In the past years, numerous restaurants have gone through many problems that have affected their productivity and financial stability. In fact, several restaurants have resorted to bankruptcy. However, there’s some light at the end of the tunnel: a small number of businesses that are not just weathering the storm but are even finding ways to increase their sales and revenues with a restaurant turnaround.
If you own or manage a restaurant, especially one that’s struggling to get by, you need to know how to do a complete restaurant turnaround and get your business back to good shape. It definitely won’t be easy, but you can make it less difficult by taking the following basic steps.
Admit the problem
It’s hard to come up with a solution if you don’t know you need one in the first place. So take a long, close look at your business and decide if you can move forward on your own. Be honest with yourself; if the numbers tell you that things aren’t working well, don’t ignore them and bury your head in the sand. Instead, accept the fact that you need outside help to fix what’s wrong with your restaurant.
Research Restaurant Turnaround Consultants
Once you admit that your restaurant is in trouble, it’s time to reach out and get help from the right people. But don’t just hire the first expert who seems qualified to handle the project. A lot of great consultants are good at pushing businesses towards success but don’t have any track record at turning restaurants around. To be safe, do your research and look for restaurant turnaround consultants who have extensive experience with pulling businesses from the brink of destruction and keep them operating.
Conduct thorough evaluations
The consultant you’ve chosen should take the time to assess the situation and familiarize themselves with what’s going on. This usually involves observing the business’s day-to-day practices and interviewing the staff as well as the customers. It might seem redundant and unnecessary especially if you’ve already done formal research, but it’s actually an important step to take. By doing evaluations, your consultant will fully understand why the business went down, identify the issues that need immediate attention, and come up with a plan to tackle them.
Create and commit to goals
It’s important to note that a full turnaround takes years to complete, but this doesn’t mean that you can’t set short-term goals. In fact, having them is important since they will guide you through the path of achieving your long-term goals. Seeing progress after a few months will also boost the morale and confidence of your staff which, in turn, will help improve their efficiency and productivity. Work with your consultant to come up with a 90-day plan as well as a long-term solution.
These are just some of the steps you should take to turn your business around. If you need more help, don’t hesitate to contact restaurant turnaround consultants for assistance.
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