Creating a sustainable business that can provide for their family is the goal of many restaurant owners.  Being proactive and acquiring small business funding to improve your equipment, facilities, technology and staff while your company is doing well is a much better approach than waiting for things to go downhill.  A business cash advance is great for emergencies and turning things around but growing your business by providing the working capital necessary to seize opportunities is the best use of small business funding.  Here we take a look at five categories that will help you create a sustainable restaurant business.

Energy Efficiency

An investment in energy efficient appliances and lighting can create long-term savings and do wonders for your reputation.  Green business practices reduce overhead and help to save the earth. With environmental enthusiasts dominating the ranks of the younger generations, restaurant owners are wise to pay close attention to this trend.  Many consumers seek out green businesses and will go out of their way to frequent them.  This can broaden your reach and increase your customer base.  Some things to address are lighting, cooking equipment, refrigeration, air conditioning, heating and even building materials. 

Inventory

Controlling food costs, negotiating with suppliers, eliminating waste and having cash flow to capitalize on seasonal inventory opportunities are all vital to the profitability of your restaurant.  Inventory management software can make tracking and analyzation easier, but a human touch is still needed to maximize your inventory.  You may need to adjust your menu to fit the seasons, develop connections with suppliers to improve your negotiating stance and acquire small business funding to give you the ability to buy in bulk and move quickly on fleeting opportunities.  Much like implementing energy efficient practices, reducing waste, donating food and recycling can determine whether or not someone will support your establishment.

Accounting

“Restaurant accounting is one of the most important aspects of making your business successful but is often overlooked (or avoided) because it can be difficult tracking and making sense of all those numbers.”  Keeping accurate track of your spending and revenue is at the core of sustaining a profitable business.  Accounting software can help you manage payables, receivables, payroll and pricing and even help identify theft.  Even if you employee a full-time accountant, investing in accounting software will make them more effective and efficient while providing you the transparency needed to make you, as the owner, comfortable.

Marketing

With so much competition restaurants can no longer survive on word of mouth alone.  Hiring an individual or agency to run your marketing campaigns will help you get the most out of your investment.  Building brand awareness, educating, entertaining, promoting events and engaging with your audience are all necessary to create a loyal customer base, which is integral in establishing a sustainable business.  Online and in-store marketing works best for the restaurant industry these days, but there is still value in television, radio and print advertising.  Digital marketing tends to be less expensive and social media platforms allow you to communicate directly with your target audience.  Marketing is one of the top ways to use funding to grow your restaurant business.

Leadership

It starts at the top, and just as in any other business, strong leadership will be needed to guide your restaurant into the future.  Taking time to develop company culture and connect you’re your staff will make them feel as if they are a part of something great.  Leading by example is still one of the most effective ways to get the most out of your employees.  Don’t be afraid to jump in and help and ensure your team has the tools necessary to do their job.  Being proactive and taking the initiative to make changes and improvements prior to experiencing struggle can make or break your restaurant.  A business cash advance from Quikstone Capital can provide you the flexibility to make your vision a reality.