Why do some restaurants make it and others fail? Successful restaurants must have the following 5 Core Components. Does yours?
- Leadership – the clear vision in which you steer your employees to peak performance.
- Hospitality – the backbone of your business culture shown by the warm, friendly and generous reception you show to your employees, customers, vendors and community.
- Systems – the instruments that takes decision making off your staff and allows you the freedom to take time off, build your business, or pursue other ventures.
- Unique Personality – the power to stand out over your competition.
- Virtue – the genuine drive for excellence with a mission of running a clean, ethical, professional business.
Reason One: It’s a Losing Battle
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| FOOD PRICES |
Let’s face it. Costs never go down.
When you think about all the costs involved with operating a restaurant, there can be a lot of areas to worry about. Payroll and labor costs. Equipment costs. Utility costs. But right now, it’s escalating food costs that have restaurant owners most concerned.
According to the United States Department of Agriculture, (USDA), consumers will see food prices rise throughout 2014. After remaining relatively level at 1.4 percent in 2013, prices could jump 2.5-3.5 percent in the coming months. Although this range is close to the historical norms, the effect on your bottom line is what really matters.
Due to the sensitive nature of increasing pricing in your restaurant, passing the burden onto your customers by raising prices, is a slippery slope.
It’s easy to focus on rising costs and the factors causing the rises, however, this is stressful and unproductive. It is not doing any good to focus solely on the things that are out of your control.
Now, I’m not suggesting that you shouldn’t be concernedand keep an eye on your costs. All successful business operators must do so, but there must be a balance.
I am suggesting that by taking charge of what you can control, your restaurant will attract more customers and keep more of them coming back time and time again.
Your time is much more valuable when you focus on what you can influence and control.
Use your energy to focus your resources to make positive changes that will grow your topline business revenue.
Imagine the possibilities when you invest the majority of your attention on strategies that will help you to move forward.
These are things you can control and influence. I am talking about:
- Investing your efforts on creating happier customers, repeat customers and increasing revenue.
- Focusing on the things in your restaurant that are costing you money and don’t have to be.
- Using proven strategies that that will make your business more valuable today, tomorrow, and when you are ready to sell.
You will read about these and more strategies later in this report.
To download full report on 5 Reasons Why Restaurant Owners Should Not Be Worrying About Rising Food Costs click here Combating Rising Food Costs
