• Home
  • Blog
    • Resources
    • Business Partner Magazine Archive
  • About Us
    • Cookie Policy
    • Disclosure Policy
    • Privacy Policy
    • Terms of Website Use
  • Contacts

Business Partner Magazine

Tips and advice for entrepreneurs, start-ups and SMEs

  • Business Success
  • Marketing
  • Finance
  • Employees
  • Technology
  • Start-up
  • Productivity
  • Communication

How Savvy Restaurateurs Get Ahead

April 19, 2019 by Contributed Post

Click here to get this post in PDF

Too long to read? Enter your email to download this post as a PDF. We will also send you our best business tips every 2 weeks in our newsletter. You can unsubscribe anytime.

Enter your NameEnter your Email Address
Dressed dining table in restaurant

Restaurants are places of joy, where great food brings great people together for a meaningful meal experience. From the simplest fast food joint to the priciest of high-end steakhouses, restaurants here in Canada and all around the world are everyday places with enormous power to make our lives and our experiences better. It’s no wonder, then, that some of us grow up dreaming of owning a successful restaurant of our own. Opening a restaurant in Canada is an act of passion and faith.

But it’s also a risk. It’s obvious why entrepreneurs are drawn to restaurants, bars, and other food service and hospitality businesses, but it’s also obvious that such businesses are not the easiest sort of things to keep afloat, much less succeed and grow with. Restaurants are notorious for their thin margins and their tendency to shutter early on. Yet some restaurateurs manage not just to survive in this brutal business, but thrive. How do they do it? What separates a successful restaurant from the pack, here in Canada and around the world? Here’s what makes the best in the business different from the rest.

They know how to cut costs

Thin profit margins are a way of life in the restaurant industry, but they don’t have to be the undoing of your business. You can increase profits without raising prices in the same way that is possible for virtually all businesses: cutting costs.

In the restaurant business, efficiency is the name of the game. The best restaurateurs know how to streamline things to save both time and money. They know to hire employees who can handle multiple tasks flexibly so that short-staffed days are easier. They know how to minimize not just the amount of supplies needed, but the types, so that confusion over eight different types of spoons won’t slow down the wait staff. The smarter you are about supplies and costs, the better off you’ll be.

They know when not to cut costs

Knowing how to cut costs is a valuable skill, but it’s not one that you should exercise all of the time. Sometimes, there’s nothing more expensive than being cheap.

Savvy restaurateurs know to splurge on key things that enhance the customer experience. They know which ingredients are most important, and they spend the most on them. They know that being proactive about maintenance will keep their restaurant comfortable and functional, and minimize the likelihood of any big issues that will require disruptive repairs to fix. They know that keeping employees happy is less costly than employee turnover. And they know that the right supplier will help them keep costs down without sacrificing quality.

They partner with the right suppliers

Do you need restaurant equipment in Canada? Do you need fresh ingredients? Do you need napkins, tablecloths, and employee uniforms? Of course, you do, because you run a restaurant. And the savviest restaurant owners know that choosing who to get this stuff from is a very big decision.

The right local supplier can help you cut costs wisely and get the things you need. They’ll understand your local market and the need for rapid deliveries and superior goods. Working with the right supplier will make a world of difference for your organization!

They never give up

Making it in the restaurant business requires consistency, hard work, and an ironclad commitment to your dream. You’ll face lots of setbacks, and you’ll have to dig into that emergency fund from time to time. But if you’re among the best restaurateurs, you’ll never stop working and never stop dreaming. Cultivate resilience and stay committed to your dream. If you stick with it, you just might make it.

You may also like: No Restaurant Is An Island: A Definitive Guide to Working With Other Companies

Filed Under: Featured Posts, Finance Tagged With: cost cutting, finances, Management, suppliers

Trackbacks

  1. Why Should I Update My Restaurant POS System? - Business Partner Magazine says:
    July 12, 2019 at 9:33 am

    […] You may also like: How Savvy Restaurateurs Get Ahead […]

  2. How to Open a Restaurant: A Basic Checklist for New Restaurateurs - Business Partner Magazine says:
    September 17, 2020 at 7:39 pm

    […] You may also like: How Savvy Restaurateurs Get Ahead […]

  • Facebook
  • Instagram
  • Pinterest
  • Twitter
  • YouTube

Disclosure

We earn commissions if you shop through the links on this page.

Recent Posts

  • High-Speed Doors And Their Benefits For The Warehouse
  • What are Some Examples of Antique Gold Coins
  • How to Host a Stress-Free Party That Everyone Will Enjoy
  • Make a Bold Statement with Colourful & Vibrant Bathroom Furniture 
  • What Tomorrow May Bring: A Look at Insurance in 2023

Categories

Archives

Digital Marketing Agency

ReachMore Banner

Tags

Accounting apps bitcoin brand business growth business skills business success communication cryptocurrency Customer Service Data design ecommerce Efficiency employees Featured Article finance finances Health and Safety infographic insurance Investing investment legal legal services legal tips Management Marketing marketing strategy Outsourcing productivity property Real estate sales security SEO Social Media software starting a business startup Technology Trading Training website workplace

Disclosure

We earn commissions if you shop through the links on this page.

Digital Marketing Agency

ReachMore Banner

Business Partner Magazine

Business Partner Magazine provides business tips for small business owners (SME). We are your business partner helping you on your road to business success.

Have a look around the site to discover a wealth of business-focused content.

Here’s to your business success!

Copyright © 2023 - Business Partner Magazine·