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  

View all 7 comments Below 7 comments
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  
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  
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  
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  
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  
Post a Comment

Related Posts

    • Is India’s IT sector a ticking time bomb

      IT Index collapsed by 4% yesterday as it continues to struggle From 2 years ago: - Salary Hikes: 15% down to 5% - Revenue Growth: 19% down to 3% - Hiring: Down 60% - ...

      By Sneha Goyal
      /
    • Misuse of new criminal law can cause havoc for business owners/small companies

      New criminal laws come into effect from today. Here is one new law to be concerned about: ‘individuals who engage in sexual relations by deceit, such as false promises of employment or marria...

      By Sudesh Rai
      /
    • Layoffs everywhere

      Layoffs going on in full swing in IT sector! Daily 1-2 news coming in closed circles... crazy consolidation. Worser than 2000, 2002, 2008-2009 and 2015.

      By Vijaya Nair
      /
    • By Ajay Dutta
      /
    • GST number is designed to compromise your details

      Dumbest thing in GST is using PAN as GST number and Mandating displaying GST number in Sign Boards. So that everyone on street knows our PAN. PAN is used as password in income tax docume...

      By Vinay Sen
      /
    • Will many CAs may have to close soon

      Many CA, CS and CMA Professionals have to either change work or close their practice after this attached circular.

      By Ajay Dutta
      /
    • Google is a pathetic company

      Google India hiked the rate of business mail by 350 %. With fear of recession looming and when msme are struggling this is not the right thing to do. It will cost msme sector 5000 crore per year...

      By Vishal Khanna
      /
    • GST filing

      Still GST system is not 100 % user/official friendly. there are news that so much money (in lacs) collected by fraudulent GST bills. I am a GST registered vendor. The company turn over is almo...

      By Subramanian Venkataraman
      /
    • Taxation Issues faced by Startups: Inputs Sought

      Many of you know how LocalCircles had worked with the Government in 2019 on resolution of angel tax issues under Section 56 (2)(viib) of the Income Tax act. Once again, the Government h...

      By LocalCircles Manager
      /
    • Why no penalty an dprosecution for govt

      Now our IT portal has become sick being suffering babu virus or extortion virus. McA site never works on last days and people have to pay penalties for mistakes of govt. Now professionals are wasti...

      By SUBHASH PARAKH
      /
    • Income Tax Return Filing Portal

      What about income tax return filing date? Any extension thereof? As of today, I am not able to file the return . Has any one else file the income tax return? Has Portal issue been solved? I have al...

      By Hasmukh Sangani
      /
Share
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)