Earning in the restaurant business can be challenging especially in the first couple of years. But once the Return on Investment has been made, the next question becomes “how to move forward with your restaurant business?”
With the steep competition, ever increasing cost of raw materials, plus marketing trends that come with a price, this question can be a tough one to answer.
Entrepreneur.com came up with tips on how to make a restaurant more profitable. In their article they came up with a dozen tips to make a restaurant increase its profit. One of the strategies that they mentioned is Influencer Marketing. How To Franchise A Restaurant
“Influencer marketing. By tapping into local celebrities with large blogs and/or social media followings (“influencers”), restaurants can promote their business via this modern word of mouth marketing. Reach out to the top food bloggers in your city via email or social media and invite them in for a special menu item (on the house). Let them know you’re interested in being featured on their blog or social sites if they enjoy everything. Have the owner or chef take care of them and explain the meal thoroughly, then send them on their way — hopefully your food is up-to-par and you get a positive review to their thousands of local fans.”
Check out the rest of the tips here.
The Balance meanwhile came up with an advice for small restaurants and startups on how to move their restaurant forward and prosper in the food industry. One of the pieces of advice that they gave is marketing the restaurant.
“Building a solid social network through sites like Facebook and Twitter, as well as a restaurant website, are inexpensive ways to market your restaurant. Periodically running print or radio ads around the holidays and other special occasions are a good way to bring in business without breaking the bank. Catering services are another way to reach a broader customer base. You already have the resources for feeding large parties of customers, why not offer to cater parties, wedding, and other events. You can increase sales and market your services at the same time.”
Check out the rest of their tips here.
Growing a Restaurant Business
Forbes.com for its part published an in depth interview with a successful London Restaurateur who did not think twice about dishing out advice on how to be successful in the restaurant business.
One of Des McDonald’s advice for restaurant owners is to learn the ropes of the restaurant business.
“‘I like team sports and the kitchen isn’t dissimilar to the rugby pitch: it’s all about communication, discipline and structure. But I still went out and trained. My father got me in at the Ritz but I still went on a day-release course to get that structure, and my 17-year-old daughter has gone to Westminster College, because that’s where I went and I still firmly believe young people need that extra education and discipline. I see young chefs cooking burgers or cooking Thai food for four or five years and that’s all they ever know – they don’t have a broad knowledge of butchery, fishmongery and so on. Before you start refining your art, you need to do the hard graft in all areas. That also allows you to respect colleagues in areas you might not specialise in yourself.’”
Read the rest of his interview here.
Moving forward with a restaurant business may be a daunting task, but it sure is something that is attainable with the right knowledge, hard work, focus and dedication.