WHO Do You Think Your Most Important Customer Is???
Ask a restaurant owner who their most important customers is and they'll likely name some big spending regular or a company who makes large catering orders. However, we believe your most important customer may not have even seen your restaurant yet. We're not talking about the people who buy your food and beverages, but the one customer who will eventually BUY your business. As a restaurant operator or a business owner, one of your greatest opportunities for financial gain is when you ultimately SELL your business. Here's a short-list of things you should be doing NOW to enhance the value of your business in the eyes of a potential buyer regardless of when you think you'll be ready to sell.
Report all your sales, don't ever skim
Keep good accounting records and prepare accurate financial statements
Keep track of your lease renewal dates, don't get blindsided and lose your lease (and your business)
Make your restaurant "systems-dependent" not "YOU-dependent" by creating manuals, procedures and checklists (operating systems) in every area of your operation
Develop great managers so you can manage managers and your managers can manage the employees and run your restaurant
Build a customer database with the names, birthdates, anniversary dates, addresses and email addresses of your regular customers
Don't let any part of your facility look tired or worn-out, always keep up your restaurant's appearance and well maintained.
Notice that most of the points above will not only help you have a more valuable business to sell down the road but will also help you be more successful in the short term as well. Let Mystique Consulting assist you in all these areas.
Contact us for an appointment:
http://nickquetan.wixsite.com/mystique
