06 12 2014

06 12 2014

How To Improve Your Restaurant On A Budget

Owning a business is hard enough, but when you’re running a restaurant, the number of variables and uncertainties seem to double. How many servers should you hire? What kind of food will you be serving? How late should you stay open and how do you get the word out about your services? Perhaps most importantly of all, how do you constantly improve your restaurant while on a budget? Here are a few tips:

Focus on staff strengths

There’s no need to reinvent the wheel when you’re running a restaurant. If you got involved as an entrepreneur because you had perfected some family recipes and possessed the drive to manage a business on your own, stick to those strengths. For example, if you have a chef who’s particularly talented in the ways of American dining, deciding to add Asian fusion items to your menu may be a risky move – the last thing you need are negative reviews bashing the newest additions to your restaurant.

Similarly, make the best use of your staff. If you have an employee who is great with numbers and budgets, try training that individual in management. It may be difficult to let go of certain aspects of your business and trust others with daily operations, but if you’re going to succeed and stay sane, it’s important to delegate.

Reduce unnecessary spending

Running a restaurant means juggling countless variables, from food choices to staff assignments. If you’re having a slow day – everyone knows that’s going to happen sometimes – consider sending some staff home early to reduce spending costs. In order to cover these staff members when they leave early or call in sick, cross train employees in both management and serving. You can save yourself some money while helping your business run more smoothly.

You can also keep wait staff on call for days that tend to be slow. If you get a certain number of calls asking for reservations for that night, you can call in staff early that day. If not, you won’t be bringing in staff unnecessarily.

Consider alternative lending

Whether business is booming or you’re struggling to make ends meet, a small business loan can help a restaurant in a variety of ways. If you’re thinking of expanding into the building next door, a loan can help you achieve just that. On the other hand, if you’re having monetary trouble and need assistance to stay in business, financial options from companies like National Funding can make all the difference. Consider contacting National Funding today to find out more about financing and leasing restaurant equipment for your business.

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Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

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The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

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