Your first responsibility is to the financial success of the restaurant. Make sure the effect of service as it pertains to keeping your customers be a satisfying and pleasant experience when dining. The high quality of attitude, fairness, understanding, and generosity between management, staff, customers, and vendors is very important. Awareness of all these factors and the responsible actions that result will give your efforts a sense of purpose and meaning beyond your basic financial goals.
Although the restaurant industry is very competitive, the lifestyle changes created by modern living continue to fuel its steady growth. More and more people have less time and ability to cook for themselves. Trends are very important, and your restaurant should be well positioned for the current interest in your locale.
The food service business is the third largest industry in the country. It accounts for over $200 billion annually in sales. The independent restaurant accounts for about 20% of that total. The average American spends 15% of his/her income on meals away from home. This number has been increasing for the past seven years. In the past five years the restaurant industry has out-performed the national GNP. Many reports on the restaurant business indicate reasons like changes in lifestyle, the economy, and demand for variety have had an impact.
The predicated growth trend is very positive both in short and long-term projections. As modern living creates more demand, people will be compelled to eat more meals away from home. Consumers are always looking for that next new eating adventure.
It’s not the money you make; it’s the money you save.