To say the restaurant business is tough would be an understatement. Less than half of all new restaurants survive beyond five years. However, that shouldn’t deter you. With the right business model and resources, your restaurant can become a mainstay in your community.
There may not be a cookie-cutter map to success, but there are things you can do to help your restaurant’s chances. This short guide to opening a restaurant will make launching your small business a bit easier.
Create a business plan.
The first step to starting a business is writing a business plan. Writing a business plan allows you to see your restaurant’s chances of success in advance. Indeed, you might discover there’s no market for your business. It’s better to find that out through research than to find out the hard way.
Another benefit of developing a business plan is you can get an idea of your startup costs. Moreover, you can make projections about how and when your business will become profitable.
Create an e-commerce platform for your restaurant.
Your restaurant needs a system for taking online orders to thrive these days. Mobile ordering has become a growing trend due to the COVID-19 pandemic. Some day, online food orders could become as prevalent as on-premise orders.
It’s imperative to shop around for the best online ordering system for your business. Online ordering for restaurants could be the perfect system for your establishment. Explore an online ordering system that is affordable for small restaurants. Additionally, find a POS integration solution so that you can combine your online ordering from your restaurant’s website with third-party ordering platforms like DoorDash, Postmates, and GrubHub.
Build partnerships with suppliers and other businesses.
Building partnerships with the right suppliers is also integral to your restaurant’s success. Finding the right suppliers could help you to get great deals on products and enhance the customer experience.
You might want to consider hiring a consulting agency to help facilitate relationships with partners and suppliers. They can help you to find affordable vendors and identify businesses in other industries with which you can partner for promotional purposes.
Dedicate yourself to digital marketing.
Digital marketing has become the most popular and powerful way to increase brand awareness. Indeed, using social media, blog posts, and pay-per-click ads are all great ways to increase online visibility and drive traffic to your restaurant’s website.
The best thing about digital marketing for small restaurants is that it’s affordable. You can market for little to no capital and bring your food to the masses. You can even use your social media profile to take orders and offer special promotions and coupons for online orders.
It’s a good idea to entrust your digital marketing needs to an SEO agency. They can employ tools and tactics designed to increase your online visibility and online sales.
As a restaurant owner, there are also ways you can help the environment. Going green can benefit your business and the environment. You could switch to solar energy and implement a recycling policy for your business.
Another great way to help protect the planet and make an extra buck is collecting used cooking oil and selling it. That’s right—that stuff in your grease traps can become biofuels and other products. As you can see, you can play a part in saving the planet and increase your revenue.
The restaurant industry is one of the most competitive businesses in the United States. It’s necessary to take every avenue to gain an edge over your competitors. Creating a business plan, investing in e-commerce, and committing to digital marketing is central to your eatery’s success. Furthermore, it’s a good idea to be as green as possible and help the environment. If you follow these tips, you could be toasting to your restaurant’s continued success years from now.