This type of business requires the skills of a food industry technologist. Runumber recommends: amount of investments – $60k, payback period – 1 year, profitability – 89%.
Market Overview of Molecular Gastronomy Restaurant Business
The molecular restaurant is not a full-fledged restaurant. This is something like a theater, where the presentation of food resembles a theatrical performance. The client should guess, be surprised and enjoy the unexpected show. However, it’s impossible to be fed with such food. For example, there is Alinea molecular gastronomy restaurant in Chicago, where customers receive food not in plates, but in spoons, namely in several beautifully placed spoons filled with something unusual.
Eleven Madison Park in New York is one of the most famous molecular restaurants. Here, molecular gastronomy is positioned as an addition to a restaurant with an ordinary cuisine, a bar and a wine room. The average check is $56 for breakfast, $125 for lunch and $200 for a set of eight tasting menus.
Peculiarities of Molecular Gastronomy Restaurant Business
This is not a business for small cities where the population does not have enough funds. Even if there is no molecular gastronomy restaurant in your area, think twice before preparing a business plan, since it requires a lot of investments. To return investments and not just work at your pleasure, you need to look for cities with rich people or steady flow of tourists. Most often, such restaurants have a chance to perform successfully only in developed countries.
The cities tourists visit to relax are an ideal place to launch such a project. The cities shouldn’t necessarily be capitals. Small cities where the tourists have something to do for more than one day are also an acceptable option.
You need to have a concept as well as special expertise to start this business. Kitchen professionals should be more chemists than chefs. If you have a relevant knowledge, why not trying to become a chef at your own undertaking? A significant part of the production cost is formed by the remuneration of staff, so if you want to hire a cook, get ready to cover large expenses. You need to hire specialists who understand the basics of molecular gastronomy and can generate enough ideas to surprise the clients.
Similar financial plans:
- Hookah Cafe Business Plan
- Business Plan of a Waterfront Restaurant
- Restaurant or Bar Business Plan
- Business Plan of Molecular Gastronomy Restaurant
Equipment Necessary for a Molecular Gastronomy Restaurant
Preparing a business plan for a molecular gastronomy restaurant, take into account that a regular kitchen set includes not only an electric board or equipment for instant freezing, but also some specific devices like lyophilizer, vacuum distiller, rotary evaporator, centrifuge, thermostat and sous-vide equipment. It takes 30-40 thousand dollars to buy appliances that help cook interesting meals. It is difficult to evaluate the cost of the other equipment, since it is purchased based on the assortment of dishes.
Peculiarities of Advertising to Consider when Preparing Business Plan for the Molecular Gastronomy Restaurant
You can advertise the molecular gastronomy restaurant in the media only when it opens in a really big city. Additionally, you can cooperate with travel companies that can bring customers, receiving a part of the proceeds from sales. Quite often, it is tourists who want to spend money on something unusual, especially if it can be watched and afterwards eaten. It also makes sense in cooperating with the local travel agencies. They organize holidays in the city or print advertisements in information leaflets highlighting local attractions. In addition to the restaurant, a website advertising menu and fabulous food stories should be constructed. It’s also worth supplementing PR with various promotions and discounts.
Click here Sample of Pittsburgh Brewery Business Plan by Runumber and see how easily you can apply financial calculations in your business plan.