Vasken Jermakian

Vasken Jermakian
Founder of Foodication Restaurants
Vasken founded Foodication Restaurants in 2013 after spending several decades working for large, multinational food and beverage companies. Foodication Restaurants provides expertise in running restaurants, assists business owners in avoiding common mistakes when starting up, increases operational effectiveness, and ensures compliance with regulations. By helping business owners save time and money, they ultimately increase the likelihood that their new restaurant will be successful.

How did you become involved in delivering events for the BIPC?

“I had signed up for a Reader's Pass at the British Library before realising how incredible the BIPC was. I was now free to go through all the market reports that I had always wanted to read but had been unable to do so due to their absurd prices. Then, as a next step, I began attending business-related lectures and workshops, where I met Kerrie Dorman, who was running a business workshop. After a few conversations, and as Kerrie had a background in running restaurants, we decided to start the food business and restaurant workshops!”

What’s the one BIPC resource you love to recommend to people?

“The market and sector reports are a very valuable source of information for entrepreneurs who are considering launching their food and beverage ventures. The team at the BIPC is very knowledgeable and will guide you in locating the relevant information.”

Your best piece of business advice?

“Actually, I have two pieces!
The first one is that when starting their business, new food and beverage entrepreneurs don't know what they don't know. This is intended to imply that the owners of the business may not be fully aware of all the elements, challenges, and difficulties involved in starting and running a restaurant, cafe, or bar. 
Despite their great ideas and intense passion, many will lack the relevant experience and the specialised knowledge required to run a successful food business. The business environment in the UK is quite complicated, and businesses that deal with food and restaurants must adhere to a number of laws, rules, and regulations. Here is where we step in to assist them in avoiding common pitfalls and boosting their chances of success.
‘Know your numbers’ is yet another excellent business advice. This entails monitoring your finances and comprehending your company's key performance indicators, such as sales, labour costs, food costs, profit margins, etc. You can then decide where to allocate your resources, how to set the price for your food and drink, and how to increase the profitability of your business. Knowing your numbers can also help you spot sales trends and patterns, which could then be used to forecast how well your company will perform in the future. 
I always emphasize the importance of the entrepreneurs figuring out their pre-opening expenditure (the sum of money required before the business begins to operate and generate revenue). This way, and hopefully, they won't run out of money before cash starts flowing in.”

Tell us something about you.

“I love going to restaurants with my son Levon. Every chance we get, we enjoy going out and grazing on a variety of foods, usually from several different restaurants. We might begin by sharing a small starter from one restaurant, then have another bite somewhere else, enjoy a main course in another, and so on—until we've had some delectable pudding or ice cream and feel like we can't take it anymore! By doing this, I can keep an eye on the new dishes that are being offered in the marketplace, as well as scrutinising the customer service in new establishments. I am a big advocate of memorable customer service!”


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