Restaurant and Bar establishments are a complex and highly competitive business.
There are many reasons why certain restaurants/bars fail…
In working with restaurants and bars, I’ve come to find out there are essentially 5 reasons why restaurants and bars fail to grow their business.
- Lack of time
There is the single biggest complaint we hear. You’re stressed for time. You barely have time to serve your patrons, manage employees, much less market your business. Not to mention enjoy time with your family.
- Lack of Systems
There are several systems business must have to supports the lifestyle the owner-operator wants to lead, rather than one that dominates his or her life. For things to run consistently and smoothly, there must be systems and procedures and staff training.
- Lack of strategy
From a legal perspective, a comprehensive strategy to grow your business, minimize risks, and protect your proprietary assets is essential to your long-term success. Otherwise you and your team lack direction.
- Unaware of true costs of food and beverage
- Wearing too many hats. Business owners often try to cut costs by doing everything themselves. Focus on what you do best. Use professionals for things that make sense. You will get more ROI than you realize with experienced people consulting on your executive team.
These pitfalls can be avoided so you can create the business you dreamed of when you opened.