Opening up a restaurant is in many ways a dream to their independent owners. Not only do they get to work in a field they are passionate about, they also get to do things their own way- they get to design the place, choose their own décor and decide on their own menu etc. But with this freedom, also comes a lot of responsibility. Here are some of the most common problems restaurant owners find themselves facing so you can prepare for this journey with all its ups and downs in mind.
Of course, the number one area where restaurants will suffer is financially. Opening a restaurant takes plenty of money- from renting out a place to hiring new staff and consistently making sure the kitchen is well stocked. The first few months are always the hardest and also where you’ll be running at a loss because you’re yet to build up a loyal customer base so essentially you need enough to keep yourself afloat till your setup base. This can take as long as a year!
The most important thing to consider that has a huge impact on your success is location. If a restaurant chooses a place with poor foot traffic, they’re starting themselves off on the wrong path. Do some research before you lease out a building. Next consider what you can bring to your customers to stand out from the competing restaurants and cafes in the area. Most restaurants lack an original concept so they never take flight. Instagram-worthy designs have become a priority to drag in the influencers and their masses so this is something you can start on- essentially, keep up with the current market trends!
Restaurants usually have a high turnover rate, leading to frustrating work conditions and tight schedules. Owners need to put a lot of care into the staff they hire- from the waiters to the bar staff- because loyalty should be a top priority and not the lowest wage you can get your workers for. This will save you significantly in the long run. You also need to provide an environment of opportunities and most importantly- training. From the POS hardware to the ins and outs of keeping a customer happy, they need to know all the hacks.
If you want to minimize waste and cut costs as much as possible, you need to stay on top of your inventory management. The real severity in failing to do this lies in running into supply shortages, and thus, unforeseen expenses needed to resolve the situation immediately. This would lead to a big holdup if it happens in peak business season. On the other end of the spectrum, if you have an overage of supplies, a significant portion of it could go to waste and once again, a crucial amount of your money will be wasted. You need to identify how much you need to run your restaurant smoothly and balance that inventory with consistency.
These are the most common problems you’ll find restaurant owners facing in the current day and age. Make these aspects your focus in your long-term plan to improve on your efficiency as the years go by. This will take you from a struggling start-up to a raging restaurant.