Entrepreneurship / F&B / Restaurant Business / Small Businesses / Starting A Restaurant

A Filipino’s Guide to Surviving the First Year of Restaurant Business

A Filipino’s Guide to Surviving the First Year of Restaurant Business

I belong to a group of pioneer restaurant owners. Although the restaurant landscape has changed since we entered it, it is still no easy task to open a restaurant and the first year is by far the hardest to survive. These are a few tips that we used to tide over our business in the first year.

According to a study by The Perry Group study most restaurants in the Philippines close during their first year of operation.

70% of those that make it past the first year close their doors in the next three to five years. 90% of the restaurants that are still operating past the five-year mark will stay in business for a minimum of 10 years.

So as a restaurant business owner, what can you do to reach that 90% group?

1. Think and Breathe Like an Entrepreneur

We believe that one thing that many restaurant owners forget is that they are essentially running a business. You should be able to pin point the losses and profits that each dish brings to your business because you are always looking for the potential to make the most money from a situation. This keeps your business alive and thriving so that you can continue bringing delicious dishes to your consumers.

2. Engage With Your Customers!
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