Help about pancake and burger shop business in Malta

I would suggest you visit malta first, there are already a number of pancake and burger shops here already and you really should check out your market and your competition .

Thank you for your answer,I have been in Malta once,and yes there is competition,but there is competition in everything,it is very hard to be the first in something.The competition is big,but the tourists are alot in Malta,so I think in the right place,with the right prices there will be customers even for me,I think food is always sought.

Hello Vladimirdv,

Do you have any previous experience in the food service industry? There is lots of competition in the restaurant business, but they're almost all new start-ups. Restaurants disappear faster than Harry Houdini.

A recent study found that 60% of restaurants don't survive their first year, and that 80% go under within 5 years. Why in the world would you want to invest the money it's going to take to start up a business in another country if you're putting it into a business with such an extremely high failure rate?

Sounds to me like you should be thinking of a much safer business venture.

Cheers,
James        Expat-blog Experts Team

So James. The recent study you quote? Conducted on Malta was it?
Sounds to me you should stick to commenting on affairs in Brazil.
You really are not qualified to comment on affairs here on Malta.
There are however, many others, who live here and are qualified to answer.
Not I, I hasten to add, on this subject but I am sure there are some who will comment from experience.
Business out here is, shall we say, 'unique' and competition and the way that is done, is very serious.

Hi Vladimirdv,

to get back to your original question - 90 € /day means around 2700 € /month rent alone. premium means that you pay 60.000 € to get the key for the place ! A one time charge . Rent will always depend on size and location.

Nearly every restaurant/bar/pub in Malta offers burgers. Strangely enough here in Sliema and Gzira there seems to a new Italian restaurant opening every week. But the same number also seem to be closing too !

Pancake and burger shop is too generic to give advice on the business idea. Are you looking to be cheap or good ?  What is your specific business idea? Why should someone visit your place and eat your burgers or pancakes? Are they something special or just cheap?

It is basic that those places that are crowded will be the ones with the highest rental costs.

The tourist season is too short. It is typical to see places close down during the winter months because of lack of business.

It will be essential to do the correct research (homework) and come up with a potentially succesful business model and have enough financial reserves to survive at least the first winter if things don't go that well. With your idea you are certainly not the first ! Being in Malta once is nice . Success is 10 % inspiration and 90 % perspiration -))

Cheers
Ricky

It was a study commissioned for Business Insider Magazine, which is after all an international publication, I guess that they know what they're talking about and very likely to take national differences into consideration in their studies.

Regarding posting on the Malta Forum, as you know ANY member can post to any forum that he/she wishes to. There are absolutely no restrictions. My comments to Vladimirdv were quite relevant to the food service industry and accurate (well maybe not in your opinion). That said they were not directed to you in the first place. You may certainly voice an opposing opinion, but our rules do require you to do so without making personal comments like "Sounds to me you should stick to commenting on affairs in Brazil."

Cheers,
James    Expat-blog Experts Team

I have PM'd you.

'Due diligence' is the key to setting up a successful business and I would argue, one needs to be here to do that