Finding innovative solutions for challenges in the restaurant business

October 25, 2018

You’ve probably heard that 90% of restaurants fail in their first year. Turns out, that’s a myth–when some economists actually crunched the numbers, they found that only 17% of full-service restaurants failed in their first year. But that doesn’t mean the life of a restaurateur is easy. The median restaurant still only lasts 4.5 years. If you’re hoping to beat those odds, you’re going to need some solutions to common problems restaurants face. Keep reading for advice on how to turn your problems around.

Money and security

Let’s start with the basics. Any business needs money to keep the doors open. Unfortunately, because of the perception that restaurants are riskier than other types of businesses, it can sometimes be tough to get bank loans. Here are some tips on how to solve your cash problems.

Staffing woes

Employee turnover is a chronic problem in the restaurant industry. And turnover is expensive—not just because it’s expensive and time-consuming to hire and train new employees, but because ineffective or unmotivated employees can severely damage your brand. Here are some strategies for retaining your employees and improving morale.

Customer concerns

Customer service is crucial to any restaurant’s success. But restaurants are also fast-paced, high-pressure environments. Every single ticket is another opportunity to wow somebody—or disappoint them with a late or subpar order, or a frustrating interaction with waitstaff. Here are some tips on improving your restaurant’s customer service.

Marketing issues

When business is good, it’s easy to let marketing slide. Customers are finding you, so why worry? But doing that creates a feast-and-famine cycle where you’re always scrambling when things are slow. Better to have a clear branding and marketing strategy and stick to it in good times and bad. Here are some tips for strengthening your restaurant’s brand.

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