Our restaurant experience -- operations, finance, technology, marketing, real estate, construction, and franchising -- runs deep within publicly- and privately-held companies. The rules of engagement have dramatically changed, and the industry must now reinvent itself through more scrupulous approaches to safety, systems, technology, automation, training, and the creation of sustained public trust.
The fundamentals of a great restaurant business have not changed through the years. They remain:
But, unlike earlier times, various nature-induced, societal, and technological dynamics have exponentially impacted the ability to achieve and sustain success within the restaurant game. Mastery of these additional forces is now a prerequisite to your winning. The "new influencers" include:
Changing Customer Expectations
The typical restaurant consumer is both "shell-shocked" and enlightened. Traumatized by COVID-19, guests now demand safety, convenience, and brand transparency. Understanding and reacting to the exigencies of the "new normal" for restaurants have now become table stakes.
The Internet and Social Media
Online access has created a knowledgeable consumer with the ability to share his/her perceptions (good or bad) in real-time.
Now, more than ever, cloud-based POS, online ordering & delivery apps, loyalty and payment integrations, AI, kitchen robotics, etc., will continue to shape the future of the industry.
Radically-Changing Labor Base
The restaurant labor market does not resemble the labor market of former years. Drastically-escalating labor costs, and the need to protect employees' safety and welfare, have resulted in a mandatory new mindset in your approach to hiring and retention.
Your Digital Footprint
Leveraging your brand successfully means nimble management of your digital footprint to create and maintain product integrity and consumer respect.
Your Brick & Mortar Footprint
Dining rooms , once the cornerstone of a restaurant, are being re-imagined, reduced, and even eliminated. Digital orders (creating off-premise consumption) have upended traditional restaurant footprints and transformed kitchen configurations. Virtual kitchens, delivery, meal kits, curbside pick-up, etc. are today components of the "new normal" for the restaurant industry.
The “Health Halo”
Like it, or not, we must all deal with the nutritional ramifications of our products.
You will find a brave new world that you are forced to assess and navigate for the benefit of both your customer and your brand.
An Emboldened Competitive Landscape (Smarter & Stronger)
For every great idea that you may have, someone is out there trying to do it better. Furthermore, current forces have "self-selected" in favor of only the most powerful players (financially and operationally). But, rather than worrying about the competition, focus on stellar execution of your unique value equation.
Why Profit Objective?
To succeed in the restaurant industry today, your business must embrace systems and processes to proactively manage the "fundamentals," as well as the "new influencers" found above. We can help expedite your pathway to success.
Areas of Restaurant Consulting Support: