Restaurants are a profitable business but they always come with a lot of challenges such as changing supplier prices, increased labor costs, supply shortages, and increased rental costs.
 
Whether you’re an old or new restaurant owner, you still need to continue learning about running your business. It’s a never-ending process that involves checking your inventory, keeping up with the competition, monitoring your expenses, empowering your employees, and providing outstanding customer service.

Success requires a lot of perseverance and a highly committed team willing to use all their experience and efforts to grow the restaurant.
Follow this article with us to learn about the most important factors that maintain the success of your restaurant management:
 
1- Keep your accounting and especially costs under control:
First, you should set clear financial goals and expectations for at least 6 months. Expected sales and revenues versus expenses incurred (fixed and variable).

Although the economy frequently fluctuates with unexpected global price rises and inflation, you need to be prepared to respond to these changes.

One way to do this is to continue to monitor your accounting reports generated from your POS software to detect any changes in expenses, supplier prices, or unexplained additional costs.

You need to monitor food prices and labor costs regularly. It is important to be able to cover labor costs for at least 3 to 6 months.

While for food costs, you can always replace overpriced items, check food waste, and change your portion size.
 
 2- Market your Unique Selling Proposition (USP):
What makes you so special?
Your restaurant’s unique selling proposition is the exclusive or unique advantage your restaurant offers compared to your competitors, the “extra” feature that sets you apart from the rest of the restaurants.

It may be a special ingredient or health benefit of your ingredients. You may choose to strictly use locally raised and produced meats, cheeses, and vegetables or organic vegetables and fruits.
 
3- Choose your employees wisely and recognize their efforts:
One person cannot do the tremendous work and follow-up required to run a restaurant. It takes a team of employees and a manager who fully understands the responsibilities involved.

Start implementing a hiring process that aligns with your values and mission.
Adding some qualification questions or requirements always gives a clearer idea of how serious the applicants are as well as their experience.
 
Once you have that team, value them and their efforts and contributions if you want to have a loyal team that best represents you.
Always check for growth opportunities for your employees and set clear rules of accountability.
 
 
 
 4- Utilizing technology to achieve comprehensive performance efficiency:
Technology is one of the most important key success factors. If you want operational efficiency, rely on technology and automate tasks such as inventory management, accounting, reporting, menu design, and engineering.

Choosing a POS software that offers various core features like those mentioned above as well as other tools like a digital QR code menu or recipe management should be a priority for you to maintain your success and ensure your growth. It reduces human intervention and therefore errors in all the different tasks starting from securing your inventory to processing precise orders.
 
5- Providing a distinguished experience for guests and customer service:
With all the competition out there, great customer service and creating a positive guest experience remains a competitive advantage. Make a difference from the moment your guests park their cars, enter the restaurant, are seated, and the entire visit experience including the taste of the food and the payment process.

Your employees should be helpful, friendly and knowledgeable. Music and decoration are also important depending on the concept of your restaurant in creating a pleasant mood.
 
6- Providing service outside the scope of the restaurant:
In the age of virtual kitchens, it has become imperative in today’s world to have an online presence and offer delivery options. Social media, website, app, or partnering with a third-party delivery company is essential to success and sustainability in today’s world.