There are several things that you need to do, in order to maximize the profitability of an exotic cuisine café. These are, in other words, the profit maximization strategies for an exotic cuisine café business. You need to have a full understanding of these strategies before setting up an exotic cuisine café – because this is the sort of business where it is very easy to burn your fingers (literally and otherwise) if you are not careful.
Firstly, if you wish to maximize the profit you make out of an exotic cuisine café, you need to ensure that you do your marketing in the right way. The goal is to ensure that as many people as possible are aware of the café’s existence. This way, whenever they feel the urge to have some exotic dishes, they would be in a position to visit the café. Logic 101: the people can only patronize the café if they are aware of its existence.
Secondly, after getting the marketing aspect right, you need to get the operational aspect right too. The marketing is essentially all about making promises to potential customers. The operational aspect is, on the other hand, all about delivering on those promises. Having put in so much effort in marketing (to draw customers into the exotic dishes café), you can’t afford to subsequently under-deliver. You therefore need to put in lots of efforts in obtaining the recipes for exotic dishes, preparing the exotic dishes, maintaining the right ambience… and so on.
Thirdly, after getting the marketing and operational aspects right, you need to get the financial management aspect right as well. The main objective here is to minimize the costs. The first two strategies we have looked at (namely, undertaking your marketing in the proper way and managing the café operations properly) are likely to have the impact of maximizing revenues. Having maximized the revenues, the other major thing you need to do is to minimize the costs, in order to maximize the profit. It is in a bid to minimize the costs that you may need to ensure that you have just the right number of employees. You can cut administrative costs by, for instance, using the Securitasepay system to process employees payrolls automatically, rather than having to hire an in-house accountant for the purpose. Under this system, the employees can simply go to the Securitasepay login page, whenever they need to access their pay stubs, rather than having to visit the HR office. This means that you also get to save on HR costs.
You also need to do your best in cutting other overheads – such as expenditure on office space, power, air conditioning… and so on. But there is a catch in all this: for you also need to be careful with your cost-cutting measures, lest you try to economize too much, and end up hurting the business. So this aspect of cost-cutting, like most other aspects of this business, is a delicate balancing.