Restaurant Consulting
Our restaurant consulting experience -- strategy, operations, finance, technology, marketing, real estate, construction, and franchising -- runs deep within public and private companies. The rules of engagement have dramatically changed, and the industry must now reinvent itself through more scrupulous approaches to systems, safety, technology, automation, training, and the creation of sustained public trust.
Restaurant Transformation
The fundamentals of a great restaurant business have not changed through the years. They remain:
- Amazing culinary products
- Caring, well-trained, hospitable employees
- A never-ending focus on food safety, cleanliness, sanitation, and hygiene
- Vigilant site selection to capture your brand’s target market
But, unlike earlier times, various environmentally-induced, societal, economic, and technological dynamics have exponentially impacted the ability to achieve and sustain success within the restaurant space. 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. Manage this correctly or fall victim to the wrong forces.
Transformational Technology
Now, more than ever, cloud-based POS, online ordering & delivery, digital food safety, social media & guest sentiment monitoring, loyalty and payment integrations, just-in-time order management, kitchen robotics, IoT, and "inflection point technology" yet to be conceived, will continue to shape the future of the industry. A sophisticated technology stack is no longer just for major chains; it is now a pre-condition to your membership in the restaurant industry of today.
Radically-Changing Labor Base
The restaurant labor market does not resemble the labor market of former years. Drastically-escalating labor costs, scarcity of restaurant labor, a tarnished perception of rank and file restaurant jobs, and the need to invest in and protect employees' safety, welfare, and future commitment to your brand -- have all resulted in the need for a radically altered approach to your hiring and retention policies.
Your Digital Footprint
Leveraging your brand successfully means nimble management of your digital footprint to create and maintain product integrity and consumer respect. Your digital messaging is a challenge particularly as online ordering and delivery removes the traditional touchpoints of guest interaction with your brand.
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. Online nutritional awareness creates a more knowledgeable and demanding guest.
Delivery
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. Delivery is not going away, so come to terms with its challenges.
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, processes, and a new infrastructure to proactively manage the "fundamentals," as well as the "new influencers" found above. We can help expedite your pathway to success.
Areas of Restaurant Expertise
- Strategy and Concept Evolution
- Financial Analytics and KPI Engineering
- Business & Financial Plans for Capital and Financing Requirements
- Process Engineering and Management
- Pricing Decision Logic
- Real Estate/Site Selection Decision Logic
- Purchasing/Procurement/Logistics
- Franchise System Development
- M&A - Due Diligence and Integration
- Your Technology Stack -- POS Systems, Project Management Systems, Online Ordering & Delivery , BOH Financial Management, Social Media Management/Digital Marketing, Loyalty and Payment Processing , Kitchen Robotics , AI, Learning Management Systems
- Cloud/Virtual Kitchens, Virtual Brands
Copyright © 2023 - Profit Objective, LLC - All Rights Reserved.
Cookie Policy
This website uses cookies. Please accept our use of cookies to improve site functionality.