Owning a restaurant is an exercise in problem solving and overcoming challenges. The majority of restaurants fail by year three. Quite simply, it is a tough business to launch and sustain. The good news is there’s a light at the end of this entrepreneurial tunnel.
The end of October and beginning of November signal the start of the holiday rush. This is one time of year that local restaurants can capitalize on promotions to draw in a crowd. There is no better time to promote your business than among a throng of holiday shoppers a-buzz with good spirits, hungry bellies, and good cheer. The trick to keeping your customers well-fed and satisfied is to choose your trends wisely.
3 Holiday Trends to Watch
As the holidays descend, people develop the keen eye for the best deals and steals of the season. If your restaurant supports the right trends, you can keep the revenue coming in all year long. Sure, small business loans with bad credit may have a hand in your success, but that’s just a starting point. Real success occurs when your business is self-sustaining.
Here are three ways you can reach that level of sustainability faster:
Holiday Trend #1: Keep it simple. The last few years have seen restaurant goers become penny pinchers, but as the economy continues to recover, so too do the taste buds. What tastes do restaurant patrons respond to most? Think comfort foods. Things like: hamburgers, milk and cookies, homemade bread, classic cocktails, bacon, and homespun desserts. The key is to focus on quality and market your dishes with a touch of nostalgia. Nothing says happy holidays like giving someone a meal just like mom used to make.
Holiday Trend #2: Proving your chops in-house. Words like “artesian” and “restaurant-grown” have found their way into our everyday vernacular. Restaurants have started to invest in locally grown ingredients and menus that change with the seasons. During the holidays, focus on themed specials and limited time offers to create buzz for your establishment.
Continuing this trend is rewarding, but it is also challenging. Allow yourself a small window to test this strategy out. If the returns prove promising, consider adopting this trend long-term.
Holiday Trend #3: Bring the dining experience home. A lot of popular restaurant chains used to be resistant to this idea, but as the economy got worse, they started losing money where they could gain it. This meant launching a product line of name brand frozen meals that shoppers could get at their local grocery store and enjoy at home. This supports long-term sustainability, affordably.
Advance Funds Network (AFN) has worked to get restaurants the funding they need to invest in and test out various trends.
Small business loans with bad credit give you unrestricted access to cash flow that changes menus, launches product lines, and develops brand identities. Small business loans with bad credit can turn your restaurant from holiday hotspot to a crowd-pleasing favorite no matter the season.
