10 Tips For Restaurant Success

US Business Finance Corp works with small businesses such as restaurants to maximize their ability to succeed with business cash advances, alternative financing and business information. Over the years, we have found the following ten tips to be good part of restaurants’ plans that lead to success.

1. Always make a great cup of coffee! The secret to a great cup of coffee, besides starting with a good coffee brand, is to keep the equipment clean and use good water. The use of carafes or thermoses to keep the coffee warm after brewing not only saves power, but keeps the coffee from getting that cooked forever taste.
2. Never serve hot water for tea in carafes that are also used for coffee or that was heated in the coffee machine. This drives your tea drinkers away – better to ride the wave created by the green tea marketing campaigns!
3. Create the culture of a valued employee. This starts two positive feedback cycles: upbeat employees (normally) equal happy patrons and they attract people to your team who also have a positive nature. Training is key to employee competency. US Business Finance helps train employees and owners on credit card transaction best practices to minimize errors and improve your rates.
4. Know your financial cycles in detail. Tighter planning for staffing and food inventory can have the most direct affect on improving your profits. Create meaningful, yet simple daily, weekly and monthly financial reports. Knowing your cash flow also allows you to time your cash advance draws to exactly meet your cash flow need.
5. Get a merchant credit card account. From credit card studies, patrons will spend an average of 15% or more. Accepting credit cards opens the way to higher receipts, better protection against NSF checks, and an opportunity to get a cash advance on your future Visa/MasterCard sales.
6. Unless you are a franchise restaurant with a restricted menu, make sure you always serve good food – from the freshest meat and fish to crisp salads. With more of the population turning a critical eye on the way their eating habits affect their health, the institutional meals of the past are losing their supporting population.
7. Mix consistency with something new. While keeping a core menu that your customers love, have something new – either in the way of a dessert, sandwich special or “catch of the day”. This gives your customers both the security of knowing what to expect and also giving them the satisfaction of enjoying something new or unexpected.
8. Choose your location wisely. Location can be determined by either for the resident population (such as office workers on lunch break), closeness to a major road with easy on-off access and good parking. Remember – a parking lot with the spaces too tight is seldom visited twice by patrons with nice cars. US Business Finance Corp assists restaurants with commercial real estate mortgages as part of our business financing services.
9. Understand what experience your restaurant provides your patrons. Once you know what attracts clients back or leads time to give referrals, you can fine tune that aspect of your offering. It is also good to know what drives clients away, so you can eliminate that vexation – sometimes its the little things, like water spots on the knives.
10. Prepare for financial cycles ahead. Make sure to have a plan in place in case you need emergency operating capital to sustain your restaurant during any down sales cycle. Road construction making it hard for regulars to dine? Refrigerator fail overnight and spoil inventory? By setting up your merchant credit card processing service up with US Business Finance, you not only get great processing rates and service, but the ability to quickly tap into a cash advance. This emergency operating cash fund then gets paid off out of a percentage of future Visa and MasterCard sales – no personal guarantee or collateral necessary.

As restaurant owners and managers know, there is always a bit of the theater in running a successful restaurants. Regardless of all the daily hassles going on in the restaurant, as that final bonus tip: smile – keep the audience assured that even if their life is rocky, your restaurant is the calm in the center of the storm.

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