Our team at The India Watch has already explained how Gurgaon has become a hub for new business ventures. And how it has brought many opportunities for not just job seekers but people dreaming to live a good and sound lifestyle due to its social life. Talking about what business can survive the best in Gurgaon, as per our research and survey, it has to be a restaurant business where you can flourish like crazy in Gurgaon.
The city is one of the largest F&B market in the country. It is home to more than 14,000 F&B outlets, which include more than 5000 organized formats. The organized F&B in Gurgaon includes casual dining, fine dining, PBCL (pubs, bar, club, and lounge), cafes & ice cream parlors, QSRs, etc. In the formal and organized segment, format-wise casual dining holds the largest portion (64%) followed by QSR (15%). The informal segment includes local eateries & cafes, food outlets, food joints, carts, etc.
Despite the setback caused during the pandemic, the total restaurant sales have jumped by 49% in FY 22 backed by a recovering market.
The F&B industry in Gurgaon will continue to grow at a steady pace. Stemmed by higher per capita income, a growing gravitation towards organized modern retail, a culture of eating and dining, growth in international food franchises, and much more.
There is also a prominent mall culture in Gurgaon (~ 90 malls) and plenty of eat-cum-entertainment junctions such as sec-29, Bani Square, Vyapar Kendra, Cross point, Galleria market, DLF super mart (1&2), Arcadia market, Huda Markets, Cyber Hub, World Mark(s), etc.
Meanwhile, here are some of our suggestions that you can go with before planning to invest in a restaurant business.
Conceptualizing- Deciding on the concept of your restaurant can add up to many bonus points in your favour. Social media today is filled with pictures and videos of cafes and restaurants that have captivating interiors followed by a crazy theme they follow. Such things fascinate the generation today, and in the end, everyone, be it millennials or adults, like to go with what the new age is into. So, choose an innovative concept for your restaurant and see how just for the sake of exploring your restaurant gets a great footfall.
Your concept could be anything, a forest-themed fine dining restaurant serving Indian and continental meals or a Sicilian-styled café serving authentic Italian food. Or an authentic Udupi-styled tiffin house or a rustic dhaba serving the best delicacies from rural Punjab. Gurgaon is a robust and rustic market and it has takers for everything, as long as you believe in the concept and do justice.
Get Investors on Board- Thinking of standing your restaurant business all by yourself is appreciative but not a smart move to make. When investors come on board for business, you not only get minds to take favorable suggestions from, but a lot more. You get a set of people whom you can rely on and give responsibility during an emergency or so. Also, the investors will have many other contacts that will lead to the spread of the restaurant among their peers, resulting in traditional marketing at its peak.
Evaluate Every Cost- Starting a restaurant business is never an easy task. We need a lot of things to calculate before beginning to serve those scrumptious dishes to the table of your customers. Take every single cost into consideration, right from leasing or buying the space, cost of architecture/interiors, staff salary, crockery and kitchen equipment, marketing cost, plus many other surplus costs. Also, when you have all this sorted, you need to stay ahead of time, and must have a total revenue which should fall enough for the next six months in case your restaurant does not make enough during that time.
These and many other relevant factors can impact your restaurant business. And if you are planning to settle your business in Gurgaon, then sooner or later it will get all the hype it deserves. The city is such an overwhelming place to jazz, and people often look for places that are different from what they have been to already.
In a place like Gurgaon, if you plan to start a new venture, open a branch of an existing business, or plan to set up a retail venture, it is generally advisable to take support from research & business consulting companies such as The India Watch.
Always remember that Gurgaon is fraught with opportunities. However, it is a competitive market, and to succeed in such a market, it is always advisable to get access to valuable insights, information, and data.
Our team at The India Watch has done its research and knows what location, domain, infrastructure, etc., can suit your F&B business. Thus, we can be your business advisor for the best outcomes.
The Range of Services by The India Watch includes the following: