What you need to turn around your restaurant business
Independent F&B operations or restaurants groups going through either slow or rapid growth, need 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 Consultant shall interview each member of the management team, understand restaurants operations and how they are executed, talk with team members and guests. There is no turnaround without a direct understanding of the actual situation and a clear setting of actions plans to move forward.
A short-term 120 days can do a lot to change the momentum of a concept.
One of the initial goals is to reinforcing trust in the various teams members. They need to feel there is a new plan for success and proper steps are being taken.
Another important point to consider is that restaurants are made of interactions between
four elements: people, place, products and positioning. An in-depth approach for managing these elements is the key to success in any turnaround process.
Turnaround consultants evaluate where and how the overall expenditure can be reduced and the cash flow improved. At same time they analyze staff’s performance and consider terminations or promotions or changes of positions. They also propose to get rid of assets not needed or limit 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, someone 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