Tips from a Nightclub Security Expert on Bar Patron Safety
Using a green restaurant strategy to increase the value of your business and get a higher price if you are planning to eventually sell it is like adding more rooms to a home to accommodate larger families. The bigger the family means the bigger the home needed and the higher a price someone will expend for it. Greening your restaurant is like adding rooms. This value – like those rooms – is more customer appeal, greater cost savings and added profits to the bottom line. In essence, this all translates into getting a higher price from a potential buyer for a restaurant as well. But how you ask? Let’s examine the first category – customers. Recent studies and reports show that a higher percentage of restaurant patrons want to dine where they believe the restaurant or foodservice operation has sustainable practices. In other words, more guests can translate to more revenue. Read more how having a green restaurant strategy can improve a bottom line. Next, is the cost saving. Introducing energy efficient restaurant practices will reduce utility bills, such as gas and electric usage, water consumption and sewer output and trash removal services. The last element is the ultimate price you will get when selling the business. Restaurant valuations are typically based on the operating income and this holds true from a sustainable restaurant consultant perspective too. The ratio is traditionally a factor of 1.5 to 3.0 times the income, with allowances such as an owner/manager salary added in. Every additional dollar in income attributed to more customers and less costs equals a higher price valuation. Bottom line… A green restaurant strategy is good for business now and later… Should you decide to sell!
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