Factors Affecting the Successful of Restaurant Business in Chanthaburi Province
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Abstract
This study identified prioritizes and ranks the critical factors that impact the success of restaurant business operations in Chanthaburi province. The study was carried out through survey data collected from 396 restaurant entrepreneurs. The study investigated the level of four factors that affect the restaurant business: 1) creativity and innovation (X1), 2) ability of proactive working (X2), 3) opportunities of facing risks (X3), and 4) perception and awareness of technology (X4). The most significant factor affecting restaurant business success was the ability of proactive working, followed by creativity and innovation. The number of customers was the primary index indicating business success, followed by financial gain. The relationship of the key success factors to overall operational efficiency showed that all four key success factors positively influenced operational efficiency, with statistical significance at the 0.05 level. All four key success factors predicted the operational efficiency at 44.9 percent, with the regression analysis equation being Y= 1.235 + 0.164X1 + 0.121X2 + 0.100 X3 +0.271 X4. These findings provide information for restaurant entrepreneurs to improve their business performance. However, restaurant entrepreneurs need to develop effective restaurant social media strategies to promote their businesses on different social media platforms, as these platforms provide opportunities to promote relevant information such as contact numbers, locations, and new additions to the menu.
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