I am running an eatery (Kerala Food Express) in Vashi, Navimumbai since September 2015. Still running in loss, but i DO NOT WANT TO GIV UP. i HAVE A GOOD COOK N THE FOOD IS WELL APPRECIATED. i AM WORKING ALSO, AS NUSING SUPERVISOR IN A HOSPITAL IN VASHI AND AM 62 YRS OLD more
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Dear Ms Kanaka Nair, I can only agree more to some of the comments raised here on your passion an sprit for this venture that has been expressed here. But I disagree with almost all other comments. Though I wish you to succeed and make money in this business, I suggest you to make some serious thinking and do a course correction immediately. I saw some of the photos of your establishment and also your product offering - your menu, in the web. From what I saw from a distance, let me try to dissect your business. You offer low-cost, fast food of a particular flavor - Kerala style. Your clientele is mostly persons employed nearby, bachelors etc. You offer very basic ambience and some take-away services. The shop front is definitely of the ordinary kind. Apart from the cook and maybe one or two employees, probably you have a family member at the cash desk. In essence your value proposition is tasty, but cheap food of Kerala flavour. Your customers are ordinary working people, a small sub-sect who are probably Keralite workers looking for a quick lunch or snack. Probably lunch time could be busy; some breakfast and evening snack could go. But late evening and holidays could be slow on business. There is no chance for a big family and casual customers. Perhaps their is an opportunity for this limited service, but this is not enough to bring in money. Whatever your initial guesses were in doing a sustainable business has not held true. You should pause and think of doing what start-ups call a “pivot”. You should immediately change the direction and the way you are doing this business. I cannot specifically say what that change should be, but in a general way it will be a reworking of your product offering i.e., the menu. Also you should rework your growth proposition, i.e., how you can get more customers. You work at the lowest end of restaurant business where margins are very low and completion very high. It is incorrect to say that hotel business is always profitable. In my experience it is mostly difficult to have a profitable business in such a low-end, highly competitive market. Profit can be assured only where you can rise above the general competition and offer something others can’t easily offer. You can’t probably offer a price differentiation with the current clients, as you are at the bottom in prices. Probably changing customer segmentation, and bringing in more channels like catering or home delivery etc can help. You can also try lower or higher prices with a newer customer profile. You can improve the shop ambience, but some capital will be needed - so you can try other types of pivots before putting in more money. This is definitely not a marketing problem. It is also not a management or income issue (inflow/outflow). The problem is simple - you have not reached a point of a perfect market-product fit. As I and some others said, your passion for the business is the most important aspect, which will help you in finding the correct course change. Please do that without loosing more time - maybe in the next two or three weeks itself. more
Apr 10
I think you have to do marketing in right way .like you have to give some special offer for youngster group.and you can also go for marketing in colleges. and main think be positive for your work evry thing is going positive. more
Mar 30
dear mr. kanaka, since you are not at the place of business due to your job, you need to have some system checks. there is a chance that sale is not booked properly, the consumption needs to be checked daily.certain check points will help you manage your business better. we can have a discussion if you wish . my no is 9423011337 more
Mar 27
Shocked to know you are in loss. This means daily stock keeping and inventory of all the items are not happening. Pls build control on what you buy (comes in) and what you sell (goes out) From day one you will be able to see profit... That's the challenge. There is no big theory on which you have to work. more
Mar 25
Hotel business is one in which entrepreneur will definitely make profit. Please look into the cost factor, the rates of competitive units and finalise your rates to cover and exceed your overheads comfortably. I feel that you may not be able to capture the market by sticking on to one type of food i.e, Kerala type in a different state. You may try to include other local products palatable to local citizens also. more
Mar 25