Sugar Ft Stomp Food

Archive for December, 2009

a number of ways to market your business though your options may be limited by your budget, don’t go into hiding, there are ways to reach your prospects and clients on a smaller budget.

Rethink your business plan; it is the overall plan for budgeting and growth that you set in the first place when opening the restaurant. Revisit the plan, making sure that you asses each and every detail to find out how you will have your strategy changed for the betterment of the business. This involves putting growth on hold, anticipating inflation and minimizing all the investment in overhead expenses.

Examine your profit and loss statement:- before you decide to cut on the cost, go through your profit and loss statement line by line to see where you can possibly be able to trim down the expenses. Cut out the costs of things that are not going to affect your normal running or interfere with your work. Start by accessing the smaller costs then move on to the bigger expenses later on to see what you can save. Every profit and loss statement is different on its own, knowing your income and expenses will put you in a better position to make decision regarding your business.

Inspect your food cost:- in every restaurant food cost and labour are the most important things to watch out for. Have your food cost inspected very often. Look at how much is spent on every single item, are you paying too much, is the food going to waste, these are just but some of the few things you need to know. Reduce the waste by preparing food in small quantities but good quality. Store the foods in a way that they will stay fresh for long. Always clear the last stock first before going for the newly delivered foods. This way you will ensure that the items do not expire on the shelves, consider the first in first out rotation.

Get the best deal:- every time you are taking a new stock, ensure that you get the best deal. Communicate frequently with the supplies to compare prices of food and beverages.

Analyze your menu items-are you serving the right proportion to your customers? Go through the gross profit on each item, how many are sold and are you making any profits. Do away with any item that does not make profit.

Promote your value proposition:- with the high competition from within; always make sure that your restaurant stand tall among the competition. Every one wants attention, guests and revenue. Have a smart effective marketing strategy, be unique and environmentally friendly. Provide an exceptional experience let customer service and quality be your top most priorities. Train your people to put customers first.

Be willing to adjust at all time:- go through the menu and see where you can adjust to suit the current customer market trends. If you find that more healthful foods will sell in your place then you can choose to change the menu. Remember some changes may benefit your restaurant and attract more customers. Invest in your people; value your workforce by giving them a slight raise in their wages, reward them it will motivate them to even work harder and stay focused to the future.

Retail properties such as the shop, pub and restaurant obviously have large numbers of the public enter them on a regular basis. As such it is essential for the owners of this type of premises to obtain decent insurance that will cover the business from all aspects of operational activity. For a shop, restaurant or bar having members of the public inside the premises is the ultimate objective when trying to make money. Covering the business from the dangers that the public bring is however vital.

It is an untenable situation to be constantly worried about having the public on a business premises when in the retail or hospitality industry. There is literally no way to run a business with this constant fear, so for piece of mind, those in this industry regularly utilise shop insurance policies. It is an inevitability that accidents will happen when in the retail industry; for instance, those who own a shop will at some point have boxes in the aisles or spillages on the floor, naturally at some point it is likely that someone will fall over; this is where insurance pays dividends in protecting business finances from lawsuits.

It is not always the members of the public that need to be worried about however, as a retail manager just as important a concern is the activities of staff members whilst they are on duty. For instance, restaurant workers will often have to carry hot or heavy items leaving open the opportunity for lawsuits against the business for injury. Insurance can once again help employers protect themselves from this type of lawsuit with specialist policy inclusions. Another inclusion that is frequently taken by shop and restaurant owners is theft or fraud insurance, this can help the company recover should a member of staff help themselves to money from the till or safe. The following is a brief list of some of the most important forms of insurance for the shop, restaurant or bar.

First and foremost any business, not just those in the retail sector must have employer’s liability insurance. This has been a compulsory business concern since the sixties and the release of legislation that placed the onus of health and safety responsibility squarely on the shoulders of the employer. Fundamentally this type of policy covers employers from any illnesses, injuries or even deaths that may occur when a staff member is working on the business premises.

While the last inclusion was compulsory for all businesses, the next is more suited to the retail sector and although not legally needed, is worth buying purely due to good business sense. Essentially public liability insurance helps to protect a business from the actions of members of the public whilst they are on the premises or using the business’ services. This will help with compensation payouts and in most cases will also cover legal fees.

Any shop should take out some form of buildings cover. Like a residential property business premises are just, if not more, susceptible to instances such as fire, thefts and break-ins. As there is normally a large financial investment in the business premises it is advisable to cover it. As an adjunct to this it is especially important for shops to have some form of stock insurance, it is often the case that the stock present on a business premises represents a major financial investment. Insurance can help in protecting this stock from instances such as theft or damage.

It is hoped that this information has helped to clarify the essential need for insurance in the retail industry. For those who run a shop, bar or restaurant it is a vital decision that should be taken early when beginning operations.