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Opening a brand new location is an thrilling milestone for impartial restaurateurs—nevertheless it’s not with out its share of challenges and dangers. Growth needs to be approached with cautious consideration, strategic planning and a stable understanding of what made your first location profitable within the first place.
Peter Marzulli, Director of Operations for 6R Hospitality Group—a multi-concept restaurant group with 4 eating places in New York Metropolis alone, together with the town’s beloved Miriam restaurants—is aware of a bit of one thing about managing a fast-growing restaurant group.
When its flagship Miriam in Brooklyn was bursting on the seams with prospects, 6R Hospitality Group opened a second location within the Higher West Aspect, adopted by Miriam Avenue Meals—a pick-up and to-go idea that additionally serves as a central hub for his or her off-premise catering providers throughout the town’s 5 boroughs.
In 2015, the group opened Tribeca’s New Orleans-inspired 1803, full with balcony, terrace and underground jazz membership. And by the top of the 12 months, the group plans to open one if not two extra eating places in New York. “We imagine Miriam to be a really well-received and profitable idea,” says Marzullu. “And we imagine there’s room for that idea to maintain increasing.”
Hold studying for Marzulli’s prime 5 suggestions for impartial eating places able to develop.
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Perceive your enterprise and its efficiency metrics
Opening a brand new location requires a deep understanding of your idea and goal market, in addition to thorough analysis into potential places. Be sure to have a transparent understanding of what made your unique location a hit. Is it the situation, the meals, the customer support? It’s possible a mix of all of those, plus the entire processes that go into pulling them off efficiently. Understanding these components is essential to replicating your success.
In fact, earlier than you contemplate opening a brand new location, your flagship location must be working like clockwork and in good monetary well being—and have the information to show it. “I take advantage of information and reporting to actually analyze my enterprise earlier than I make choices,” says Marzulli. It’s good to have instincts, ”nevertheless it must be backed up with agency information. [It’s important to have] that data simply obtainable once I want it.”
“It’s good to have an intuition […] nevertheless it must be backed up with agency information.”
Have an in depth plan of motion in place
The significance of planning in your restaurant enlargement can’t be overstated. “Know what you’re going to do earlier than you do it,” says Marzulli. As a result of when you open your doorways, you received’t have time to maintain up. Have documented programs in place for nearly the whole lot—commonplace working procedures, coaching manuals, worker handbooks, recipes, and so forth.—particularly for those who ever need to have the ability to let your managers take possession of the day-to-day. (And also you do.)
It’s additionally important to have an in depth price range and monetary plan in place. Embody your anticipated startup prices, ongoing operational prices and a big buffer for unexpected bills. Relying on the way you’ll finance your new location, it’s possible you’ll want to have the ability to present your financial institution that you’ve a powerful monetary historical past of at the very least 3-5 years along with your unique location, demonstrating profitability and the flexibility to generate sufficient money circulate to help your enlargement.
“Set your plan of motion, get your budgets right.”
Proceed with warning
It’s vital to method enlargement with a stage of warning and realism. “Everybody already is aware of eating places have very skinny margins to begin with,” says Marzulli. “And so, [with inflation] 12 months over 12 months that will get even thinner.”
Plan for the worst-case state of affairs by being conservative in your income projections and overestimating potential prices. This method will allow you to put together for unexpected challenges and guarantee that your enlargement doesn’t jeopardize the monetary stability of your current operations. “Be pessimistic normally, understanding that eating places are a tricky recreation,” says Marzulli. Particularly within the first 12 months, when issues are notably risky.
“Be pessimistic normally, understanding that eating places are a tricky recreation.”
Be able to pounce when the suitable alternative arrives
The restaurant enterprise strikes quick. From the labor market to know-how and buyer calls for, change is the one fixed on this quickly evolving trade. “It’s important to at all times have your finger on the heart beat and be prepared to regulate,” says Marzulli. This is similar method it’s essential to deliver to your enlargement plans. “With eating places, it’s very uncommon that it’s an ideal state of affairs,” continues Marzulli. “Realistically, we’re at all times wanting—and it’s time each time a possibility arrives. It’s important to hold your head on a swivel.”
In different phrases, hold your eyes open for indicators that it’s time to maneuver—be it an unbeatable lease provide, a major spot changing into obtainable or shifts available in the market that favor your model. Belief within the groundwork you’ve laid and be ready to commit totally as soon as the second arrives. “When the idea meets the situation and the whole lot appears to make sense, you then take the dive.”
“When the idea meets the situation and the whole lot is sensible, you then take the dive.”
Use a system that brings the whole lot collectively on one platform
A single, unified restaurant administration platform turns into indispensable when managing a number of places. Don’t wait till you’re on the finish of your rope making an attempt to chase down and reconcile gross sales, stock and labor information between disparate programs.
A one-stop level of sale (POS) and restaurant administration platform may even allow you to guarantee consistency in buyer expertise and operational effectivity. “As an operator of a number of places, it wouldn’t make sense for me to make use of a number of programs,” says Marzulli. “Having the whole lot collectively in a single platform means I can entry all my information in a single place quite than drive myself loopy.”
Unlock your restaurant’s omnichannel potential
In case you’re not fairly able to open a brand new location, why not begin by increasing your present one? New markets and channels allow you to develop income and model recognition with minimal threat, whereas additionally getting ready you and your group to deal with extra subtle operations and extra shifting components.
Contemplate rising gross sales and reaching new prospects with supply apps like DoorDash and UberEats, or add an ecommerce element and promote branded merch like t-shirts or signature sauces.
As for 6R Hospitality Group, “our plan is to take the templates that we’ve constructed which were profitable and broaden our attain,” says Marzulli. “We now have our eye on some neighborhoods we haven’t been capable of get into but, and we’ve already expanded into supply and off-premise catering.
“We’re additionally contemplating some new ideas in addition to some resort subsidiaries. As we broaden, we’re changing into increasingly more of a administration firm as nicely. So we’re increasing not solely on the restaurant facet, however on the general administration facet of issues as nicely.”
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