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Three of the Best Investments for Restaurants

May 22, 2014

It's possible that you need to make some small-but-strategic investments to jump-start sales. Luckily, large infusions of cash are rarely needed to fill up those seats, but smart, targeted investments may be just what you need to give your restaurant a boost.

 

Your restaurant has great food and great service, but that does not mean that business is booming. In fact, despite high-quality food and service, you might be experiencing lackluster sales and a tiny profit margin that barely keeps your business afloat.

What could be wrong?

It’s possible that you need to make some small-but-strategic investments to jump-start sales. Luckily, large infusions of cash are rarely needed to fill up those seats, but smart, targeted investments may be just what you need to give your restaurant a boost.

Here are three of the best investments for restaurants.

1. State- Of-the- Art Technology

Are you still using a whiteboard to indicate which tables are occupied? Do you keep reservations with pen and paper? Tracking orders with written tickets instead of software at your restaurant? Or are you manually managing your ordering – resulting in too much or too little of certain items because you couldn’t forecast demand properly?

Modern technology is one of the best investments for restaurants because it helps to streamline the many processes and show patrons that your restaurant is a professional establishment. Customers and staff alike will appreciate the convenience and improved services and your bottom line will improve.

Perhaps it’s time for an information systems overhaul. You can use a point-of-sale system (POS) for customer check out. That POS will work in conjunction with a system that keeps track of the order for each table. As a result, you’ll be able to see which items on your menu are the most popular and, more importantly, when they are the most popular.

You can also use information systems to forecast demand, track inventory costs, and show you when you’re most likely to be successful with promotions.

2. A Stronger Marketing Campaign

If you’re not filling up the seats in your restaurant, it’s almost certainly due to the fact that not enough people have heard of your business. Why not try to change that with a stronger marketing campaign?

Running an eatery isn’t just about what happens inside the four walls of your restaurant. Success starts wherever your potential diners are. Mentions of your business and its merits need to show up in the places where target consumers search for dining information, reviews and ideas as well as where they recreationally browse for community information. And no one but you will make sure your establishment is getting the space it needs in these places.

If you’re not doing so aggressively, now is the time to start ensuring that your restaurant’s branding footprint is well developed. Strong advertising campaigns are invaluable, and are definitely one of the best investments for restaurants.

3. Improved Decor

The look and feel of your restaurant’s interior has a huge impact on your customers’ experiences. Research shows that 91% of people who visit casual dining establishments say the overall ambiance of a restaurant influences their decision to visit that restaurant. Eighty-four percent of quick service patrons say the same.

The reality is this: Your appearance influences your bottom line. Because of this improving your décor is one of the best investments for restaurants, especially those that haven’t had an upgrade in too long.
 
Start small by just painting and changing the fixtures, or invest in new tables and chairs to change the space’s feel. If you want to make a greater impact, hire a professional designer to reinvent your space and make it more appealing to the types of customers you want to attract.
 

    
       
   

   
       

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