Branding Your Restaurant

HospiBuz Desk 

The food industry, which is evaluated at $39.71 billion, is prophesied to progress at a Compounded Annual Growth Rate (CAGR) of 11 per cent to $65.4 billion by 2018. Food and grocery estimate for around 31 per cent of India’s expenditure basket.

The Indian food processing industry accounts for 32 per cent of the country’s total food market, one of the largest industries in India and is listed fifth in terms of production, consumption, export and expected growth.

It fulfils around 14 per cent of manufacturing Gross Domestic Product (GDP), 13 per cent of India’s exports and approx six per cent of total industrial investment. The Indian foodservice industry is contemplated to reach $78 billion by 2018. The Indian gourmet food market is at present valued at $1.3 billion and is expanding at a Compound Annual Growth Rate (CAGR) of 20 per cent. India’s organic food market is foreseen to increase by three times by 2020.

The Confederation of Indian Industry (CII) measures that the food processing sectors have the capability to captivate as much as US$ 33 billion of investment over the next 10 years and also to creates employment of nine million person-days.

Coming up with a restaurant is not a creampuff but the most painful part of this business is to be in the game, for which it is important to build the restaurant brand:

Define Your Restaurant Brand:

India is a home for foodies, which is one of the reasons why the number of restaurants, fast food corners and production of food products are multiplying themselves on a daily basis.

Thus to stand out in the crowd, it is important to define your restaurant brand and to define that one needs to answer some vital questions before going forward:

Who are you?

What are you doing?

Why are you doing it?

In precise, keep your unique selling point (USP) crystal clear in your head. These answers will assist you in estimating out the primary idea of starting the business in the first place and will even push you in putting attempts to build the brand.

Brand Positioning:

There is a mixture of four aspects that draw revenue for the brand and they are Product, Price, Place and Promotion.

Brand positioning assists in directing and narrowing down brand awareness to the target audience.

It will answer a number of problems such as identifying the key partners, who will benefit in the investments, key activities, on how to step ahead, determining value positioning, relationship with customers, key resources, distribution channels, cost structure and revenue stream.

Reports seem to indicate that Indian consumers appear to be patronising Italian cuisine the most, swallowing down pizzas and pasta. Chinese comes next and is largely fuelled by young consumers aged 14-45 years.

Get Technologically Connected:

The technological bug has attacked everybody and if you still live in that old school thought balloon, of advertising or marketing on newspapers and radio ads, then it’s a time to explode hit on the social media for promotions.

Social media alone has produced many restaurateurs, food bloggers, chefs, who have become an online celebrity.

Internet and technology generate convenience, so take advantage of it to create the kind of space people look forward to returning to. Watch at your market and ask yourself what kind of conveniences technology your brand can submit.

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