How to Succeed as a New Restaurant

restaurant

Starting a new restaurant can be the beginning of a rewarding and fruitful venture. Behind every successful establishment, however, is a successful process. If you want to have an understanding of how restaurants can prosper, you also need an understanding of why so many restaurants fail. The biggest reason why restaurants can flounder is because there is no plan in place. Approximately 59% of hospitality services fail within 3 months. A lot of the failures all have the common theme of not having a plan in place in order to fulfill the needs of the restaurant. You need to plan to be successful, but what do need to focus on specifically?

Overestimate Capital Needs

Capital is required to get any business off the ground. With a restaurant, it would behoove you to have at least six to nine months worth of capital before starting up. Unfortunately, there are a lot of expenditures that is required to keep a restaurant functioning. Always have the mindset of thinking you do not have enough money. If you need a gas deepfryer, estimate how much it would cost and put it into your budget. Many restaurant owners make the mistake of thinking that the honeymoon phase will never end, and get deluded by the initial success that they enjoy. Being adequately prepared in a financial sense gives your restaurant a fighting chance.

Highly Value Your Customers

With customers, you are a business. Without customers, you are just a building. While the “customer is always right” phrase may not be popular to many, the customer is the key to ensuring that your business gains a steady flow of income. In order to retain customers, you have to value them highly and treat them as if they were family. There are many ways you can show great customer service, and if they feel welcome, they will decide to return.

You may also want to consider spending money on things such as giveaways and complimentary dishes as special incentives.

Follow Good Marketing/Advertising Practices

Your clientele will vary based on your location, but you will have to make sure that you can devise a means by which your restaurant stands out from the competition. From the golden arches of McDonalds to the arrow signs of Subway, any successful franchise has something that makes them stand out from the competition. Based on what your speciality of food is or what you want your environment to emulate, use unique imagery that will make people automatically associate a certain frame with your establishment.

Choose Appealing Furniture

You need to ensure that the furniture inside your restaurant coincides with the rest of the room. Remember that you are inviting the local community to come to your establishment to have good food, relax, and go out on dates or business meetings. Whatever the reason, whoever comes here for whatever purpose should feel welcome. A big part of feeling welcome is the consistency of your choice in furniture. If you do not have diverse knowledge of interior design, then consider hiring a designer for you. It will cost some money, but it will pay off in the long run.

Have a Staff that Works Like a Team

Many of the reasons why patrons refuse to return to restaurants are surrounded by poor service by employees. Whether it is an attitude, feelings of distraction or that they simply do not care, quality service can be hindered by a staff that not only does not communicate with each other, but are distracted on their goals. Ensure that orders are taken in a reasonable manner whoever is working which station remain vigilant. You only have one chance to make a great first impression on new customers. Do not squander the opportunity to represent the restaurant favorably.

Navigating the restaurant industry can be tricky at first, but as you work to follow these tips, it will get so much easier. As you work to get your staff to work together, your dining area to look cohesive, your marketing to accurately represent who you and your restaurant are, your customers to feel valued, and your expenses to be covered, you will begin to see more and more success.