How Restaurants Can Boost Their Profits

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There’s much to love about having your own restaurant, but it’s just a fact of life that it’s not the easiest industry to be in. Competition can be fierce, and operational costs always seem to be high. That’s why it’s super important that restaurant owners find ways to boost their profits, beyond the usual evening dinner crowd. In this blog, we’re going to take a look at a few tried and tested methods that other restaurants have utilized as a part of their operations.

Inviting Offers

It’s likely that you’ll find plenty of people coming through your doors on a Friday and Saturday night, but not so many people coming in throughout the week. People usually save their money for fun at the weekend, so that makes sense. As such, it’s worthwhile giving the people an incentive to visit your restaurant in quieter periods. You could run a special offer during the first half of the week, for instance, where prices are lower than they are at the weekend. It’s also worthwhile looking at appealing to the lunch crowd. Profits won’t be as high as they are for evening meals, but it will make a difference. 

Reducing Waste

You’ll spend a lot of money on ingredients for your meals, but what percentage of your ingredients actually end up on the plates of your customers? All industries produce waste, and it’s no different for restaurants. It’s important to know that this waste doesn’t just have to go in the trash can, however. There are companies that will pay for this waste. Gfcommodities.com, for example, will pay restaurants for their yellow grease. There are other companies that will take your waste food to make fertilizer. Though the amount will vary, you can end up getting paid for all that your restaurant produces, not just what ends up on the plate. 

Hosting Events

If you haven’t been hosting events at your restaurant, then what are you waiting for? There are a lot of people out there looking for spaces to host wedding receptions, corporate events, and parties. If you have a well-designed space, then your restaurant might just be the perfect place. This works especially well since people will pay for the exclusivity of your establishment, and will spend money when they’re there, too.

Reduce Staff Turnover

You probably already know just how important staff can be for the success of your restaurant. There’s a big difference between poor waiting staff and outstanding staff, and it really makes a difference to the bottom line. And of course, it’s also expensive to hire employees — both when it comes to advertising the jobs and the lost productivity during the training stage. As such, it’s recommended that you take steps to reduce staff turnover. This will involve developing a robust hiring policy so that you always bring the best talent on board, which will reduce the need to rehire when an employee doesn’t work out, and also treating your staff well so they will stay with you.

A Touch Of Class: What Does It Take To Run A Food Business With Finesse?

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There is nothing quite so challenging in the entrepreneurial world than running a food-oriented business. Whether you are trying your hand at a restaurant, being a wholesale supplier, or even driving around with an ice cream van, running a food business isn’t a straightforward as it seems! It’s a fine art of providing customer service, but also knowing that one false move can sully your reputation forever. What does it take to run a food business with the right intentions, but also make it successful?

Keeping The Customer Satisfied

While this is such a diverse subject matter, from the perspective of a new restaurant, it’s all about making sure that their experience is second to none. We should never put the seed of doubt in a customer’s mind. When there are problems, either in terms of the food, or there are things beyond your control, such as drainage and hygiene problems, this can turn your customer off. It’s important that in these situations you focus on the customer before anyone else. You may have to call a restaurant plumber to get an issue fixed, and this may mean that the restaurant will have to shut for a day or so, which is not ideal, but in the long run, you’ve got to think about your reputation. The customer needs to be satisfied, so therefore the experience has to be fantastic, because when they inevitably talk about good food and good service, they are inextricably linked, and will result in more people coming to you.

Choosing Your Location Wisely

There are many restaurants off the beaten track that are hidden gems in big cities, but when you are starting out in the food business, it’s important to be as close to the thoroughfare as possible. This means that there can be issues specifically related to being in the middle of a city center, especially in terms of security, but a restaurant in the right location is all about drawing the crowds, accessibility, and providing that potential for growth. Researching if there are startup incubator spaces for restaurants can help, as this will keep your costs low at the outset. Perhaps finding a space that doubles up as accommodation can make it easier for you as you can live there but also cut down on your initial costs.

Testing The Menu

The food is the foundation. Asking trusted people for feedback, no matter how gruesome, will allow you to fine-tune the choices of food. Even if it turns out to be a small menu, if the customers like it you are going in the right direction. It’s not just about the taste, it’s also about the price! Do market research and look for similar eateries in your area and industry that provide appropriate pricing.

Running a food business might be a dream career for many, but there’s a lot of hard graft associated, and it’s not just about the food! Yes, the food is the foundation, but to run a successful food business, you have to ensure that the customer service, the structure, and the intentions are as original as the food.