The restaurant industry is highly competitive and optimizing every aspect of your small business is more important than ever.  Here we’ve compiled some key aspects that restaurant owners should focus their attention on in order to attain success creating the perfect restaurant.

Menu

Many restaurants serve pre-packaged and canned goods as part of their dishes, this is a practice that can destroy your business.  Most owners point to the time saved and convenience of these items but they are doing much more harm than good.  Pre-packaged items are typically lower quality than freshly made ones and they lack originality.  While there are certain cases you can get away with using one of these items it is a best practice to avoid them whenever possible.  When people go out to a restaurant they expect quality products and it’s easy to tell when something hasn’t been freshly made.  Crafting the majority of your ingredients in house can increase restaurant quality and revenue and deliver a much higher quality product overall.  This is also a strong marketing point and will draw in customers with discerning tastes.

Staff

The restaurant industry is unique and finding staff that fit your needs can be difficult.  It’s important to invest enough resources to bring in the best talent.  Hiring the wrong individual for your company is costly. Last year, a CareerBuilder survey found that 42 percent of businesses said hiring the incorrect person cost the company at least $25,000, while 25% of businesses reported losing out on at least $50,000. Bad hires can even happen to the best of companies, whether they're renowned brands or Fortune 500 companies. The costs of making a bad hire can be exponential in both time and money. The related expenses can quickly and unexpectedly eat into business cash that is budgeted for other things. To avoid the costs of making bad hires, it may be necessary to invest in modern technologies and professionals with expertise and experience in hiring protocols.

Décor

From the inside out, your establishment is a reflection of the business you are trying to attract.  Though the saying “don’t judge a book by its cover” has its relevance, when it comes to a restaurant, nothing could be further from the truth.  When people are driving by with a hungry family or looking for a place to melt away a stressful day, an attractive exterior can draw them in.  Imagine what a fresh coat of paint and new landscaping could do to help your bottom line. Or you could think bigger, perhaps adding a patio for outdoor entertainment.   An inviting outdoor space can help turnover tables inside and make room for larger parties and events that will bring in loyal customers for years to come.  The interior of your establishment should be warm and inviting.  Comfortable seating, appropriate lighting and decorations that fit the theme of your restaurant is essential in creating the perfect atmosphere.

Marketing

The marketing world has changed drastically over the last decade with the influx of digital technology to help distribute and analyze your marketing initiatives.  An investment in digital marketing technology, paid social advertising and content creation have proven to provide a significant boost to the reach and awareness of small businesses.  Often times restaurants lack the staff or infrastructure to carry out a well organized and optimized marketing plan.  In this case it may be advantageous to invest in an outside marketing firm to develop and implement your campaigns.  This will require an initial investment that may not fit into your current budget, but the potential returns can be significant.  More and more small businesses are adapting these technologies and strategies.  In order to keep up with the competition the importance of an increased focus on new marketing techniques can’t be underestimated.

Quikstone Capital Solutions has been providing small business owners with merchant cash advances to stabilize and improve their companies for more than 10 years.  If you are in need of a cash to cover unexpected costs, or if you’re looking to make long overdue improvements, a merchant cash advance could be right for you.  With the ability to quickly qualify and get your money in a timely fashion, there is no more convenient option.

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How to Grow Restaurant Revenue