With the New Year upon us and our resolutions in front of us, we stop to reflect and direct our energies on correcting and improving those things we feel that are needed for a successful restaurant. What is the definition of resolution? It is the act of resolving or determining upon an action, course of action, method, procedure, etc. Another definition of resolution is the planning for something done, state or quality of being resolute. By looking at the definition, is something that we should do on a regular basis if we are looking at owning or operating a restaurant. Resolutions for a successful restaurant with continuing improvements no matter how well you put together your plans. Your plans will need reviewing, and adjustments as you move forward. Let’s take a look at some resolutions for a successful restaurant.
Remember the world makes room for those who know where they’re going. Having a well put together restaurant business plan will guide you and help you avoid potential missteps. In the restaurant business, it’s necessary to look back and adjust some of the plans that you put into place previously. A good example would be your marketing plan and where you chose to put your efforts. There are many businesses that assume in order to be successful you need to invest a lot of dollars on print, radio, and television advertising. Well, I’m not convinced of that and have seen good results without spending the big dollars. If your location is good and the traffic flow is working then you might try marketing your business with your brand. That means putting your efforts on what distinguishes you apart from your competition. How about “impeccable service”, “signature dishes”, made from fresh food that would include locally caught seafood, fresh cut steaks, and locally farm to table organic vegetables. If you have focused your efforts on print, radio or television and had nothing to show… it’s time for resolve.
Taking time to study and understand your market and geographic along with your customer profile is important in putting together an accurate projection for your restaurant. Not a perfect science and sometimes projections can be off and when they are we need resolution. What should we look for and how can we get back on course? The first one would be your menu prices and have you made the necessary adjustments due to market changes. Then there is your menu mix and have you determined the slow movers and adjusted accordingly. Then there would be looking at your concept and does it fit your area along with looking at both your fixed and variable cost and seeing if they are too high. The biggest fault with most restaurants that are not profitable is they don’t take the time to review and adjust when needed. As they say if it’s not working fix it before it’s too late!
LOOKING FORWARD TO THE NEW YEAR!
If we believe that it’s going to fix itself, and we are reactive instead of proactive then, we will be disappointed and possibly not be in business long. Let’s make a serious resolution to be proactive and show resolve. Then we will enjoy the fruits of our labor and a profitable future.