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THE KEY INGREDIENTS OF
A SUCCESSFUL RESTAURANT, BAR OR
NIGHT CLUB FROM A CUSTOMER’S AND
BUYER’S PERSPECTIVE
From
my many years experience in owning,
operating and selling many
restaurants, bars and nightclubs the
points that set a successful
operation apart from its competitors
are an operator’s commitment to
consistently upholding the following
standards:
1) serving quality food and
beverages,
2) providing good service,
3) maintaining a clean environment
and keeping all of the equipment
well maintained and
4) providing a strong price/value
experience to the customer.
Businesses that have been around a
long time have undoubtedly committed
themselves to consistently
maintaining the standards indicated
below.
1) Serving quality food and
beverages – Customers will always
remember the quality level of the
food and beverage they get in
deciding whether they wish to
continue to patronize a business
again in the future. Today there are
many mediocre food operations and
when a customer has a positive
experience with good food this will
encourage him to return to the
business as a customer again.
2) Providing good service –
Customers are very sensitive about
getting good service. I know from
past experience as a customer, as
well as from the experiences of many
customers I have spoken with, that
if the service is really good that
this positive experience will help
neutralize some of the negative
experiences the customer may have
had during his visit to the
business. In other words if the food
was not at its best but the customer
received excellent service, in many
cases, the customer will feel that
his overall dining experience was a
positive one and he will return to
the business again.
3) Maintaining a clean and updated
environment and keeping all of the
equipment well maintained -
Customers notice the cleanliness of
a restaurant, bar or night club
–both in the front and back of the
house that they can see. Restrooms
are also a key element in the whole
experience of dining as a well
maintained and updated environment
helps a business to keep or enhance
its value. Buyers appreciate the
hard work it takes to keep a
business in tip top shape and makes
it more palatable for them to offer
a fair price. Keeping the equipment
well maintained goes along with
cleanliness. Equipment in good shape
and good working order almost always
enhances the customers and buyer’s
experience when interacting with the
operation. This is especially true
for buyers as the condition of the
equipment sets the tone to a large
extent in the buyer’s interest of
the business.
4) Providing a strong price value
experience to the customer – A
strong price value relationship is
the experience the customer has in
terms of whether or not he received
value for the money he spent in
buying goods and services in the
business. If the customer feels he
has received value he will most
likely return versus a customer that
feels he has not received value will
not return.
There is an approximate 80% failure
rate in the restaurant, bar and
night club industry. The 20% that
are successful have been so as a
result of their practice of
performing all of the above
mentioned services to the customer
on a consistent basis. It follows
that buyers are more inclined to
want to buy this type of business.
DISCLAIMER
Jacob Zimmerman and Restaurants For
Sale Online assumes no
responsibility for decisions made by
buyers, sellers or other parties to
any transaction. Information has
been provided based on experience
and research. The results of various
articles and studies reflect such
information. Restaurants For Sale
Online assumes no responsibility for
pricing or recommendation of pricing
to any of our users. If you are
interested in buying a business or
piece of real estate, Jacob
Zimmerman and Restaurants For Sale
Online, LLC recommends you do your
own due diligence to verify the
source of any information provided
to you by a seller and/or
intermediary. If you are interested
in selling your business, Jacob
Zimmerman and Restaurants For Sale
Online, LLC recommends you contact
an intermediary that specializes in
transactions similar to the
respective business or real estate.
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