Starting any business can be quite hectic. There are business plans that have to be set up and be followed, there is the capital needed, and not to mention the target market, marketing strategy, and space needed to be rented.
Sounds like a lot, I know, but here is a simplified approach to starting a restaurant business.
How much does it cost to start a restaurant business in Uganda?
For a small-scale restaurant, one will need about 100,000 dollars. This is inclusive of the money required to rent, wages for the employees, Marketing costs, water and electricity supply costs, and all the necessary equipment for the restaurant.
To be able to grow with this amount, make sure you lay out a business plan and follow it. Be neat and cook nicely for even more profits.
Steps to start a restaurant business in Uganda
To start a successful business in Uganda, one has to do things and the necessary permits one has to acquire. Some of the steps are as below;
- The first step is to know the type of business you want to start and acquire a unique business name.
- The next step is to register your company with the Register Company and later be issued with the certificate of registration.
- Acquire all the necessary licenses from the Ministry of Health and Fire Department. This ensures the safety of your employees and your and the consumer’s safety, especially businesses that deal with food.
- Register with the local authorities to get a trading license or operating permits.
- For Tax, purposes register with the Uganda Revenue Authority. Once you register, you will be given a Tax Identification Number that will be like your account number.
Tips to start a restaurant business in Uganda
- Have a business plan that you will follow to the latter. It will help you manage your finances and not overspend.
- Advertise your business using posters and even on social media platforms. Tell your friends to tell other friends so that your business can grow.
- Study the strengths and weaknesses of other businesses in the same field as yours and get to know how they work with them.
- Look for a location with the target market. Urban places, near town centers, and shopping malls are some of the best places to start almost any business.
- Offer delivery service at a small fee to help your customers get their goods on time.
- Look for a supplier who offers goods at a cheaper price so that you can get massive profits. Also, look for one who offers quality goods.
The different types of restaurants
There are a lot of different restaurants that one can venture into, depending on the level of expertise. Here is a look at the restaurants;
- Fast food restaurants- this kind of restaurant requires speed, as the name suggests. It ranges from small scale to large scale.
- Quick service restaurants-they sell cheap food and are mainly found in the streets.
- Ethnic restaurants- As the name suggests, they serve food from a specific culture.
- Casual dining restaurants-customers can eat at their comfort.
- Fine dining restaurants-this are similar to high-class restaurants.
- Barbeque restaurant-the restaurant includes meat, chicken, and fish barbeque.
- Be neat and ensure you cook quality food.
Is the restaurant business profitable?
The restaurant business is very profitable, and on average, one can make 100 dollars per day.
The restaurant business is growing fast and flourishing in Uganda due to the high demand of locals and even tourists who would like to have a taste of African dishes.