Top 5 Ways To Keep Your Restaurant Thriving

Posted Tuesday, October 30 2012 by admin

The life of a restaurant owner can be a rewarding and challenging one. Long hours, diligent staff management and ever changing technology updates can cause stresses but are also the recipe for success in an industry where remaining innovative and relevant are key. At 1st Merchant Funding we work with some of the most impressive and successful restaurateurs in the business and have compiled a list of tips to ensure a thriving restaurant.

Know your guest.
Before your restaurant opens you might think your brand will appeal to one demographic of guests but find after your doors open you’re looking at a totally different segment of the market than you had thought. It’s important to find out why your guests come to your restaurant. What is your signature dish? Why is your atmosphere appealing? Asking your customers regularly what it is about your restaurant that keeps them coming back keeps your equipped with the most valuable information you could possibly have for growth.

Don’t follow trends.
Trust us. Stick to what you know and what you do well. Trends in the restaurant industry will come and go but your customers will let you know what it is that sets you apart from the rest.

Listen to your staff.
Checking in with your staff regularly. Whether it’s a quick meeting or an informal conversation, communication is essential to smoothly executed operations. It’s important to let your staff know that they are appreciated and that they will always have the opportunity to let their voice be heard. If you have solid rules in place as well as an active rewards and consequence systems in action your staff will be able to work together as a team which ultimately means more sales and better customer service.

Build your brand for growth.
When constructing your business plan and branding it’s important to make sure that your restaurant can be easily duplicated and recognizable to customers if you choose to open more than one location. Strong systems in operations, staff management and marketing are all essential to growing your brand.

Consider a cash advance.
Although the idea of a traditional loan can be very complex and time consuming, at 1st Merchant Funding our cash advances make qualification quick and easy. Often times, a restaurateur can receive their money in 2-3 days. The old adage remains true; You must spend money to make money, especially if you’re thinking of adding a second location, building on to your existing location, upgrading your appliances or even strengthening your brand with a new marketing campaign. 1st Merchant Funding believes in your dream as a small business owner – do you?

To find out more about these tips and how 1st Merchant Funding can aid in growing your restaurant please call 866-710-BANK (2265).