Top 5 Most Profitable Food Business Ideas 2020
When it comes to the restaurant industry, you might be thinking that fine dining reigns supreme. While that’s where you’ll find your foodies, many other types of restaurants are still incredibly popular. Even more so, several of these even have the ability to turn a bigger profit.
Where profit’s concerned, you have to consider commercial kitchen equipment, mobile app development, and overhead, regardless of your market share. If you’re on the hunt for the fabled cash cow, you should consider the following types of restaurants.
When you don’t have a physical sit-down space, you only need to worry about your commercial restaurant equipment and your mobile application development process. Instead of worrying about monthly rent and finding the perfect space, you could invest in a micro commercial kitchen.
You’ll also want a mobile app so you can handle deliveries with ease. If you don’t know any Android developers or you’ve never made an iOS app, you may want to call in the pros. With the tagline “NS804 your app ally in iOS and Android development,” the brand NS804 can help you turn your app development concepts and turn them into a reality.
Delivery-only restaurants absolutely need a native app to succeed in the current business sphere. Whether you’re looking to be on iOS devices, Android devices, or the Google Play Store, there are plenty of experts with mobile app programming languages that can help you sort out your needs.
There’s something incredibly comforting about a diner. They’re cozy, comfortable, and relaxing. You can get quality food at killer prices. Stay long enough and you’ll start to recognize the regulars. Of course, many people believe “new restaurant” and “diner” are incompatible concepts. That’s not quite true. Even diners are getting in on the mobile app and takeout game.
On top of this, you don’t have to shell out as much for restaurant supplies like flatware and food prep equipment since you’ll probably be working with a constrained menu of classics and comfort food. This is one niche where you can make a lot of money without spending a lot of money. It’s a great startup option.
There’s a reason bars are so popular. You can operate without a lot of restaurant equipment, you can make an insane profit off of drinks, and you can even develop a cult following with your target audience. For an entrepreneur, starting a bar might seem like the best choice.
However, it’s a competitive market so that may put a new restaurant concept at a disadvantage. Other cons outside of stiff competition include startup costs and expenses for coolers and other bar-specific commercial equipment. However, if you have a savvy mind for business, you can make it work.
Diners love convenience. That’s why quick-service restaurants and fast-casual concepts are so successful. Whether it’s a bakery or a taco joint, QSRs are moneymakers. You need to give your restaurant commercial equipment that can handle speed. This means a commercial fryer, grills, mixers, ovens, a dishwasher, and refrigeration equipment to keep your ingredients fresh.
These businesses are also perfect for mobile app monetization. With a new app, customers can order for pickup or delivery regardless of their operating system. It’s the best option for a QSR.
Who doesn’t enjoy a good bowl of pasta? Italian and pasta fusion restaurants are major hits with customers. Plus, you can incorporate some higher-quality ingredients to raise the price per dish.
This is another niche that’s ripe for app downloads. With the right functions, your mobile application download can let diners customize their pasta, choose from add-ons (for an upcharge, of course), and allow you to handle more tickets in a shorter amount of time, raising hourly income.
Whether you’re looking for pieces of restaurant equipment and cooking equipment or you’re setting up a mobile application for your eatery, there are several niches that can help nudge your profits even higher. If you’re ready to launch a winning food concept, consider one of these big hits from recent years.