When the economy is heading down, how do you make sure your restaurant thrives no matter what? Read this thirteen tips on how to keep your restaurant on the top.
1. Reconsider you products- refresh your menu, add new flavours, or bundle products together for a better perceived value.
2. Examine your packaging- check if your packaging for to go bags or take-outs is appealing to your customers? Also is the packaging current?
3. Revisit your pricing- do not lower but instead find ways to strengthen your current price.
4. Look for opportunities- as other businesses falter you can move into new markets, add new menu items, or products.
5. Collaborate your efforts- offer discounts to existing customers or business professionals who can refer you business.
6. Expand your network- get to know new people in different business sectors who may become or know someone who wants to become your customer.
7. Increase your marketing- with less competition you will get more visibility for your restaurant. Also don't forget to take advantage of free social media marketing tools.
8. Take advantage of your assets- hold cooking shows, live how to guides or print your own restaurant recipes.
9. Stay on top of trends- customers are not just shopping online anymore. They are booking reservations, checking reviews, or selecting favorable menu dishes so be sure to take advantage of new emerging trends.
10. Stay in touch with technology- application based websites like Foursquare should become your friend because they cannot only increase your sales but also your visibility to new customers.
11. Look into refinancing- reorganize your debt and get better terms with single loan or credit line.
12. Improve cash flow- look into getting favorable terms and values from your vendors and manage your cash better.
13. Take time to energize- no matter what you do you need at least one day off to recoup your strength, so don't compromise.
1. Reconsider you products- refresh your menu, add new flavours, or bundle products together for a better perceived value.
2. Examine your packaging- check if your packaging for to go bags or take-outs is appealing to your customers? Also is the packaging current?
3. Revisit your pricing- do not lower but instead find ways to strengthen your current price.
4. Look for opportunities- as other businesses falter you can move into new markets, add new menu items, or products.
5. Collaborate your efforts- offer discounts to existing customers or business professionals who can refer you business.
6. Expand your network- get to know new people in different business sectors who may become or know someone who wants to become your customer.
7. Increase your marketing- with less competition you will get more visibility for your restaurant. Also don't forget to take advantage of free social media marketing tools.
8. Take advantage of your assets- hold cooking shows, live how to guides or print your own restaurant recipes.
9. Stay on top of trends- customers are not just shopping online anymore. They are booking reservations, checking reviews, or selecting favorable menu dishes so be sure to take advantage of new emerging trends.
10. Stay in touch with technology- application based websites like Foursquare should become your friend because they cannot only increase your sales but also your visibility to new customers.
11. Look into refinancing- reorganize your debt and get better terms with single loan or credit line.
12. Improve cash flow- look into getting favorable terms and values from your vendors and manage your cash better.
13. Take time to energize- no matter what you do you need at least one day off to recoup your strength, so don't compromise.
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