The crowded field
Starting a business in a crowded field is a very daunting task. Especially if your competitors have an established customer base and a rock-solid marketing plan that brings in customers regularly and predictably. One of the most common business that many people start are a restaurant is because it is a business that many of us are familiar with (at the minimum, were all customers at one point or another). However, most likely someone that starts a business has restaurant experience either with the operations side or the food prep side. Either one may think that they have the ability to own and operate their very own restaurant. Indeed, both of these individuals are probably very skilled technicians at what they do. So why then do the majority of restaurants end up closing? Here is a list that was compiled by possector.com
Low start-up capital
Poor knowledge about competition
Wrong Location
Poor restaurant promotion
Inconstant offer
The bad partnerships relations
Poor inventory and staff management
The lack of original ideas
These can all attribute to a business failing. What I believe, what isn’t listed here. Is a solid marketing plan. If your going to start a restaurant, just opening the doors and hoping people will walk in is dooming your self for failure. The business is going to have to stand out. Building the restaurants brand by putting the owners face all over the place talking about how awesome their place is and how unique it is, is a good place to start. Individualize your company, especially if you’re a small business. Let people know that you are a small business and that you’re a real person. This little tweak can mean the difference in staying in business. Its going to take a ton of effort, but I do believe this is essential to the viability of a small business. This approach applies for all businesses of any type. Personalize, let people know who you are. If you need help getting your businesses marketing plan started and off the ground. Please reach out to me, I would love to help you achieve success.
Thanks
Jason St Clair