The tastes are also another contributing factor because it will determine either your customer will return to you or they will just try you only one time. Your services have to be unique because you are asking your customers to return. Make sure you offer the best tastes.

5. It is very necessary to have enough capital when starting any business especially the fast foods. You can’t wait until you make revenues. You have to be working according to a plan

6. The restaurant’s inability to attract the desired percentage of customers; the risk which could be one of the most serious problems that could be met by the company’s management on both of social and financial level.

Controls to Manage Restaurant Risks:

As mentioned above, every business runs with specific tasks and risks. There are expectations you need to meet because it is necessary to work according to plan. Despite the smoothness of the tasks given, there are always chances to avoid the risks mentioned above. To make a detailed solutions and contingency plans, you have to be precise and accurate about your statistics. It is a must to be unique in order to maintain the variables between you and your second competitor. You are the boss of your own place. If you treat your customer with smile and decent way, he will return back to you because of the good prices, the quality of service and the customer experience he gets. Since you’re running your business, you have to be there during most of the time in the restaurant to manage the work yourself and set rules. Nobody will care about your business more than yourself.

As a second option, you have to be there for your staff in case of any complaints. Your staff have to feel they are well treated at work and always compensated in the limits and boundaries of your expenses circle. If the staff are satisfied, the customers will be delighted with your services because they will find decent smile when receiving their requests and delivering them.

Keeping enough stock of your materials and valid according to the health and safety regulation has to be maintained always because the market is changing from time to time and it’s worth mentioning that having a stable prices all the time is the best thing you can offer to your customer because he will be so upset if he found changes in the prices every time he goes into the place.

Be precise about the standards of service you’re offering and try to be an admired brand or restaurant. It is known for all that people love KFC because the place offer them a tasty and unique recipes chicken and rice meals. In your turn, you have to offer unique meals that are loveable and tasty no matter the recipe is. You have to make differentiation in the service you’re offering. This way you’re making new customers and loyal fans.

Having enough capital is a must since you’re starting a new business in town. You have to make sure about the expenses and the income variables in order to maintain a working financial plan for your restaurant. Everything has to be recorded and you have to be aware of everything spent to keep close eye. Otherwise, you better hire a specialist accountant who will keep records for all these things on your behalf.

Assessments of Risk Management Status:

Risk assessment is the procedure of dissecting a potential misfortunes from a given risk utilizing a mix of known data about the circumstance, learning about the basic process, and judgment about the data that is not known or well caught on. The methodology of consolidating a risk assessment with choices on the best way to address that risk is called risk management. Risk management is a piece of a bigger choice process that considers the specialized and social parts of the risk circumstance. Risk assessments are performed principally with the end goal of giving data and knowledge to the individuals who settle on choices about how that risk ought to be overseen. Judgment and qualities go into risk assessment in the connection of what methods one ought to use to dispassionately portray and assess risk. Judgment and qualities go into risk management in the connection of what is the best and socially satisfactory arrangement. Below are the ways how to assess the risks and how to manage it.

Audit Opinion of Each Control:

According the previous risks and how to solve them. There are some hints that has to be mentioned in order to keep smooth working place. The previous risk controlling and assessment methods are very effective while considering the new opening of the restaurant. However, soft opening is very needed to manage and assess all these working variables according to the risk provided above. This means it is worth trying the soft opening in order to sustain any collapses and faults.

When starting new business, you have to be aware of the targets and consequences of your business. In Al-Rayyan case, it is a fast food restaurant and this means there are some regulations and tasks that has to be mentioned in the context of risk management. The nature of business is also a common part because it will decide the usage and possibilities of the restaurant future according to the benefits and expenses as per each day. The variables and answers for the recommended risks which were specified above are measured by viewpoints like the way of business, the craved objectives of organization, the focused on classifications, and outside circumstances, and the examination of the proposed information about the business sector and clients other than the capacity of the organization in meeting the necessities and needs of the clients.

As I would see it, the organization can adapt to the business sector changes in light of the fact that it manages the right utilization of the assessment systems and strategies which are bolstered by the high gifted and qualified management so as to mirror the sufficient answers for the normal risks; and attempt its occurring in future. The embodiment of control procedure is spoken to making fair and compelling overviews and reports keeping in mind the end goal to get clients' fulfillment; the issue which is respected the quintessence of each and every controller. What's more, the organization's procedures of making budgetary plans are considered as extremely powerful venture to deal with the monetary challenges which must be happened typically.

Audit Summary and Conclusions of Risk Management:

By the end of the risk assessment task, it would be suitable to conclude that the above applied tasks can fit any business especially the fast foods restaurant in terms of the risks and avoidance. The mentioned techniques are enough to reduce of avoid any kind of risk. It is also quite fair to keep any percentage of the future risks. As it is known, the market is continuously changing and sometime it matters a lot to be awake and alert for any change in the future. Running the restaurant require huge focus especially on the customer satisfaction factors and the admiration levels.

Never underestimate the values and principles of being a unique and admired brand. If these steps are follow in the right way, you can rest assured about the revenues and results of the whole process. Qatar is a promising society and market. It has the factors of success and commitment. The audit process help in deciding the feasibility of the ongoing work. Also remind you how to maintain a good rapport with your employees because without them, your restaurant does not exist. The management is now the core of all businesses. Surveys and reports as well as questionnaires and observations are all ways of assessment and risk controlling channels in order to avoid any risk in the future.

A Feasibility Study for Establishing a Restaurant

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