4 Things You Know Before Purchasing a Fish and Chips Business
4 Things You Should Know Before Purchasing a Fish and Chips Business
Who doesn't enjoy crispy fish and chips that melts in the mouth? The aroma of delicious deep-fried fish in hot oil, accompanied by crunchy and soft chips, can make Aussies crave without hesitation.
According to statistics, with rising discretionary incomes and per capita seafood consumption, there may be an increase in spending on non-essential items such as fish and chips. This is an excellent opportunity for an astute investor like you to invest in the fish and chips business for sale.
So, don't pass up this opportunity and invest in the fish and chips business right away! However, there are a few things you should know before procuring one. And to assist you, we have compiled a list of key points that you should consider before investing your money in any fish and chip business.
Have a concrete business plan
Before you commit to any fish and chips business for sale, you must first develop a business plan. You can achieve this by adopting a general business plan template that must include the following essential elements: -
· An introduction to the company, including business objectives, mission, legal structure, and capital structure.
· What would be your USP - What are you going to specialise in to bring customers through the door? Will you be offering low-fat fish and chips, or will you be giving air-fried fish and chips instead of deep-fried? Think wisely, as this may determine the success of your business.
· The market – Understand the target audience and market size.
· Competitive analysis – Investigate competitor’s strategy, pricing, and selling channels. Also, study the portion of fish and chips offered by them.
· Details of operation - Check essential equipment, premises, staffing, and general materials required.
· A financial overview, including sales and profit projections, insurance, and required funding.
Once you have the basic business plan in place you can proceed to the next key point.
Business Location
The location of your business is critical to its success. So, before investing in an existing fish and chips business for sale, consider its location carefully. Certain areas will almost certainly bring you more business than others. For example, if you can secure a prime location near a school or large housing estate, you will likely see a much higher number of customers than if you set up shop on a country lane or away from the hustle and bustle of a town centre.
Quality
Whether you have stiff competition or not, you must ensure that your business serves high-quality food in a high-quality store. Why? Because people will always return to a place they think is great, and they are more likely to pay more for what they consider to be higher quality.
Finding the Right Supplier
By conducting research and locating a supplier who supports sustainable fishing practices, you are being environmentally conscious while also contributing to the longevity of the fish and chips industry. There are numerous suppliers who can supply all aspects of your shop, from equipment to fish, potatoes, oil, and other miscellaneous items. So, find the one that you think is perfect for your business.
Ready to Invest
We hope our tips have helped and inspired you to invest in a fish and chips business for sale. And remember to visit Absolute Business Brokers before investing in any business. Absolute Business Brokers has been in the business for many years and has a thorough understanding of the market. We have hundreds of take-out food businesses for you to choose from. Perhaps you can even contact one of our expert brokers to find the best deals based on your requirements.
If you want to learn more, contact one of our expert brokers today - they are happy to assist you!