Becoming a restaurant owner is so much more than just having a passion for food. It’s about wearing many different hats while still trying to create a successful business that can support them, their families and their staff. In order to do this, there are a few key aspects of the job that every restaurant owner must understand and develop.
Developing a Strong Business Plan
A business plan and subsequent strategies are the foundation of a good restaurant. It is more than making and serving food, it is a business. So, step one is to treat it like a business.
Being a Good Manager
A restaurant owner must also be a manager. Managing staff and making sure that everyone understands their individuals’ jobs and executes them properly is a very important part of the restaurant owners' task list. An owner must manage the front and back staff, help resolve conflicts and communicate their expectations clearly.
Promotions and Marketing
As a restaurant owner, it is your responsibility to execute a good marketing plan that will keep customers returning and solidify a steady flow of new customers. This means using social media to your advantage, bringing in promotions that your customers will want to take advantage of and keeping your restaurant’s name front and center both online and in your local community.
Finances, Budgets, and Inventory
From basic bookkeeping to tax returns, these are tasks that can be farmed out to a bookkeeper or accountant. However, as an owner, you must still be able to follow along and understand how to balance the books. It is your business and this is a job that if not done correctly can ruin your business. Success depends greatly on a strong working knowledge of the finances. Inventory, even it’s the staff that does it must still follow a budget. As an owner, you should be able to see an issue as it develops and deal with it quickly and efficiently.