Top 5 Most Profitable Food Business Ideas for 2024 [Copy These]

➕ In this video, you’ll learn about 5 extremely profitable restaurant concept ideas; whether you are new to restaurant industry or a seasoned vet, these will be informative!
😊 This video will help you understand the market dynamics, space requirements, labor costs, and general profits of these restaurant concepts
🙌 If you’re interested in using a marketing platform to simplify your restaurant marketing, you can book a demo with our team at www.owner.com/...

[@nh251]

Okay so here's some truth. Not including the cost of a building/kiosk/food truck it only costs about $5,000-$8,000 to get a bubble tea shop up and running, depending on how much extra stock you'll need to have sitting around. Bubble tea is super easy, it doesn't require a franchise, you can easily make your own drink recipes. I just opened my bubble tea shop a month ago in central Michigan. Boba Bliss :) If you're ever in the area, stop in for a drink!

[@owner-com]

It's awesome how many food concepts are out there to choose from for aspiring restaurant owners at different levels. If I ever find myself in your part of Michigan, I'll know where to swing by for some boba!

[@kevindeeley54]

Really appreciate your videos man. The views aren't crazy so I'm happy you're still doing them. The info you're giving us is amazing. Just know, you're appreciated

[@owner-com]

Wow. Thank you so much for such a kind comment, Kevin. I love doing what I do so if I can help businesses in the process then that makes it even better. I've got a lot more content on the way!

[@rodrigovelit9440]

I’ve started watching your videos just a month ago. I am from Peru, and I want to build a food business here. One of the things that I like more of your content is how you give insights about how to expand your profit. Watching the examples you give about fast food chains - aka McDonald’s - and how they maximize their profit by not only selling you the burger but also the fries and soda. So I was thinking how about making a business that have one of those high profitable products like fries be the main product. So now I am making my business plan to make a food business of French fries. Where you have different toppings like cheese, hotdog, flavored wings, chicken fingers and good Peruvian and also classic sauces but being the fries the main one. In that way I can offer a cheap food, with high rotation and good profits. If you can make a video or if you already have one focused on this product it would help me a lot to give me an idea of how to build my business. Thanks for sharing and keep grinding!!

[@rodrigovelit9440]

Your channel is definitely a gem. And I admire a lot of what you do, not only your content but what’s been your journey, stating in Minecraft and then building an startup that helps the management of different food business. I’m sure one day your YT channel will explode!!

[@owner-com]

Hi Rodrigo! Thank you for sharing this and for continually supporting this channel. I’m so elated to hear that our content has helped inspire you on your journey to becoming a restaurant owner. Sounds like you have already come up with a great plan and I wish you luck in your endeavors!

[@hummybee]

This is really good! I've been in the service industry for 25 years. You definitely have your fingers on the pulse. Thank you for this content.

[@owner-com]

Wow, thank you so much for the kindness. I’m passionate about what I get to do in the restaurant industry so it’s awesome to hear that the content we put out is truly helpful for those who watch. I appreciate your support!

[@user-db1br3wd5i]

Hey, thanks for all the content, all super useful!! My concept is a croissant Bar, all sweet and savoury food made with croissant dough.....serving quality coffee also.....thoughts?? Also I am in Melbourne, Australia thanks, Garon

[@owner-com]

Sounds like you’re going for a cafe sort of concept. Would you say that cafe describes what you are envisioning for your restaurant?

[@user-db1br3wd5i]

@@owner-com yes, an espresso bar feel that serves artisan coffee and pastries

[@cookiesmybut]

Im considering and always envisioned opening a Filipino bakery with nostalgic fresh baked goods and possible coffee or specialty drinks. I envision serving catering needs and possibly getting into wholesale to provide businesses fresh bread dough to bake for their restaurants. My question is how profitable would this type of business concept be

[@owner-com]

Hi Christine! It sounds like you're interested in a bakery-style concept. Average bakery profit margin is between 4%-9% so you certainly could create a profitable business. Profitability would greatly depend on different factors like the population in your area, cost of operation and the prices that would make you competitive in your regional market, etc. Have you started looking into competitors in the area and what your costs would look like?

[@arnaudatche]

Hello, I’m thinking of opening a Neapolitan pizzeria but not sure I can make decent profits out of it. Do you have any views on this? The idea would be to open in Amsterdam but I believe on a high level, numbers would be similar to US.

[@owner-com]

Hello! The pizzeria market is generally going to be competitive in any major city. My biggest advice is to build a strong brand early and have SEO strategies in place that are going to help you gain brand awareness in your community. A lot of the videos on this channel detail ways to do this. Have a website built, encourage customers to leave reviews, and add photos of your pizza as one of the first things someone will see when they visit your website. Take a look at what other successful pizza places nearby are doing by searching “best pizza in Amsterdam.” This could give you an idea of what works best in your area. Good luck!

[@arnaudatche]

@@owner-com thank you that’s very helpful! Your reply seem to focus on growing revenue, my concerns are also that even with a decent revenue I’ll not bring home much profit. For instance if I make, 1M/year (already quite challenging as it represents ~200 customers per opening day over 200 open days). I have the impression that it would be difficult to bring home more than 50-100K (5-10%). With these assumptions it just seem I’d rather stay in my corporate job. Thoughts? 😂

[@user-mm3fy6hm2o]

Hi my new business concept is the Italian Ice business. Can you do the numbers, I want to sell to retailers also

[@owner-com]

Hey there! Italian ice is a simple concept when it comes to calculation food costs and items used in Italian ice have long shelf lives which is awesome for conserving money within your inventory costs. Other items to consider as your create your business plan is who your local competitors are, how much space you’ll need based on your location and whether you want to focus on indoor, outdoor, or takeout seating and be sure to consider costs of a POS, marketing, labor, and the costs associated with setting up your restaurant interior with the right decor and machinery. I also recommend looking at options for loyalty program providers. Concepts like yours typically do fairly well with loyalty programs and can help you establish a connection between customers and your brand that encourages them to keep coming back. Thank you for watching and commenting!

