(StLouisRestaurantReview) In the past, students were restaurant owners’ least favorite group of customers. Most students are on a limited budget, so they cannot afford expensive meals, and their tips are almost always small. However, if you stop to consider that most students dine exclusively outside, this might just push you to change your opinion.
As a matter of fact, this should definitely change your opinion about it. If you are thinking about opening a St. Louis, Missouri restaurant, a location near the college campuses has a very good chance to make your business profitable – and fast.
Reasons Why a Near-Campus Restaurant is a Good Idea
Let’s take a look at the reasons why.
- Students Don’t Have the Time to Cook
Adults have bigger budgets and can afford more expensive meals – and leave you a big tip. But, when you stop to consider that most adults eat outside rarely, this might just be the most profitable target group to focus on.
The majority of students these days are too busy handling their tasks and studying to get the best grades. Some of them will find some time to cook at home because they’ll hire a writing service to help them. They go online to get professional help from a personal statement writer when they want to enjoy quick results and ensure that they get accepted in school. Still, their schedule is often packed even with some help, so most of the time, students will get ready food from restaurants.
So, even if the student has a limited budget and cannot afford expensive meals, you’ll get a crowd of customers for breakfast, lunch, dinner – and even night snacks on a regular basis. This adds up to a lot, making students one of the best target groups for restaurateurs!
Research shows that 81% of adults dine outside at least once a month. Only 28% of these eat once a week! A student on a busy schedule that lives on campus, possibly without conditions to prepare meals, will mostly eat outside – at least 4-5 days a week!
College areas don’t limit you to students only. You’ll never get a shortage of customers, even when students are on their break. Think about all the prospective students and their visiting families, too. They’ll get hungry when they visit the campus and need to eat!
Restaurants near college campuses cater to many educational events and attract people that live in the area, too. Since most students prefer getting take-outs to be able to snack while they study, this can attract a passerby that’s not a student, too.
If you create a menu that is attractive for students, you can make your restaurant a desired dining spot for many. Just think about it – students don’t have a lot of time, so they’ll get something fast. They’ll want healthy meals to keep their brains energized to study and snacks they can consume between study breaks or when they are in rush.
Such meals are popular with many people today because life is busier than ever!
A Lot of Turnover
Speaking of speedy eating, you’ll find that most students don’t stick around for hours dining at restaurants. They don’t have the time – or don’t really fancy spending hours at restaurants. They’ll better spend their free time with friends or at a party, so most of the people in your restaurant will just eat and leave – or even take it to go!
This allows you to serve more people because of the quick turnover.
Unlike adults that sleep through the night and go to work in the morning, you’ll get students to your restaurant all the time! Consider working night shifts to cater to the needs of those who prefer to study at night! If you have delivery, you’ll deliver food to hungry learners 24/7 and even feed the hungry students at their parties!
Growing College Population
Every year, there are more and more students in colleges around the world. Thanks to scholarships and college loans, more young people have the opportunity to pursue higher education and get more prospects for higher-paid jobs afterward.
It’s always smart to invest in an industry that experiences a continuous rise in the customer base. This is definitely one such opportunity.
Opening your restaurant in a college area can be a very profitable move, but you need to tailor your offers to your targeted customer – the student. So, prepare a diverse menu that meets their needs, get techy, and offer them perks such as late delivery and takeout. With the right menu, great service, and delivery options, this can be a very busy, very profitable business for you!
Cory Shilling is a career advisor for students and young professionals. A psychologist by training, Cory is helping young people to find their path in life. In addition to advising them in person, Cory often publishes educational articles online.