05 Sep Journey from ideation to execution
Starting a food and beverage (F&B) business, whether it’s a restaurant, quick-service restaurant (QSR), kiosk or a bar, is an exciting but challenging journey. It involves several stages, each crucial for turning a concept into a prospering business. Let’s explore these stages through the hypothetical story of Priya, an aspiring entrepreneur, and how she navigated her way from ideation to execution with the help of CYK Hospitalities.
- Ideation: The Seed of a Business
The journey begins with an idea. For Priya, this came while traveling across Europe, where she fell in love with the concept of a gourmet sandwich bar. She noticed that while India has numerous sandwich shops, few offered the high-quality, artisanal experience she encountered abroad. Priya’s idea was to bring this concept to her hometown, offering a unique menu that emphasized fresh, locally sourced ingredients.
However, an idea alone isn’t enough. Priya needed to validate her concept. She started by conducting market research, identifying her target audience, and analyzing competitors. She also sought advice from CYK Hospitalities, who helped her refine her concept based on industry trends and customer preferences.
- Planning: Laying the Foundation
Once the idea was solidified, the next step was planning. This stage is where the dream begins to take shape on paper. Priya, with the help of CYK, created a detailed business plan that included financial projections, a marketing strategy, and a roadmap for growth. This plan also covered the type of establishment she wanted to open— either a QSR model for high foot traffic areas, a more extensive dine-in option, or a small kiosk in a busy mall.
Priya decided to start with a QSR to minimize initial costs while still reaching a broad audience. CYK helped her determine the ideal location, advised on branding, and even assisted in menu development to ensure her offerings stood out in a competitive market.
- Execution: Bringing the Vision to Life
Priya moved to the execution phase. This stage involves turning the business plan into reality—finding a location, setting up the kitchen, hiring staff, and launching marketing campaigns. For Priya, this meant securing a prime spot in a bustling commercial area and working with CYK to design a space that reflected her brand’s ethos—modern, inviting, and focused on quality.
CYK also assisted in the recruitment process, ensuring that Priya hired skilled staff who shared her passion for the concept. They further helped streamline operations by implementing efficient systems for inventory management, customer service, and point-of-sale operations.
- Launch: Opening the Doors
Finally, after months of hard work, it was time to launch. Priya’s gourmet sandwich bar opened with a soft launch, inviting friends, family and local influencers to experience her offerings. The feedback was convincingly positive, validating her concept and setting the stage for a grand opening.
CYK’s role didn’t end at the launch. They continued to support Priya by analyzing customer feedback, refining the menu, and suggesting promotional strategies to keep momentum going. They also helped her establish partnerships with local suppliers to maintain the quality and freshness of her ingredients.
- Growth: Scaling the Business
With a successful launch behind her, Priya began focusing on growth. This involved expanding her menu, exploring catering opportunities, and considering additional locations. CYK provided ongoing consulting, helping her navigate challenges and capitalize on new opportunities. They also assisted in developing a loyalty program to retain customers and attract new ones.
- Kitchen Audit: Ensuring Consistent Quality
Several months after her successful launch, Priya noticed a decline in sales. Concerned about the drop, she turned to CYK for advice. CYK recommended a thorough kitchen audit to assess the operations, quality control, and overall efficiency of the kitchen.
During the audit, CYK identified several issues that had been affecting the quality of the food, including inconsistencies in ingredient sourcing and lapses in staff training. They prepared a detailed report outlining the necessary changes, such as implementing stricter quality checks, retraining kitchen staff, and adjusting inventory management practices.
Priya’s journey from ideation to execution was filled with challenges, but with careful planning, strategic guidance from CYK, and a commitment to her vision, she turned her idea into a thriving F&B business.
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