The Best Ways to Start Up a Fish and Chips Shop
The best ways to start up a fish and chips shop
The Australian fish and chips industry is well-positioned to benefit from two long-term food trends – the shifting preferences of diners towards internationally-inspired dining and casual dining options over more formal restaurants.
If you're tempted to throw your hook into this market, then here are some ways you can get started with your own fish and chips store:
1. Find a location
2. Estimate the number of potential customers
3. Understand your competitors
Find a location
This is certainly the most crucial factor to consider before starting your venture or investing in an existing fish and chips business for sale.
Understand your target market and compare various locations. Affluent areas may hold your ideal customer base if you want to offer a high-quality meal (triple-fried chips and a variety of fish options). If you want to provide a quick, inexpensive meal to your customers, your list of potential locations can be much longer.
Estimate the number of potential customers
The movement of people walking around your potential store location is crucial. More foot traffic near your store means more opportunities to increase sales and customer engagement. When looking to start your business, ensure that the area experiences excellent foot traffic.
Take note of the number of people walking by the store at lunch and in the evening. Understand the types of people who walk by the store. Are they office employees, shoppers, residents, or tourists?
Remember that areas with a high concentration of offices and factories may be busy during lunchtime but deserted in the evenings. In residential areas, the opposite may be true.
Understand your competitors
Competition is an unavoidable part of any business and a vital component of the business ecosystem. Understanding your competitors will assist you in strategising your business objectives and improving your business.
Make a list of your competitors and include information about:
· The kind of outlet (for example - fish and chip shop, café, or burger bar)
· The type of food they sell - how wide a selection they have, and what size are their portions? You could purchase a portion of fish and chips and weigh it at home - it is critical that the fish and chips portion in your store is not too small
· Whether they provide 'meal deals’ to pull in the lunchtime trade
· Opening hours and other details, such as, do they offer eat-in or only takeaway facilities?
· Is their appearance smart and upmarket, or do they appear rundown and out of date?
· Is their hygiene rating displayed?
Take note of the prices charged for popular items. If possible, try to observe what types of things people buy and when they buy them; you may notice a pattern emerge.
Once you gather all this information, you can use this to help build your business and stand out from the rest.
Buy an existing business
Rather than starting from scratch, you might decide to invest in an existing fish and chips business listed for sale. Purchasing an existing business implies that the products, customer base, regular sales, premises, personnel, and equipment are already in place.
But if the business has a poor food hygiene rating, it can be difficult to overcome a bad reputation. So it is always recommended that you do background check to be 100% sure about the business you are investing.
On the other hand, if you simply want to avoid all this hassle, we recommend you get in touch with our expert brokers at Absolute Business Brokers to assist you in scouring for the best deals on the market. With our experts by your side, you can rest assured you will get the best deals in the market. We thoroughly check the company, finances, and reputation before recommending it.
So, if you are looking for a professional, licensed business broker in Australia to help you for your needs, contact Absolute Business Brokers today!