4 Tips To Help A Struggling Restaurant Make More Money

4 Tips To Help A Struggling Restaurant Make More Money

4 Tips To Help A Struggling Restaurant Make More Money

26 June 2019
, Blog

Most people open restaurants because they're passionate about food. However, restaurants can be tricky to run due to the thin profit margins. Fortunately, you can take steps to increase your restaurant's success. If your restaurant is struggling and you need to make more money, try these four tips:

1. Hire staff with potential.

Hiring staff can be a balancing act; you want experienced workers, but that experience can come at a high price. Hiring the most skilled chefs and waiters can get very expensive. You can save money by compromising. Instead of hiring employees with several years' worth of experience, hire people with potential. People with good attitudes who are willing to learn can be very valuable in the long run. Training them can earn you loyal employees for a reasonable price.

2. Utilize specials as a way to clear old inventory.

Food waste can eat into your profit margins, so you should make every effort to avoid it. When you have food that's approaching the end of its shelf life, you have an opportunity to repurpose that food into a special dish. Daily specials give ingredients new life. It helps your staff avoid waste, allows your chefs to try new dishes, and gives your customers a novel experience. By putting a daily special on your menu, everybody wins.

3. Get your liquor license.

Offering beer, wine, and cocktails can drastically increase your restaurant's revenue. Beer and wine can be purchased at wholesale prices, then marked up and sold at a profit. Customers expect to pay higher prices for spirits when dining out. Cocktails are particularly popular, and they offer you the opportunity to develop a signature drink. In order to sell alcohol, you will need to obtain your liquor license.

According to The Balance, it can take up to a year to receive your liquor license from the date of application, so you should apply as soon as possible if you're interested in pursuing this avenue. All you need to do is fill out an application, submit it to your local governing body, then pay the necessary fee. Once your application has been processed, you will receive your liquor license if you have been accepted. Enlist help from companies such as Arizona Liquor Industry Consultants to expedite the process.

4. Follow food safety laws.

At times it may be tempting to ignore food safety laws, especially when doing so might save you money short-term. However, you will pay hefty fines if unsafe food handling is discovered. Hold all your employees to strict food safety standards. This will save you from fines and lawsuits in the future.

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