You may know that owning a restaurant is a perfect translation of standing up on your feet and having your share of responsibilities.
You may also know that a restaurant owner will be occupied for several months before the Big Opening, working on finding the perfect design, relooking constantly into the details, sourcing the desired ingredients and the right staff, obtaining the needed licenses and doing much more within a specified budget.
Nevertheless, what you may NOT know, is that amid this sea of challenges, restaurateurs are mainly aware of the PPP, PFC and SDM concepts in order to run a successful business. Those are challenging secrets that no one tells you about.
However, what are they really?
- The PPP: “Preliminary Planning Provocations”
A restaurant opening holds every entrepreneur dream, passion and aspirations. Hence, no one, and absolutely no one, but the owner himself or herself knows what is really hiding behind the wall of the efforts they have to put in before opening up. Therefore, preliminary planning is extremely important as much as it is provocative and challenging in developing and executing a strong restaurant business strategy.
- The “PFC” : “Planning, Financing and Competition”
If you wish to open a restaurant, never underestimate the required startup capital!
For instance, fresh owners need large sums of capital to cover the leasing of a building, in addition to hiring new staff, stocking the kitchen and bar areas, and of course, buying furniture and decorating the place. In this scope, new owners must know that it can take a long period to be able to make profit covering this startup capital before turning a good income.
To be really successful, a restaurant in the first place needs an accessible location, then a theme or style that appeals to a wide range of prospective customers, and of course a very solid menu. However, the most important thing is that a restaurant must stand out from the crowd, especially those located in urban areas and face severe competitors.
Small independent restaurants in the suburbs face a violent competition and have to work hard in order to keep a good marketing level, bring new customers and build a net of clientele.
So here, we are dealing with sustainability and good guest management on the long run.
- The “SDM”: “Suppliers, Designs and Marketing Tactics”
Finding the right supplier is one of the main challenges that a start-up restaurateur can face. It costs time to evaluate a vendor’s reliability, flexibility and cost-effectiveness in a proper way.
Then, in terms of designs and marketing, it is important to find a spot in which you can expose your culinary talents. This will be your own signature and it is so important to assort designs that suit the concept you have in mind.
Finally, restaurant marketing tactics are highly related to the design and marketing itself. Thus, selecting the right marketing strategy can seem tricky, mainly if you are not experienced and still new to the world of business ownership. Having a brand message definition, increasing awareness and loyalty creation are essential to your restaurant’s growth.