Understanding How to Manage a Restaurant
It's been shown that approximately 59 percent of restaurants fail, and more than 90 percent decline rapidly within the first year of business. That's because all too many entrepreneurs fail to consider how to manage a restaurant before getting started. The best place to start is with a proper feasibility study and solid business plan. You will also need a well thought out employee manual and competent training program. Once you have the right base established, you can then work on setting specific goals to achieve.
Time is Money
When it comes to running a restaurant, the term "time is money" couldn't ring truer. There are so many tasks to complete in a single day, and this all too often results in inadvertently cutting corners when it comes to financial management.
TRG Remote Management was created as a cost-effective solution that is designed to help manage a restaurant’s P&L statement, while also providing actionable feedback to enable management to take corrective action.
Currently, most independent restaurants don’t receive profit and loss numbers until mid-month or later (if at all), which can create challenges for accurate budgeting and financial forecasting.
TRG Remote Management includes a detailed budget model that allows owners to establish financial goals. Our remote management service analyzes daily sales and expense data, allowing managers and owners to form any necessary adjustments during a much shorter time frame rather than waiting for the end of a month, quarter, or year. This allows restaurant operators and managers to streamline business operations and improve profitability.
When you invest in TRG restaurant management, you will develop a strong team capable of avoiding common mishaps, thus allowing them to spend more time focusing on the day-to-day operations and customer service.
Success Comes to Those Who With Persistence...
The fact remains that most restaurants fail. However, that doesn't mean yours is doomed. Whether you are new to the industry or have been in business for years, there is hope in hiring a restaurant management company.
We understand the ins and outs of the business, and don't only help you find new ways to approach problems, but also help you create a a restaurant that will stand the test of time.
For owners and operators of multi-unit restaurants that need a deeper engagement and partnership in their business, very similar to that of a COO or CFO, our restaurant consultants become an integral a part of your organization focusing both on the financial and operational aspects of your restaurant.
