If you're thinking of opening a restaurant... focus on these 5 tips.
1. Earn customer loyalty before you earn their money.
Respect the customer's mind, offer them a good product, at a reasonable price, with a satisfactory quantity, and consistent quality. This equation is what made small restaurants succeed, and at the same time, it made big brands fail.
2. A customer who trusts you is the best advertisement for your restaurant.
Customer gain is more important than financial gain. When a customer loves your work and trusts you, they will return to you, bring their family and friends with them, and talk about you everywhere. This is the best publicity you can do.
3. Don't make offers bigger than your capacity.
Before you start any marketing campaign, make sure your restaurant is ready to receive customers. Imagine if 1000 customers came to you, and 900 of them left unhappy due to delays or quality. You have lost your reputation yourself. Start with a number you can serve professionally, and then grow step by step.
4. Monitor your accounts every day, not at the end of the month.
Know how much you've earned, how much you've spent, and how much you've profited. As soon as you let the accounts accumulate, you'll be surprised to find money gone and you don't know where it went.
5. Know the cost of every meal you sell.
You can't sell without knowing the cost of the dish or its profit margin. Your sales might be excellent, and in the end, you discover that you are selling at a loss without realizing it.
If you intend to invest in the restaurant business or have any inquiries, I would be happy to offer you a free consultation to discuss the most important opportunities and talk a little about investing in the restaurant and catering business.