Going into the restaurant business represents a tremendous challenge. No matter where your eatery is based, attracting clients, cultivating a favorable reputation and promoting the business can be an uphill battle. Not surprisingly, the vast majority of restaurateurs operate at a loss during their first year in business. That being the case, any moneysaving measures you can enact during this time frame are sure to help out.
Use Social Media to Your Full Advantage
In any locale, promoting a restaurant can be expensive. Buying ad time on local television and radio outlets and purchasing ad space in local newspapers and circulars is liable to cost a pretty penny. Conversely, promoting your eatery on social media can help you connect with thousands of prospective diners without costing you a dime. With this in mind, create accounts for your restaurant on Facebook, Twitter, and other social media mainstays and start posting.
Keep an Eye out for Discount Equipment
Purchasing used or refurbished equipment for your kitchen can effectively save you tens of thousands of dollars. Furthermore, finding places that sell discounted refrigerator freezer parts can help keep your refrigeration system up and running without putting a strain on your finances. Anyone on the hunt for heavily-discounted refrigerator, freezer, oven, grill, broiler or toaster components would do well to pay a visit to O-Reps.com.
Many restaurants provide diners with assorted freebies, like fresh-baked bread and chips with salsa. While this is a great way to show customers your appreciation, it isn’t exactly conducive to saving money. As such, consider placing limits on these freebies. For example, each customer — or group of customers — should only receive one basket of bread or bowl of chips. You may also consider only offering such freebies to diners who specifically request them.
Restaurant ownership requires a heightened degree of fortitude and an unwavering passion for your craft. In light of all the money lost during their respective first years, a staggering number of restaurateurs have no choice but to close their doors within the aforementioned time period. To prevent your eatery from becoming just another failed restaurant, put the previously-discussed pointers to good use.