So you run a successful restaurant and don’t want to stay stagnant. That’s great! It’s always good to set high goals, even if you feel that they are out of your reach. If your restaurant is currently stable and going well, it’s natural to want to know what the next steps need to be.
For some people, this might mean more customers and profits. For others, it might mean going beyond the “family-owned” image to something more professional. Regardless of how you define new heights, there are steps you can take to move forward.
True, it can seem a little risky. After all, why rock the boat if it’s stable, right? However, taking calculated risks is what business is all about, and in this article, we will look at three ways you can do so. Let’s dive in.
1. Welcome Collaborations With Influencers and Experiment With Fundraising
These days, it’s impossible to do anything without incorporating aspects of the digital world. While the old guard may prefer to keep things traditional, it’s honestly not that bad. Collaborating with influencers, for instance, can provide you with a massive jump in customers. The results can be significant enough to prioritize such collaboration even further.
It’s not just new customers that you gain. Some of the best restaurant fundraisers also tend to be influencers, and that can be an added bonus. Restaurants are, by nature, local enterprises. They considerably rely on word-of-mouth and recommendations to spread their influence.
When you collaborate with trusted figures in your community, you open your business up to a whole new influx of customers who haven’t heard of you before. According to DonationScout, it is possible to raise anywhere between 15% to 20% of your total sales at a restaurant fundraiser.
2. Consider Opening New Branches
If you have already put a lot of effort into your restaurant, it can start to feel like you are getting diminishing returns after a while. After all, there’s only so much that you can do to boost your revenue in one location.
You may be hosting live music and other unique attractions that restaurant owners often employ to gain more clients. However, if you have maxed out on the investments you can make, it might be a good idea to look at alternatives.
One option worth looking at is the opening of additional branches. Now, this can sound intimidating since it does require substantial capital investment. You will have to go through the process of finding a good location, leasing out the spot, hiring a new team, training them, and much more.
There are a lot of things that can go wrong, but you must remember that this is the second time you are doing this. You already have the experience which you can draw upon to make the process easier.
3. Start Focusing on Brand Identity and Image
Odds are that you have probably given some attention to this aspect already. However, if a restaurant wants more influence, it really has to nail its brand identity and image goals.
If all you have done so far is open up a website and a few pages on social media, it’s time to do more. Thankfully, there are many consultants and marketing experts who have made restaurant branding their domain. Speak to them and explore what you need to be doing.
Likewise, your brand identity can also be helped when you partner with a restaurant fundraiser. They tend to have a number of contacts in key positions, and this, in turn, can be a perfect networking opportunity for you and your restaurant.
If you are serious about investing in your brand identity, you should remember that there are a lot of aspects to address. For instance, everything from your logo, color palette, interior design, and even customer service can use an overhaul.
It might take some effort, but sometimes, this is all you need to take your restaurant to greater heights.
In conclusion, there are naturally going to be some risks when it comes to pushing your operations to the next step. New branches may not always be successful, fundraisers and influencers may not always provide the results you expect, and a fresh brand image won’t create miracles.
That said, you can pull it off with a little extra planning and preparation. Remember, the last thing you want is to wonder “What if?” when looking back. Besides, even risky moves like opening a second branch can be worth it. After all, it’s not like you don’t have your main business to fall back on.
