By Ken Gooz
Just like any other business, every restaurant wants to grow into a successful venture that rolls in huge amounts of profit and is lucrative for the founders, investors, managers, staff as well as customers. However, setting up a restaurant business is one thing but sustaining the cycle of profitability is another. Most restaurant concepts that do not innovate their operational methodologies or face a crunch of funds, especially in distressful fiscal times, tend to lose out to competition and become obsolete. As an owner or a manager, you might be required to take care of daily store operations. But that might not leave you with enough time to devise ways to grow your business. When the economy takes a downturn, competition begins to surmount and your personal funds begin to become thin, your P&L sheet may actually go for a toss! No matter how popular or successful your chain restaurant may be, when calamity strikes, it may run out of business! This is where it becomes imperative turnaround chain restaurants or multi-unit restaurants.
A turnaround chain restaurant undergoes a complete overhaul in terms of its business processes, quality and style or service, operations and employee as well as customer management. To seek a chain restaurant turnaround service, it is important that you approach a reputed and experienced restaurant consulting company that has years of experience in the food-service-restaurants business, is well acquainted with the changing restaurant trends. A distressed chain restaurant with drifting profits needs a leader in the true sense of the term to grabs the reins in his hand and to pull the restaurant units out of their predicament; in other words, give it a successful turnaround.
In today’s competitive business environment, it is quite important to sustain service and delivery standards while upholding a high EBITDA. Professional restaurant consultants help distressed chain restaurants at every stage of their turnaround. From offering advice to achieve a successful turnaround to giving your chain restaurant a turnaround on your behalf, they are specialized to tackle all sorts of problems concerning multi-unit restaurants occurring at just about any stage. Experienced restaurant consultants can review the guest experience levels and factors that have led to a low EBITDA. They also help to develop debt restructuring strategies and review the overall financial health of your chain restaurant. At the same time, they also review operational efficiencies, management accountability, product supply and cost management as well as brand performance. They help to formulate new marketing plans, help you gain control over employee and payroll management and lease negotiations to get the profit margins rising.
If you too have an underperforming chain restaurant that needs a turnaround, consult expert restaurant consultants at www.mainstreetrestaurants.ca