Starting a restaurant and managing it is a challenge. Having an excellent menu or advertising can help you get started, but it can not keep the doors open in the long run. Success at the very beginning is even more difficult, and if you copy the standard business model, you will not succeed.
Here are the key ingredients for the success of the startup in the restaurant industry.
Put some order in your legal home
The first thing to do is to hire a qualified CPA to ensure that your taxes are well paid. You should know before opening the doors what are the health rules you need to answer and be sure to ask what could bring an adverse review of the Ministry of Health.
It's not what you do but what you keep
There is an old maxim that this is not what you do but what you keep that matters. It does not matter if your tables are full if you do not make any profit. The fact that you have twice the time to respond to the request does not allow you to stay in business if you spend a dollar more per plate than you paid for it.
The best way to avoid this error is to keep track of costs – not just at the aggregated level. How much does food and labor cost for a given meal? How much do you pay for the meal? Your ticket can not cover the cost of food and work. Factor in overhead costs like marketing, rent and insurance in every meal in order to really make a profit. Create a formula to set prices that include both ingredient costs and labor and overhead costs so that each dish earns a profit.
Have a marketing plan
Do not rely on word of mouth marketing to attract new customers. Use a mix of ads, coupons, mentions on social networks and promotions. This is essential for non-chain restaurants. You will also need a marketing plan to create a brand for your restaurant.
Determine your ideal clientele and the market for them. Do not try to be everything for everyone. Instead, have a simple but delicious menu. Having fewer choices in the menu makes it easier to manage the shopping list and the kitchen while maximizing quality. If you only have a few items on the menu, you will pass through the ingredients almost as soon as they arrive, ensuring that the meals are as fresh as possible.
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Consider the layout
Many restaurants operate on a very tight margin, which requires a high volume to stay in business. You do not have to manage the style of the cafeteria, but the restaurant has to be big enough to generate a profit considering its overhead costs. Aim for an expansive but elegant layout. Select the Right Furniture Your tables must be attractive, up to the restaurant tables.
Pay attention to your numbers
There are bills to pay before opening the doors, and they will continue to arrive. Maintain a good cash flow to stay open. If necessary, look for your options for a short-term loan. Negotiate with creditors and suppliers. Pay attention to periodic bills like your taxes and your quarterly bills so that they are not lost in the reshuffle.
The key ingredients of a fast success in the restaurant industry are not what all the others do. Follow these tips, and you generate a steady flow of customers and cash flow.