The great advantage you have is you are doing a restaurant business plan now is that you don’t have a huge legacy operation to try and shift in a new direction. You can see what restaurant trends are happening, what is working and what isn’t and adjust accordingly while everything is still on paper instead of built and hugely more expensive to shift.
If you are already down the path, then hopefully you find yourself in a situation that has adapted to the new reality of doing business. While on the one hand things don’t change that much, on the other hand they do and you need to make sure you are in the fork of the river that is growing and flowing and not the one that is drying out to nothing.
Kodak was huge, dominant and owned a monopoly on a whole industry for decades. But then things started to shift and they didn’t react. They waited too long and by then it was too late for them to turn things around. It wasn’t because they were dumb or that they didn’t work hard- they just didn’t recognize that the old way of doing things wasn’t going to cut it any more and what people wanted and epxected was shifting.
Don’t let your restaurant be the Kodak of you area.
As digital cameras gained popularity, Kodak stuck to what they believed. They sneered at digital’s quality, righteous in their knowledge that Americans would NEVER give up shiny pictures for their photo albums.
Today, cell phone cameras take most of the pictures and they are rarely printed. Kodak will shut the doors, correct in their assertion that professionally developed pictures look better than low-resolution versions uploaded to Facebook.
Being dead and correct is not a great strategy. Today chain restaurants are either growing or dying much the same as Kodak. Simply look at restaurants that filed bankruptcy of late: Claim Jumper, Mr. Pita, Friendly’s, Chevys, Sbarro, Perkins. They are not all dead but they have been far from right.
Quoted Article Source Link: FobBoh
