How to build and secure viable, sustainable restaurant business ?

Building and Securing Viable, Sustainable restaurant Business in Hotels and Standalone Settings requires work.

The Horeca industry is an integral part of the hospitality sector (a short for hotel / restaurant / catering?and encompasses the whole food service industry). Whether located in a hotel or as a standalone establishment, a well-managed F&B business can attract customers, enhance reputation, and drive revenue.

Below are key aspects to consider for building and securing a viable, sustainable F&B business.

?Market Research:

Before initiating your F&B venture, thorough market research is essential. Identify your target customers, their preferences, and spending habits. Competitive analysis will help you understand your market positioning. Rather than starting with an idea and making the research fit, ensure you? find an area of need in your market. What audiences are underserved ? Where is demand outpacing supply ? What does your location need in terms of hospitality and accommodation ?

Menu Design:

Offer a menu that balances quality and variety. It should align with your target market while considering dietary restrictions and sustainability. When you design a?menu it should express your restaurant’s personality, focusing your overall operations, promoting profitability, establishing your budget, and keeping your brand fresh in your customer’s mind. Making it unique.

Cost Management:

Operational costs can make or break your F&B business. Opt for bulk purchasing, seasonal ingredients, and energy-efficient appliances to manage costs effectively. Without forgetting a couple of favorite of mine, the sustainability of the product in terms of logistic, and the cross use of items in between recipes supporting all of the above.

Team Hiring & Training:

Recruitment is the first step to value, in order to bring in the right attitude and talents that will bring life to your restaurant. Then invest in training which will elevate your customers experience. Human capital has to be one of your key Investments, focusing on training that emphasizes customer service, hygiene, and efficient operations, but above all honest connection with the clientele. EQ rules beyond just the knowledge of the menu items, as reading / understanding guests needs will keep this repetitive customer coming.

Technology Integration:

Utilize technology for inventory management, table reservations, and point-of-sale systems. It minimizes errors and improves service. Using technology to support the experience, giving more time to the team to focus on guests, not to reduce interactions.

Marketing:

Naturally reputation management comes to mind, including but not limited to monitoring ratings/feedbacks, cherishing/handling reviews to show care. Though leveraging social media goes beyond, customer loyalty programs, and partnerships with local businesses to create a strong marketing strategy. Your communication will create the emotional link that you want, while keeping your patrons informed of what is new, or what they most probably miss.

Effective marketing communication involves?understanding the target audience, selecting the appropriate channels and messages, and continuously measuring and adjusting strategies to achieve desired results. Don’t just do, do with a purpose.

Sustainability:

Adopt eco-friendly practices such as waste reduction and sourcing local, organic produce. Sustainability is not just a trend but an expectation from modern consumers.

Regulatory Compliance:

Ensure you adhere to local laws and regulations. Obtain the necessary permits and regularly update your staff on food safety protocols.

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Conclusion:

Even with great food being served, building a sustainable restaurant business requires, sufficient planning and capital, a well-thought-out strategy that considers market demand, operational efficiency, and sustainability. With proper planning and execution, both hotel-based and standalone F&B establishments can achieve long-term viability and success which will ensure footfall coming through the doors.

Published in Hospitality News Middle East in February 2024