Modify a Restaurant’s Business Model

How to Respond and Modify a Restaurant’s Business Model for the New Post-Crisis World

At this time that a lot of industries are confronted with a system shock as a result of the disarray that Covid-19 has brought, a paradigm shift upon almost all businesses, including those in the restaurant industry, is so much needed. Covid-19 will forever change the restaurant industry and the need to structure the way we look forward on the end of the consumers, operators and manufacturers require us to work on concept development based on the long term impacts of the pandemic.

What are the key shifts for restaurant operators after the Coronavirus era? To keep the business going, we are foreseeing the following shifts in the concept development of restaurants:

The Physical Meets Virtual

We have to be prepared the next time there is a crisis and now is the perfect time to come up with alternate solutions to ensure business continuity. We should establish various routes to market and discover new profit streams where the brand value will go beyond the constraints of the physical location. Concept development should revolve around improving the restaurant’s virtual footprint, increasing delivery capabilities, and innovating other revenue streams such as having food lockers and curb-side pick-up options. Technology should be an enabler in the new world.

Maintain a Buffer for Difficult Times

Businesses will continue for sure, only it is experiencing a slow down now. It’s crucial to re-define sustainable growth by not overstretching your business’ ability to grow. Maintain a buffer for  the thorny times. A good concept development route is to invest more on the technological strategies side.

Adapt Your Menus to Covid-19

Restaurants are forced to be creative and modify their menu based on the priorities of the customers in this time of pandemic. That is to put emphasis on meals that help build a strong immune system. The need to jump into the fray and offer more variations of immunity-booster food is the way to attract back customers. Health is the top priority of most people now and your restaurant should not be left behind in offering food options that are packed with nutrients.

Focus on Food Safety and Cleanliness Standards

When working on your concept development, make sure that the new rules in your restaurants adhere to food safety and that cleanliness is prioritized. You cannot underestimate the power of published reviews online that the FDA  or other third party organization can do to make or break your restaurant business. You need to have someone monitoring the reviews about your restaurant and you must act decisively and quickly about any concern being raised about you.

Explore Other Revenue Streams

While the dining in option is not attractive to restaurant patrons at this time, operators should explore other options that maintain a steady flow of sales. Having a grocery store in restaurants certainly brings in revenue, partnering with the local government to be a relief kitchen in feeding communities, offering meal kits and food locker services, enhancing the takeout and delivery services, and exploring the curb-side pick-up all provide means of re-inventing a restaurant business.

Get Help from the Experts

If you are keen to re-invent your restaurant business and need the help of an expert, the best way to go is to consult eRestaurant Consulting. The team has solid experience in restaurant operations and can give you expert advice on the best course of action in this very challenging time of rapid and drastic changes in the restaurant industry.