In order for your restaurant to succeed, you always need to keep an eye towards growth. While your goal may not be to open a string of restaurants or make millions of dollars, if small businesses stay stagnant, they tend to fail. Here we’ve outlined six ways to grow and expand your restaurant business.

Update Your Business Plan

If you don’t currently have a formal business plan, the time to create one is now. A business plan will give you guidance on everything including finances, operations, inventory, staffing and marketing. If you do have a business plan, it should be updated periodically, at the very least once a year.

Create And Implement A Marketing Plan

A comprehensive marketing plan will guide all of your marketing efforts for a twelve-month period.  This should include a summary of your company, revenue and customer goals, analytics on what it will take to reach those goals, and of course, the strategies and campaigns you will implement to get there.

Upgrade Your Technology

Technology plays a major role in nearly every industry these days, and there are many things that can help your restaurant operate more efficiently and profitably. Software such as point of sale systems build specifically for your restaurant, inventory software, marketing automation and accounting software can all help guide your company towards growth.

Build A Professional Network

The saying, “It’s all about who you know”, rings especially true for small business owners. The right connection can help bring in new business, cultivate ideas, collaborate on marketing campaigns and teach you the ins and outs of your industry. Attending local events and leveraging social media are great ways to build and maintain a professional network.

Open A Second Location

Before opening a second location you’ll want to ensure your current establishment is already performing very well. Once that is nailed down, you’ll want to perform market research, find the right location, obtain funding and ensure you have reliable and trustworthy staff to run day to day operations in your absence.

Offer Delivery And Catering Services

More and more people are trading in going out to restaurants for meal delivery services and that trend is cutting into restaurant profits. Offering delivery and catering services can help to balance that out and open up your restaurant to an entirely new customer base.