How to make my restaurant successful
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The restaurant business is a tough business, Owning and running a restaurant is not as fun as it sounds. It is hard work and long hours with a huge amount of pressure and stress.The rate at which new restaurant businesses fail can be enough to strike fear
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How to make my restaurant successful
- 2. *Statistics from „Why Restaurants fail‟ – Parsa et al 2005 Restaurant failure by year of operation 26.16% 19.23% 14.35% YEAR 1 YEAR 2 YEAR 3 hospitalitytrainingpartnership.com
- 3. *Statistics from „Why Restaurants fail‟ – Parsa et al 2005 Independent and Chain failure rate 27.51% 24.06% 19.62% 18.62% 14.23% YEAR 1 YEAR 2 Independent 14.54% YEAR 3 Chain hospitalitytrainingpartnership.com
- 4. • Limited resources • Unprepared for rapid growth • The greater economies of scale afforded to chains makes them more secure • Banks are less generous to smaller businesses hospitalitytrainingpartnership.com
- 5. • Restaurant clusters can make competing effectively difficult • • concept Inability to differentiate • “The most important criteria for success is management – they direct the marketing, quality and decide when to adapt” hospitalitytrainingpartnership.com
- 7. What do successful restaurants do/have? • A successful restaurant requires focus on a clear concept that drives all activity • This is more important than strategy – as long as the concept holds the strategy can be fluid • The concept needs to go beyond the food product and include both customer and employee relations hospitalitytrainingpartnership.com
- 8. What do successful restaurants do/have? • Running a restaurant is a highcommitment and high energy job • Pro-actively make time for family • Successful restaurateurs don‟t let themselves burn out hospitalitytrainingpartnership.com
- 9. What do successful restaurants do/have? • Understand all key elements of the business • Implement and monitor systemisation of key tasks • Understand and respond to the market conditions hospitalitytrainingpartnership.com
- 10. What do successful restaurants do/have? • A bad location and other external factors can be overcome • Low quality food cannot • Customer experience is vital The answer is yes. What‟s the question? hospitalitytrainingpartnership.com
- 11. What do successful restaurants do/have? Relationship marketing • Be involved in your local community • Build relationships with your customers • Don‟t waste money on large advertising campaigns • Word of mouth wins hospitalitytrainingpartnership.com
- 12. What do successful restaurants do/have? • Training • Diversity • Personality hospitalitytrainingpartnership.com
- 13. What do successful restaurants do/have? • High quality training programmes including managers, chefs and front of house • Staff understand hospitalitytrainingpartnership.com
- 14. What do successful restaurants do/have? • A team that reflects your community • Staff that work well together as a team • A team that complements each others strengths and weaknesses hospitalitytrainingpartnership.com
- 16. Pitfalls successful restaurants avoid • Many profitable restaurants fail, because they run out of cash • A clear plan needs to be in place for when growth arrives • This is particularly important for new restaurants hospitalitytrainingpartnership.com
- 17. Pitfalls successful restaurants avoid • Failed restaurants often have extensive strategies in place • Aren‟t paying attention to what‟s happening around them • To be successful you must be adaptable and respond to your surroundings hospitalitytrainingpartnership.com
- 18. Pitfalls successful restaurants avoid • All members of the team need training, including: • Staff • Managers and hospitalitytrainingpartnership.com