Restaurant Survival Tips During the Recession- Food Trends 2011
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Do you simply want to beat recession and keep your head above the waters? Or do you want to beat your competition and stay ahead of the pack? If your answers to these questions are a big resounding “yes,” then let this article give you restaurant survival tips during these financially-trying times.
The Need to Go Lower
Though what I can see and read on the Web, one of my trend predictions for 2011 then will be that more people are growing tired of being frugal during the recession and that it is now time to spend money on high-quality foods and fine-dining experience. With what they call “frugality fatigue,” we can expect to see more diners willing to spend extra big bucks in flashy restaurants. However, not all can afford this luxury.
According to another my food trend prediction for 2011, more and more people are still going to gravitate towards restaurants that can offer them high-quality food at reasonably-priced menus. Consumers will want value for their money without sacrificing the good taste of a high-end dish.
Restaurant Survival Do’s and Don’ts
With the need to go lower so as to attract more customers, what can the chefs do to juggle price, quality, and quantity at the same time? After all, we have to adjust our business strategies to be able to cater to their demands and, at the same time, reap some revenues, too.
If we stick to our old ways, we run the risk of losing customers and revenues. On the other hand, if we take a leap and reinvent ourselves, we also run the risk of our new business strategy going flat and incurring losses along the way. For this reason, here are some restaurant survival tips as well as some do’s and don’ts on how to “go lower” without sacrificing quality.
Do’s:
- Do think of promotional actions like “everyday low price menus” to attract the interest of your customers. The menu need not be very pricey, but a very talented chef can make extraordinary dishes from ordinary ingredients. This way, quality is not sacrificed, and you need not shell out huge sums of money to purchase expensive ingredients. If it works, stick with it.
- Do look into the advantages of offering restaurant coupons. Customers are always on the lookout for such items, and since they will always be attracted by the idea of discounts and free meals, you are sure to see an increase in customer volume. This is a win-win situation for both you and your clients. You get to enjoy increased customer volume; your restaurant enjoys bigger revenues; and your clients get to enjoy discounted meals. To save you some money though, you can create meal choices that are not hard on your pocket but will give your clients the same quality and good taste.
- Do get the word out there about your promotions and special menus. For this, you will need the Internet to take advantage of social media and social networking sites like Facebook, Twitter, MySpace, among others. If you have a blog or a personal website, tell your audience about your promotions and advertise yourself. You could also get a lot of good referrals through social media and the like.
- Do invest in your customer service by reiterating the importance of customer service to your restaurant staff. It will not do your restaurant a lot of good to offer affordable meals at excellent quality if the services of your restaurant staff are below standards.
Don’ts:
- Do not listen to people who tell you that you have a crazy idea. Sometimes, the biggest rewards come from the craziest ideas, so don’t abandon your plans just because someone told you that it will not work.
- Do not do so many things at once. It is better to start small, and if what you are doing is succeeding, then continue towards a bigger goal. This way, you can keep your frustrations at bay.
- Do not get discouraged. You should know that there will be slow starts, especially when it comes to new ideas. But then again, you should always remember that good things come to those who wait. So if you pull back now, then all your efforts would have been for naught.
Do not sacrifice quality for quantity, however tempting it may be. Remember, your diners will want to see and taste quality, and if they realize that you have sacrificed quality for quantity, you might end up losing more than just your customers and revenues, but your good reputation as well.
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Australian Chef- Matthew J. Goudge is the mastermind behind the formation of the ProChef360 platform.
Great tips Chef, happy to retweet this one!
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Chef Matthew J.G Reply:
January 30th, 2011 at 8:08 am
There are ways to get through tough times. We just have to put our minds to it.
Matthew
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