Tips and Things
The Importance of Knowing Your Trade Area
"The belief that populations change slowly in times past is pure myth. Or rather, static populations staying in one place for a long periods of time have been the exception to the rule. In the twentieth century it is sheer folly to disregard demographics. That basic assumption must be that populations are inherently unstable and subject to sudden sharp changes—and that they are the first environmental factor that a decision maker, whether a businessman or politician, analyzes and thinks through."—Peter F. Drucker
The above quote from the late Peter Drucker re-enforces the need for analyzing you local trading area. Do you know what demographic changes are occurring, or have occurred in the area in which you conduct business?
When you are developing a marketing plan, focus on what changes may occur. When changes do occur (and they will), it may signal the need for a new direction in your marketing efforts. It may also indicate the need to develop a new product / service mix.
Use demographics as an additional tool. It can help you to improve sales and your profitability
Thought For The Day
The best person you interview isn't necessarily the best person for the job.
For those of you who would like to grow your own herbs and vegetables for your restaurant but don't have the room, a new product is now available. It is called the Tower Garden. This would be a terrific addition to your patio dining area. It is a unique product, it is attractive, and it is sure to become a conversation piece. You can use it to grow a multitude of vegetables, flowers, fruits, and herbs. The cost is minimal, and it pays for itself in a matter of months.
Click here for more information on this amazing product and to order. It's great for the home as well.
A Bit of Wisdom
We often complain that employees today have poor work habits, a poor work ethic, and sometimes a bad attitude. We expect them to come to us already trained and motivated. Without adequate training and supervision, it's hardly surprising that you get low productivity, bad service, waste, and inefficiency in your operations. Both management and hourly employees experience stress working in that kind of environment. You must budget adequately for the training and supervision of your employees if you expect them to be productive.
Invest in your people...
IT IS BETTER TO HAVE CASH OVERAGES THAN SHORTAGES
Although neither are great news, cash overages are often an indication of one of an operator’s worst nightmares, UNRECORDED SALES.
We are offering a FREE Restaurant Start-Up Checklist. Just send us an email at Ron@RestaurantExperts.com and request your copy.
How Much Does It Cost To Open A Restaurant?
The most frequently asked question I receive is, "How Much Does it Cost to Start a Restaurant?"
The answer is.....it depends. Asking how much does it cost to start a restaurant is like asking how much does it cost to buy a house. There are many variables and options that must be selected before you can attempt to come up with the answer. For example:
- Fast Casual or Full Service
- Free Standing or In-Line
- Restaurant ready space or shell condition.
- Landlord TI?
- Hood or grease interceptor needed?
- Size of space
Completing a comprehensive feasibility study on a specific site or geographical location will determine the capital requirements and projected sales/profits of your concept.
For more information on this subject Click Here.
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