Turning Challenges into Opportunities: Simple Changes That Keep MISC. Thriving!

I recently came across a concerning statistic in an article on 9news: 1 in 11 hospitality businesses in Australia are predicted to close within the year.

This news really made me think about the challenges we're all facing in the hospitality sector - rising costs, staffing issues, and shifts in customer behaviour after COVID.

I’m always exploring ways to improve and refine our operations at MISC. I'd like to share some that have worked for us, in hopes that you might find them useful too.

Whether it’s tweaking our operating hours or enhancing how we engage with customers, these methods can potentially help your venue avoid becoming another statistic on the closure list.

Here are some of the things I have tried and tested myself that have been successful in my own restaurants.?

Adjusting Trading Hours and Menus

A key move I made was opening for lunch an hour earlier and cutting out breakfast on weekdays.

I got some criticism because some saw this as a risky decision, especially when breakfast is often a staple. But I followed the data and realised that the demand isn’t there for our location in Parramatta.

By focusing on lunch earlier, with a better menu and a higher price point, I could generate as much revenue in one hour as I would from three hours of breakfast service.

As a result, we:?

• Had a more efficient kitchen because we had a streamlined menu?
• Reduced costs in labour and waste
• Ran leaner without affecting customer service

Launching Dinner Service

We saw an opportunity to expand into dinner service, particularly given the higher margins on alcohol sales.

We carefully planned for six months before launching dinners. This included everything from lighting adjustments to creating the right vibe with music and live entertainment.?

Most importantly, we looked at the financials, booking data, and customer feedback.

We decided the best days and hours would be Wed - Sat dinners. So we could balance our operational costs by creating demand and making the most of it when we are open.

By not being open every night, we built some anticipation and exclusivity, which has kept bookings coming in.?

Creating a Unique Experience

There is a lot of competition in hospitality so offering something different is so important.

Dinner service wasn’t just about the food, it was about creating a memorable experience.

We introduced themed nights, live DJs on Fridays and Saturdays, and a live band on Thursdays.

We even extended collaboration with local wineries and winemakers to introduce special menu items.

We had to think outside the box for things that would go beyond the normal experience that customers were expecting.?

Let’s be honest, owning a hospitality venue in Australia can be stressful, but these are just a few things that have helped me stand out, stay open, and stay profitable.

If you have any doubts about your decisions or have a question, feel free to drop me a message and I’ll do my best to help you.