If you are a restaurant owner, make sure you have all the necessary elements to operate it efficiently, for example: stoves, refrigerators and electronic equipment to process orders and collect payment, among others. It is also important that you have the proper inventory to prepare the recipes on the menu. There is nothing more disappointing than ordering a meal and being told that it is not available. Take advantage of this situation to negotiate better terms with your food suppliers and other services.
Another important element is to have the necessary personnel to operate your business and with the proper training to be able to deal with the various situations, both accidents and health, with which they may be faced. If you have any doubts about this, there are guides that can help you identify the amount of personnel you need in terms of business volume and space.
In many times of crisis, business owners first cut back on advertising and public relations – big mistake! If you don’t remind the customer about your service and offers, they won’t buy from you. You have to stay in your customers’ minds, so use social media to reinforce your message and present your offer.
If you have lost business, you must be even more disciplined in maintaining control of your operation. It is very important that you keep an effective inventory control, doing physical inventory at least once a week. You must also maintain control of sales. Everything served in the establishment must be accounted for and must match the amount that arrives at the bank.
On the other hand, the pandemic has increased home delivery service or sales by service. If you don’t have the option of establishing a servicer, make use of businesses that deliver to your home. Although this can be an expensive service for a restaurant owner, it is better to make a sale than not to make one. The pandemic has caused a large number of sales to be made by this method.
Evaluate your prices! They must be competitive in your same restaurant category. In addition to covering your expenses, the price must be attractive to your customers. Remember that the volume of sales is what will make you a successful restaurant.
Finally, consider renegotiating the terms of your lease with your landlord. It is better to keep a good client than to have an empty property. You can also renegotiate the contract so that the rent is an “overage”, that is, the fixed rent is low and the difference is paid at the end of the year. For example, you agree to pay 5% of the sale, if you reach a certain volume of sales. You pay 3% of sales monthly and if you reach the agreed amount, at the end of the year you pay that additional 2%.
Take control of your business and if you need financial assistance, we at El Tardeo are ready to help you in this process.