What you need to turn around your business
Independent F&B operations or restaurants groups going through either slow or rapid growth needs hands-on management; a kind of leadership which involves the establishing of a new communication process with the different departments teams; the common goal is to get everybody working together with decisions and strategic planning that get them closer to the vision itself.
The leader shall interview each member of the management team, understand restaurants operations and how
they are executed, talk with operations team members and guests.
There is no turnaround without a direct understanding of the actual situation and a clear setting of the actions plans to move forward.
A short-term 120 days can do a lot to change the momentum of a concept.
Initial goal is reinforcing trust in the varoius teams if their members deserve to be kept on board.
They need to feel there is a new plan for success and proper steps are being taken.
are made of interactions between four elements: people, place, products and positioning. A successful approach for managing these elements is the key to success in any turnaround process.
Turnaround consultants analyze as well evaluate where and how the overall expenditure can be reduced and the cash flow improved.
At same time tey analyze staff’s performance and consider terminations or promotions or changes of positions.
They also propose to get rid of assets that the business does not need or limit products production and services that are not profitable; all this to reduce cost.
For your business turnaround you need an expert who knows the industry inside and out, soomeone who has either owned and/or managed several non-branded, independent businesses, with years of experience in managing this or similar type of venture.
When choosing a consultant you need to have clear his track record in both management and also preopening.
Ultimately a check of his record in terms of references and success is always recommended. Previous clients or employers can provide feedback and eventually talk about how effective the expert was in implementing the changes needed and improving the business