Success factors and entrepreneurial characteristics of fine dining restaurant business in Bangkok
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Abstract
The restaurant industry has high potential and is closely linked to the tourism industry's growth, but upscale Thai restaurants are still facing business recovery challenges. This qualitative research study used the phenomenology methodology to examine the operations, success factors, and characteristics of successful entrepreneurs in Bangkok's fine dining restaurant industry. The 10 key informants are restaurant owners or assignees with a minimum of 5 years of management experience in small and medium fine dining restaurants. The data were collected through in-depth interviews using a snowball sampling method, and then analyzed through triangulation and interpretation. The research results found that success factors for the fine dining restaurant business in Bangkok include. restaurant style and knowledge of food, excellent food quality and service, marketing and public relations, business ethics, physical environment, organizational management, and business partnerships. Additionally, successful entrepreneurs demonstrated knowledge in food, business operations, technology, and the world's changes, as well as skills in restaurant concept and design, strategy management, and personal qualities such as innovation, competitiveness, risk-taking, and honesty
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