Running a restaurant successfully is all about keeping costs under control. With that said, there are some things that are worth spending money on to ensure your diners have the best possible experience. Here are four things that restaurant owners should consider splurging on.
The Bar
Both in terms of the physical structure and the selection of beers, wines, and spirits behind it, your bar is worth investing in. A great-looking bar can be a centerpiece in your restaurant that helps to pull the rest of the decor together. Likewise, a great selection of drinks will encourage your patrons to spend a bit of extra money, making your restaurant more profitable. Every after-dinner drink or extra cocktail can increase your profit margins, so make sure you have a great selection available.
Floor and Ceiling Decor
Too often, restaurant owners focus exclusively on booths, tables, and chairs and forget that the floors and ceilings of their restaurants also go into creating the right atmosphere. Good flooring and high-quality restaurant ceiling tiles can help your establishment look better and stand up to years of commercial use.
Kitchen Equipment
As important as keeping costs low is, no restaurant owner should ever try to cheap out on his or her kitchen equipment. Having up-to-date, properly functioning equipment is absolutely essential to ensure your kitchen can meet the heavy demand of diners on busy nights. Old kitchen equipment will also result in frustrated kitchen staff and prevent your chef and line cooks from working smoothly and efficiently to execute your restaurant’s menu.
Staff
Speaking of staff, it’s always important to invest in your staff to avoid high turnover rates, low morale and poor performance. While most states allow restaurants to pay low wages that are then offset by tips, it’s often a good idea to pay your staff a bit more than the required minimum. This will help them achieve a bit more financial security and make them more dedicated to you and your restaurant. Investing in basic benefits like paid vacation time and sick days can also help you set yourself apart from most other restaurants and attract the best workers in your area.
By investing in these four things, you can set your restaurant up for more revenue and larger profits. Remember, it isn’t so much the amount you spend as how effectively you spend it that will determine your success and the return on your investment.
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