Can you take the heat in starting up and operating a restaurant?
An increasing number of consumers either want to dine out or take prepared food home. The number of food service operations has skyrocketed in the last 30 years. Changing lifestyles are driving the food service industry. There is, though, plenty of room for growth in the world of dining; from fast food franchises to theme restaurants to the upscale restaurants, bars and clubs. While this increasing trend bodes well over all for the food industry, there is no guarantee of success.
Operating a restaurant has its challenges and rewards. The cost of operation is a major hurdle. A restaurant’s expenses can include:
Working capital or cost of startup, to run your business is a major necessity. This cost can involve expenditures for marketing & advertising, maintenance, professional services, employee salaries, inventory, loan repayment, etc.
There will also be financing of equipment to operate the restaurant such as kitchen systems and other tools of the trade. The entrepreneur can also count on outlays for dining needs such as tables & chairs and booths, dishware, silverware, stemware, etc.
To make sure the restaurant operates efficiently, the business will need a solid POS system to collect money and manage the floor, kitchen and bar. Without a good system, what could be a streamlined operation can turn into a fiasco. Make sure your POS system meets all the business’ needs.
Tips for Successful Operation –
- Optimize your staff scheduling, maintain up-to-date costs and evaluate profitability
- Be sure your equipment aides in the efficiency of operation
- Focus the staff on delighting the customer and not in dealing with the problems
- Choose the right neighborhood for the specific setting and menu
And remember the four P’s for business success:
Bon Appetit! If you have any questions about financing your operation, contact the Financial Specialists @ (888) 511-6223