Monthly Archives: May 2011
Unfortunately, even as the economy comes back (slowly, slowly) the new shopping behavior from consumers isn’t likely to go anywhere- people have gotten very used to expecting discounts, coupons and lots of price cutting from retailers trying to win their business and they are still very much using price as a determining factor on where to eat.
Although you want to get away from discounting and couponing as much as possible you may still need to do it to some extent to attract new customers and ensure a regular flow of business to your location. But that doesn’t mean you have to just suck it up and take it!
Don’t think of coupons and discounts as simply a cut in … Keep reading
As a restaurant consultant I talk to people all the time with good ideas and original concepts who are still hesitant to get involved in starting a restaurant because they feel it is beyond them to make it happen.
In fact almost anyone can do it but it does require having experienced help and lots of planning if you want it to work out right. I provide the resources and tools to make it easy for anyone to realize their dream. If you have questions, just ask. What follows are … Keep reading
I often am asked about some of the basics of creating a restaurant business plan such as what the sections should be and in what order and more fundamental things like what font to use, the font size, etc. So I will give you my standard answers here:
Business plan format- sections:
- Cover page with contact info
- Executive summary
- Business Info
- Owners/Management Team
- Financial Summary
- Supporting Info
This is the layout I use but it is not set in stone. As long as you have all the information presented, the order isn’t that important. People expect to see the executive summary first and the financials last but beyond that it is really trivial how you … Keep reading
Restaurant industry sales are expected to grow 2.6 percent in 2011, according to Technomic, a Chicago-based consulting firm.
And, as I wrote about yesterday, the big trends don’t have to necessarily be reflected in what you are experiencing. Despite the last three years being a very difficult time for the industry overall:
Restaurant industry sales fell 3 percent, to $343 billion, in 2009, the worst decline in a generation. Paul noted that despite the 2010 gain and expected increase this year, the industry still is below the 2008 peak … Keep reading
Conventional wisdom and the reality of the market might have indicated that the last three years have been a terrible time to start a new restaurant. That would make it a really, really bad time to open four of them. But then you would be wrong.
There is always going to be a market for the right concept in the right location even if other restaurants may be struggling or closing their doors. If you find the demand and have the supply to meet … Keep reading
I came across a list of suggestions for how to deal with employee theft as well as how to try and prevent it in the future. I have my own ideas based on firsthand experience with both my own employees stealing and helping other managers track down and solve their own theft problems. The bullet points come from the article but the added thoughts are mine.
Some tips on how to confront an employee who is stealing:
Make sure you have adequate proof. Yes- nothing looks worse and damages moral more than accusing someone of stealing only to find out they can prove they weren’t and you either made a mistake or blamed the wrong person. Be sure first, even … Keep reading