Running a restaurant isn’t as easy as it seems.
Truth is, there are many things that you’ll need to consider.
Whenever I see restaurants that aren’t busy, I always thought that it’s just a lack of knowledge. They just don’t know the right steps to push forward and bring in more sales.
I was in that exact situation before.
And if your business is already in that stage—it’s crucial to know what to do next. Because you may only have a few days left to turn it around before it’s too late.
Below are some proven techniques that I would like to share to avoid slow business, and hopefully turn your business into a profitable one.
Tip #1: Take a Day Off
It may sound crazy, but this tip is very effective.
I know you’re already struggling daily to stay open. You must already be working nonstop, even on your weekends. You keep on trying to satisfy every customer that goes inside your restaurant.
But why do you think it’s still not working?
It’s probably your technical strategy. This means what you’re doing is already not working. And you keep on doing it daily in an effort to make it right.
But it won’t.
Therefore, you need to take a day off first. Clear your mind. Breathe. Get out of the zone. You need it. Everyone needs it. There’s nothing wrong with taking a break. In fact, it is very much recommended to improve.
Never panic, or else you’ll do no good to your business.
Don’t just carelessly add huge discounts and offers. Don’t impulsively change your interiors or even your menu.
You’ll just burn yourself out.
Always remember: A functioning business “vehicle” needs a sharp “driver”.
And for your brain to work better and make better business decisions, you need to take a day off and make time for yourself.
Tip #2: Transfer All Your Assets to Your Family
Bills and expenses won’t leave you alone, will they?
And worse, they will go after you.
Chances are that these expenses may take whatever you got under your name. And that’s what you’ll want to avoid.
If you’re just starting your business, I highly suggest doing this tip right from the start. And if you ask yourself, “but when will be the right time to build my portfolio?”
It’s on you. When the time is right, you will know.
Clue: When you don’t look at the price tags anymore or if you have too much spare money in the bank.
Tip #3: Focus on One Kind of Target Audience
You must target the right market.
This is very important in any kind of business. Be sure to be very clear on who your target market is. Know their age bracket, what they do, where they’re from, and where were they before you opened your restaurant.
I once asked a business owner and he said that their target market are ages between 18-55. At that moment, I already knew they weren’t doing well.
Why?
It’s because you can’t please everyone. That age bracket mentioned already had 5 generation gaps. When you try to attract all, you’ll attract none. We recommend 5-year gaps only.
I also have a friend who owns a bar & restaurant. At one point, their business was slow because competitors were targeting the same kind of customers and they were clearly losing it.
So instead of being hopeless, they tweaked their marketing strategy and only target a certain kind of market—music playlist customers. They talked to these people and learned about what they wanted in detail.
And guess what? After weeks, I’ve seen that their restaurant has become a special place for those customers.
And the result? The business was getting busier!
Sometimes, your business just needs a little turn. Just don’t be afraid to take the risk.
Tip #4: Focus on the Weekend
If you’re not busy on the weekend, this could be a warning sign for your business. It means that the chances of your business getting busy on a weekday are slim.
Bring in all your energy and resource for the weekend. Go ahead and do promotions, events, special menu items, and many more. They might think you’re crazy for doing it on the weekend, but that’s part of your business strategy.
You don’t want to go where everyone goes. Find your own ways to be heard. Take a different path.
And you will be seen.
Once your weekend is busy, you can use it to fight your weekdays.
Did you know: When a customer comes to your restaurant more than 3 times, chances are they will be your regular? So, do everything to make them come back again and again. It doesn’t matter what technique you’ll use. What matters is how you’ll keep them coming back to you.
Tip #5: Sell the Value of Your Business
If tips 1-4 couldn’t help you, then maybe it’s time to sell your business to at least break even for your restaurant.
I know, it may be hard since you’re already attached to your business. It feels like you’re losing your baby. But as a business owner, selling your business at the right price is an option that you should also look into.
In 2018, I sold one of my small bars at a good price–no negotiations. For a lot of buyers, my asking price may be too high.
But how was I able to sell it?
It’s because I took time to attract the right buyer by:
● Showing them that my bar is top 1 on Google Search and Trip Advisor on a lot of keyword search
● Showing them that my social media pages have 100 organic followers a month
● Hiring a professional photographer for my product and venue photos
● Being active on social media and my website
● Conducting more cocktail masterclasses since customers post photos and tag us after each class
● Hiring a professional graphic designer to create more trends on my menu and cocktails
● Updating the venue to make it look fresh and new
● Building an online booking system
● Creating an online funnel to link for booking that gets 30,000 clicks a month
Basically, I just collected all this data before putting it on an ad to sell the business. And yup, the business was sold in just 6 months to the right buyer, who saw the potential of my business.
The bottom line: Keep on providing value to your business. And show them the value they will get. There will always be people who will see the real worth of your business.
Final Thoughts
Being in the restaurant business isn’t all wonders and happiness. It’s also a battle of survival, strength, courage, and wit.
With all the new establishments showing up and all the new trends that are continuously changing rapidly, you should know how to keep up with them.
I hope the tips above can help your business become busier than ever.
To your success, Wing Chang
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