[@jvillzy]

Im planinng to open a Japanese style cafe in a highly populated area with train stations, colleges and condos nearby. However im concerned as there is a Starbucks, Tim Hortons and Coffee Project nearby. Could you please share your thoughts on this? Thanks!

[@owner-com]

Hey there! The cool thing about your idea is that you have a unique take on the cafe concept since you’re focusing on a Japanese style cafe and you’re locally owned. Are there other local cafes nearby or are the bigger name brands the only ones in your area?

[@jessecarroll9554]

If you are a stand out from big Corp coffee you will get your customers with little head aches

[@robertovaldez7408]

@@jessecarroll9554honestly a lot of people don’t like corporate restrautnts anymore since they cheap out on quality now. Take a risk and make it good.

[@Zo-hc2fn]

I am thinking about a new type of restaurants: eating-spots in eating-spots, food keeps changing, chefs also rotate this is opposed to current restaurants, thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants, along with that, there is an app, people vote for the food that will be cooked in the next days menu is influenced by the live input of the people via an app

[@owner-com]

Thank you for leaving a comment! Sounds like you’ve put a lot of thought into this idea! A few things to consider could be the challenges of changing inventory each week and finding chefs that are willing to rotate. I’d also consider the value of a loyalty program for a restaurant like this since you want your customers to be pretty active with your restaurant week over week. You’d have to provide an incentive for them to do that.

[@RainImanKhan]

Yes boba is like .50 for entire cost...charging 6-8.00

[@meyershalit]

How about a handroll bar with 6 types of seafood in a handroll on the menu within a small bar location like Kazunori in LA and NYC, what's your thoughts?

[@owner-com]

Typically, seafood places face a bit more hardship with food waste. Once food is raw or if it comes in fresh then they have a short shelf life. However, LA and NYC are both great hotspots for sushi if you market the brand and food well to compete with all the other places customers have to choose from!

[@meyershalit]

@@owner-com if I give you a name of a restaurant what info can you provide?

[@AprendeEmprendeyMonetiza]

I'm not sure where you're coming with your figures but a healthy profit margin for food is ideal at 400% according to the Food Truck Bible author which I forgot his title but is United States guru on food truck business and restaurant consulting authority

[@raajankumar4390]

I think you are getting the profit margin and the mark up confused. In restaurants/food a general rule of thumb is you mark up your food cost by 3-4x in order to cover food cost (30%), labor (30%) utilities and other costs (30%) and leaves you about a 10% profit margin. So your price might be 400% the food cost but your profit margin might sit from 5-20% after expenses for example

[@F19_33]

How do you feel about pizza kitchens?

[@owner-com]

Hey there! Thank you for commenting. Pizza places are a competitive cuisine type, especially in medium to large cities. If you choose to open one, take a look at the local competitors and what you’d have to do to stack up and above the other options people will have in your area for pizza. Pizza places also tend to be hits with families and young people so consider how you may present your brand and menu to attract and retain customers in this demographic. This can include things like loyalty programs, social media presence, family specials, online ordering, combo deals, etc.

[@mylahall2886]

Self serve wine bar

[@aminaahmed763]

I have been trying to get the demo also. I went to the website site and filled out my info at least 5 different times, and nobody has called or emailed. Just thought you may want to know because you’re probably losing business.

[@owner-com]

Hi Amina! What is the name of your restaurant? I can look into this for you.

[@blackranch7883]

Damn I just found your product but seems you can’t get ahold of anyone

[@owner-com]

Hey! Did you already submit a demo request? I can send it over to the right person if you have.

[@astrawboiii1853]

Hi adam! Do you serve in philippines, thank you!

[@owner-com]

Hey there! At this time, we only service restaurants in the United States, but we have plans to expand our service.

[@natenkgwn]

🔥

[@owner-com]

Hey Nate! Thank you for the support. Are you in the restaurant business or wanting to start?

[@xiaofeng5686]

I want to try your demo on your website but never get response, could you please help?

[@owner-com]

Hey Xiao, did you already submit a demo request form? I didn't see your name pop up in the submissions list.

[@xiaofeng5686]

@@owner-com I did, I will do it again, pls check it out

[@KirkieMarine]

I have been trying to get the Demo consultation

[@owner-com]

Hello! What is the name of your restaurant? I can look into this for you.

[@bravokhan]

What are your thoughts about a real fruit dessert shop that serves real fruit desserts along with (real fruit) ice cream, (real fruit) milkshakes, (real fruit) bubble tea, and (real fruit) flavored iced latte etc? This combines three of the concepts you have mentioned in the video. Your thoughts!

[@owner-com]

Hello! Typically the concern with fresh fruit is the shelf life. Some fruits can last longer than other, but generally go bad a lot faster than proteins or other meal ingredients. My recommendation would be to have a good plan on how to prevent food waste while not compromising on the “fresh fruit” aspect of your business if freshness is one of the big things you want your brand to be about. Feel free to keep me posted on how things go if you decide to turn your idea into a storefront!

[@FBIAlex]

My guy looks like an alien…..👀