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RestaurantRap Articles

Fine Tune Your Operations To Maintain Value In Today's Economy

September 2008

The Key Ingredients Of A Successful Restaurant, Bar or Nightclub From A Customer's And Buyer's Perspective

April 2008

Things That Can Go Wrong During A Sales Transaction That Sellers Needs to Know

August 2007

How to Overcome The Most Common Obstacles in Dealing With the Landlord

May 2007

The Major Factors In Selecting a Strong Restaurant Location
August 2006
 

The Essentials For Preparing A Business Plan For Future Growth Opportunities

March 2006 

Restaurant Realty’s Partnership With Restaurants For Sale Online Gets Deals Done!

January 2006 

Why 2005 Is A Good Time To Sell Your Restaurant Real Estate

September 2005 


How to Sell Your Restaurant, Bar or Nightclub
August 2005 


Why Choose Restaurants For Sale Online To Sell Your Restaurant, Bar or Club
August 2005 


How to Buy A Restaurant, Bar or Nightclub
July 2005 

Restaurants For Sale Online Releases 2005 Pricing Study
June 2005


How California's Largest Restaurant Brokerage Has Sold Hundreds of Restaurants
April 2005 


The Selling Process - From the Offer Through The Close Of Escrow
January 2005


The Market For Selling Restaurants
April 2004


The Market For Buying Restaurants
April 2004


Helpful Techniques In Negotiating Your Lease

October 2003

Some Of The Major Challenges In Close The Deal
April 2003 


Don't Wait Until It Is Too Late!!!
January 2003 


Why So Many Restaurants Fail
July 2002 


The Advantages And Disadvantages Of Buying An Existing Restaurant Versus Developing A Restaurant From Scratch
April 2002 


Tips To Stay On Top During Challenging Economic Times
April 2001


Advantages Of Working With An Experienced Broker In Buying And Selling A Restaurant, Bar Or Club
October 2000 


How To Negotiate A Good Tenant's Lease And How To Renew A Lease On Favorable Terms To The Tenant
July 2000 


Major Considerations In Deciding To Sell You Restaurant, Bar Or Club
April 2000 


The Advantages Of Reporting All Of Your Sales
October 1999 


When Is The Best Time To Sell Your Restaurant, Bar Or Club?
October 1999


What You Should Do To Get Your Restaurant, Bar Or Club Ready For Sale
August 1999 


How To Maintain Strict Confidentiality In Marketing Your Restaurant For Sale
July 1999 


How To Find A Good Restaurant Site
May 1999 

 

Tips To Stay on Top During Challenging Economic Times
by Steven D. Zimmerman, Restaurant Realty Company
April 2001
 

During challenging economic periods it is important that your performance is at its best to maintain continued success in your operation. Good operators realize that during tough times it is more challenging to get customers into their restaurant as they tend to be more conservative in their spending habits during these periods. Here are some tips to help you stay on top during challenging economic times:

1. Maintain High Standards - During difficult times customers have a tendency to eat out less often and/or to trade down (i.e. eat at lower priced restaurants). In order to maintain market share you must always make the customer feel welcome and appreciated and provide the customer with a good price value experience - providing the customer with a consistent quality product at a reasonable price. Additionally you must keep the premises clean to insure the restaurant looks at its best at all times as well as keeping the equipment well maintained.

2. Emphasize the Details - a. recognize customers when they enter the restaurant with the proper greeting, b. give the customer prompt and courteous service, c. use suggestive selling to increase the guest check average (would you like French fries or a salad with your sandwich?, would you like dessert?, etc.), and d. thank the customer when they leave and ask them to come back again.

3. Be Creative in Reaching Customers - a. use trade dollars to advertise -offer newspapers, and radio stations, etc. food certificates for your restaurant in exchange for advertising and this will result in you paying approximately 33 cents (the cost of your food) for each dollar of advertising; b. implement menu specials for different seasons and special holidays; c. have sales contests for food servers to improve suggestive selling (the food server that has the most improved guest check average for the month wins a prize); and d. have contests for employee of the month to help motivate employees

4. Maintain Proper Controls - a. emphasize proper portion control with all food items in the kitchen and in the dining room and b. implement an energy conservation program - 1). put light timers in restrooms, storerooms and in other back of the house areas, 2). Convert lighting to energy efficient bulbs and convert conventional light bulbs to fluorescent lighting where possible, 3). turn off gas burners when not using them, 4). install time clocks to control lighting, HVAC systems and compressors, and 5). minimize heat and air conditioning loss by using insulation and proper window coverings.

By practicing the above points you will have a good chance of maintaining and increasing market share and keeping your business in the black during challenging times.

 

   

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