More than just about any other form of business, restaurants are infamous for running on razor-thin margins. It’s for this reason that restaurants, more than any other establishment, must do whatever is necessary to consistently insure their profitability. Here are 5 simple ways you can make your restaurant more profitable, practically overnight.
1. Train your staff better. Taking it as a given that your kitchen staff is already producing food at the highest possible level of quality, you need to focus your efforts on training your front of house to up sell- guiding your patrons to higher priced items and greater food volume.
2. Embrace gadgets. You don’t need us to tell you running a restaurant is a logistical nightmare. But by keeping up-to-date on gadgets and devices you’ll be able to take advantage of advances which allow you to measure and manage every element of your business with greater detail and control than ever before.
3. Retain your best clients. This is a no-brainer, but it’s a practice so few restaurants actively pursue. By actively working to retain your best customers and encourage repeat visits you will essentially add a guaranteed level of income to your bottom line.
4. Use the internet. Your restaurant needs to do more than simply post a website and consider its online work finished. Your restaurant needs to take advantage of social media, social networking, email marketing and mobile apps to increase its visibility and to encourage return visits.
5. Multiply your streams of income. Most restaurants fail because they do one thing for money- they sell food and drinks. There are plenty of alternative methods of making money you can add on to your restaurant’s services, from catering to selling pre-cooked meals in local grocery stores.
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