There is an infamously high closure rate of restaurants that makes it a tricky business to enter. It is estimated that nearly 60% of all restaurants close within their first year of operation. This can be especially daunting for those wanting to introduce new cuisines or bring a new brand to their high street. And, while there is plenty of debate about what exactly causes such issues, one widely acknowledged factor is inexperience.
The restaurant industry is significantly different from many other industries, especially those likely to be along the same high street. Not only are you vying to stand out among other eateries, hoping to find an audience for your food, but there is a huge amount of operational learning specific to the catering sector that is needed to ensure that your business complies to legal requirements and remains safe for all those who eat there.
Many restaurants are opened by those who have worked within the industry, be they front-of-house or back, and they are aware of the intense pressure that can occur during services. However, without the appropriate familiarity of both sides of the pass or the operational knowledge that comes from management, even they can be at risk.
If you are still not deterred from opening your own food concept, then here are the fundamentals you will need to learn before beginning your journey to culinary fortune.
Monitor Your Stock and Costs
It isn’t the most glamorous side of opening a restaurant, but knowing your overheads, staffing costs, and GPs like the back of your hand is an essential part of a healthy business. Before you open, be sure to calculate and record each cost of your business so that you can make accurate predictions in the future. Storing this data and being able to refer back to it at a later date will allow you to make accommodations during quieter and busier periods.
Be sure to work closely with your managerial staff too, ensuring that they measure stock accurately. Without the strong data of accurate stock counts, your business could be losing money under your nose.
Assess All Risks
There are numerous, well-known, and shocking headlines that involve restaurants. Due to the nature of the industry, with its high-pressure services and dangerous equipment, it is an environment rife with potential risk. Before you open your doors, thorough risk assessments should take place, checking every aspect from the strength of your timber fire doors and the potential hazards of your grill.
Additionally, each member of staff should be made aware of potential risks too, as well as the chain of command for responsibility. Due to the high turnover of customers welcomed into restaurants, each open to risk, all members of staff should be aware of what to do in situations or, at least, who to contact.
Hire the Right Attitude
There is a general rule among restaurants when it comes to hiring staff. You can teach someone to do a job, but not how to change their attitude. This means that, when taking on a new staff member, be sure that they have the right presence and attitude that you would like to experience in your restaurant, as well as the enthusiasm for the role that will ensure their diligence.
Whether working with tables, the bar, or in the kitchen, stress will likely become of frequent part of the job, especially if you begin to get busy. Having a team that works well under pressure and support each other and customers is an invaluable skill within the industry.