HND IN HOSPITALITY MANAGEMENT

HND in Hospitality Management

HND in Hospitality Management

Introduction

In the hospitality industry, to remain successful in the business requires excellent skills to out compete in the market. Specifically in the restaurant business, owner of the business requires out of the box thinking and requires excellent management skills. Owner of the restaurant business need to have and innovative mind and also have knowledge about finances if he needs in any case for the business. Traditional lender of finances considers this industry as high risk business and thus there are limited sources of finances as compared with other traditional businesses. Therefore, in this industry to get finances for the business it requires an effective business plan and financial performance of the business is also required to evaluate the risk of lending in that business. In addition to this traditional business lender requires past performance of the business to take a decision for financing the restaurant (Barrows & Powers, 2009, pp. 15-18).

Starting a new restaurant also requires extensive marketing of restaurant. It requires frequent messages to the potential customers of the business. This includes various strategies such as offering discounts, deals, referrals or networking.

In this paper, various areas are covered regarding hospitality industry. This includes attracting customers, and source of financing for restaurant.

Discussion

Marketing the restaurant

In such a competitive environment opening and attracting business is extremely tough. It is to mention here that most of restaurant does not survive in the first year of operation. However, after developing a strong repute in the area it is the great source of income for the owner of the business and gives a wide variety of opportunities like marketing the products of restaurant in supermarkets and franchising the business. The aim of this paper is to start a restaurant in Leyton. After starting a business, to get a good reputation for the restaurant requires attractive strategy for attracting customers along with quality of product that cherishes customers.

In the first step after starting a business is to create a presence of the business information online. This requires registering a website having a domain name on the name of the business to spread information of the business to the potential customer of the business. It helps in creating buzz in the market and customer long before its launch. In launching website it includes all part of the restaurant information. It gives detail overview of the business with pictures to stress on the customer to visit the restaurant.

In addition to this promotional strategy of the restaurant there are several other basics for marketing the restaurant. In this strategy, referrals can be used along with dining certificate and comment cards. This strategy can be used with existing business and can be used by own developed systems (Negi & Manoher, 2009, pp. 55-70).

Currently social media is at its boom and most of the business uses social media to reach its customers. Through various social media sites, business can connect its website and create various campaigns on ...