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…
Many entrepreneurs don’t like to talk about restaurant turnaround consultants since they bring up bad memories and make them remember about the times when their business was struggling. But, if you own a bar or restaurant, or any other hospitality business, you have to realize that these consultants are some of the most important people…
The restaurant industry is tough. Owning a restaurant means competing in an industry where standing out from other restaurants and succeeding requires careful planning and difficult sacrifices. And even after that, you often find yourself struggling. Some of this comes from economic forces, which you can’t do much to change. But one area that impacts your…
How to save a failing restaurant can be serious business and sometimes by putting it in perspective with a sense of humor from others can lead to valuable tips. We found one blog writer whose cartoon outcome, although somewhat drastic and ominous, clearly provides readers some useful recommendations about preventing restaurant failures. The posting, and…
If you are contemplating restaurant turnaround services, the latest report from Technomic featured in Nation’s Restaurant News sheds some light on the current economic recovery. Here are some of the “highlights” of that report if you are an owner or investor of a failing restaurant or a bank faced with a troubled restaurant loan: What…
In the late 1990’s, one strategy by a restaurant turnaround consultant was to maximize the ROI on leased and owned space. This is typically accomplished where a leased space can be used to house two distinct but complimentary brands, such as pairing a KFC (Chicken) store with a Taco Bell (Mexican). The other is to…