Today I will help answer the question: How to prevent your restaurant from joining the "almost made it" restaurants?
The restaurant industry is one of the most competitive industries on the planet. There are roughly one million restaurants across the country. "According to Modern Restaurant Management and the National Restaurant Association, 60,000 new restaurant locations open each year. However, 50,000 restaurant locations closer their doors each year."
It is no question that opening a new restaurant has its challenges especially when you are an independent restaurants or small chains. The good news is once you get started and the first few years of being open fly by most likely your restaurant will thrive for a long time.
Common Reasons that Restaurants Fail:
Luckily there are ways to prevent common mistakes like these.
The area you live in or decide to become apart of the restaurant industry is a vital part of opening up a business. You need to understand the level of the competitive environment because it can have a huge impact on your success or failure. Identify trends going on in that town, neighborhood, or city and be able to adapt to changes that go along with meeting the consumers' wants and needs.
Understand Your Customers
Going off of the first way of preventing even if you do a great job at researching the area and differentiating your restaurant it will not matter if you miss the opportunity to research your possible consumers in that area. You as a business owner want to expect what their wants and needs are and go beyond that. To help with that you put yourself in their shoes. Figure out their profiles and seek out patterns. Listening to customers and give them the chance to provide feedback on the service and food you offer. You will discover what you are doing right and wrong and then go from there.
Sources:
1. 10 Ways How Restaurants Failure Can Be Avoid. (2015, March 20). Retrieved from https://possector.com/management/restaurant-failure
2. 4 Ways Restaurant Analytics Can Make Your Business More Profitable. (2017, October 16). Retrieved from https://www.datapine.com/blog/benefit-from-your-data-with-restaurant-analytics/
3. Wickford, H. (2018, April 13). The Average Life Span of a Restaurant. Retrieved from https://yourbusiness.azcentral.com/average-life-span-restaurant-6024.html
The restaurant industry is one of the most competitive industries on the planet. There are roughly one million restaurants across the country. "According to Modern Restaurant Management and the National Restaurant Association, 60,000 new restaurant locations open each year. However, 50,000 restaurant locations closer their doors each year."
It is no question that opening a new restaurant has its challenges especially when you are an independent restaurants or small chains. The good news is once you get started and the first few years of being open fly by most likely your restaurant will thrive for a long time.
Common Reasons that Restaurants Fail:
- Poor knowledge of competition
- Wrong location
- Poor restaurant promotion
- Poor inventory and staff management
- Lack of original ideas
- Low start-up capital
- Owner is experienced
Luckily there are ways to prevent common mistakes like these.
Differentiate Establishment from the Competition
The area you live in or decide to become apart of the restaurant industry is a vital part of opening up a business. You need to understand the level of the competitive environment because it can have a huge impact on your success or failure. Identify trends going on in that town, neighborhood, or city and be able to adapt to changes that go along with meeting the consumers' wants and needs.
Understand Your Customers
Going off of the first way of preventing even if you do a great job at researching the area and differentiating your restaurant it will not matter if you miss the opportunity to research your possible consumers in that area. You as a business owner want to expect what their wants and needs are and go beyond that. To help with that you put yourself in their shoes. Figure out their profiles and seek out patterns. Listening to customers and give them the chance to provide feedback on the service and food you offer. You will discover what you are doing right and wrong and then go from there.
Sources:
1. 10 Ways How Restaurants Failure Can Be Avoid. (2015, March 20). Retrieved from https://possector.com/management/restaurant-failure
2. 4 Ways Restaurant Analytics Can Make Your Business More Profitable. (2017, October 16). Retrieved from https://www.datapine.com/blog/benefit-from-your-data-with-restaurant-analytics/
3. Wickford, H. (2018, April 13). The Average Life Span of a Restaurant. Retrieved from https://yourbusiness.azcentral.com/average-life-span-restaurant-6024.html
Olivia,
ReplyDelete1. I liked that you chose to write about how to avoid failing at opening a restaurant because I think that is very relevant content considering most restaurants fail within the first five years of opening. I think you did an excellent job of finding content to write about that the public will want.
2. I also really liked that you included a discussion about solutions to the problems that cause restaurants to fail. This topic will also be one that many will want to read about, and it is interesting as well.
3. According to Jay Bear, founder of Convince and Convert, in 11 Must-Dos for the Serious Blogger it is important to “where possible, don’t just ramble, be helpful.” The substance in your post was very useful to the reader and you did not ramble. Your post was relevant, interesting and informative.
1. I did find one spelling error, so I would recommend revising before publishing a blog post. It is important to avoid spelling and grammatical errors because bloggers lose credibility with readers when readers notice these mistakes.
2. Bear also writes, “Whether you’re solo or part of a group blogging effort, being personal and showing yourself is critical. If people want to read content created by a nameless, faceless entity they can read a newspaper. Blogging is PERSONAL. That’s the whole point. I think your post is excellent but if I was to give one more constructive criticism point it would be you could make the post more personal, but I don’t think this is necessary because your content was great. But this could be another possible improvement for your post.