The ‘Barely Making It’ Restaurants!

Talking to many restaurants in 2019, its clear that the Hospitality Market as a whole is really struggling, so if you’re a Restaurateur or own a business in this market and you’re ‘Barely Making It’, then you already know you’re not alone!

The market over recent years has been transforming in ever more significant ways, with the numbers of restaurant closures increasing to a point where that they are starting to outweigh the number of new openings. The impacts of this transition are no longer restricted to just the big chains like Jamie’s Italian, Byrons Burgers or Prezzo. The impacts are being felt on a far deeper level and more independent restaurants are starting to see their doors shut for the last time.

Its no secret, that one of the biggest concerns for most restaurants out there right now, is their survival because so many are barely making it!

Its so very easy to read reports of up to 15 restaurants closing every week or nearly 800 shutting last year or even reading the stories about big names like Jamie’s entering administration and start to believe that the entire market has taken a nosedive. Its easy to understand the thought that there’s no room for small independent restaurateurs in modern day Britain anymore.

Whilst all these statistics are true and it’s also true to say that the market in general is changing or correcting and it would be dumb to not listen to the increased costs restaurants are now facing, BUT there is always another truth and reality to consider that is always lost or forgotten. That other reality is that despite the market, despite the costs, despite the reduction in the public’s disposable income, despite so many are ‘barely making it’, despite so many of the doom stats, there is somebody out there in your market making money! If there is someone making money in your industry, why can’t that be you?

No one is suggesting for one second that its really simple and because undoubtedly there are restaurants out there not only making money but growing and expanding that you should just be doing the same! As with everything, these answers are not so simple. If they were, you probably would have discovered them already.

However, there are great opportunities in the current climate too!

Just think, you’ve already established that so many restaurants, just like yours, are currently ‘barely making it’. They’re all looking around and blaming all of the issues we’ve already outlined and they’ve come to the same conclusions you’ve already come to, that you need to keep your head above the water and hope the storm passes so you can start to swim again. Not only is this the strategy of the businesses that have already given up, it’s the same strategy that is allowing so many to die.

So what if, whilst all those other business are treading water and leaving their very survival to chance, you went in a completely different direction to the crowd. What if rather than trying to wait out a storm that’s only getting worse you started to swim. Swim not only to survive, but to find calmer waters and ultimately dry land!

This is the opportunity! The competition, your competition is treading water and your about put flippers on and turbo charge your breaststroke like Adam Peaty in the Olympics, leaving the world aghast in Rio 2016.

Whilst everyone else, is blaming everyone and everything other than themselves, you’re going to start by taking RESPONSIBILITY. You’ll look for all the aspects that are in your control! You’ll realise that there are maybe 4 or 5 restaurants in your city that have a similar cuisine as you and therefore the biggest difference to you and everyone else is the people in your business.

You don’t have a secret treasure chest that’s been kept to one side for a rainy day and you can’t simply start increasing your wages to attract the most talented staff in your area. You’ll realise that paying more wages also does not guarantee success. So you’ll start to ask what else can I give my staff that increases commitment and engagement.

You’ll start to see the value in spending regular time training with your staff, because in finally understanding the biggest competitive edge you have lies in the people you employ and training suddenly, if not for the very first time, becomes an apparent investment.

You’ll suddenly realise that to get the best out of your staff, you need to focus on creating a happy environment that people look forward to coming to work in.

The term, ‘Out-Staffing the Competition’ starts to make sense!

Whilst everyone else is sinking, you’ve built an all concurring team. You’ve built a culture that other people want to abandon the sinking ship of their current employer and work for you. You’ll have a culture that may not stop or prevent staff turnover, but will ensure the impacts of staff turnover remain low.

In the pits of despair, in the darkest of hours on the darkest of days people out there are not just finding success but they are thriving. If they are making money, there is only one reason that you aren’t and that is you!

For more support for your Restaurant, including a Free Diagnostic Evaluation of your business either contact us on [email protected] or click here!