One of the most competitive industries, the business of operating and maintaining restaurants is a cutthroat competition that requires a lot of attention and care. With many emerging talented chefs and investors backing them, there is truly a serious competition to get diners on a daily basis. One of the best ways to ensure your restaurant remains trendy, updated and in the radar of the dining public is to have restaurant remodeling done by a reputable remodeling company such as Diversified Construction. While it is indeed complicated to plan for work construction and renovation, studies show that a restaurant remodel every 5 to 10 years can give you up to 40% net increase in your daily sales record. Here are some of the prime essentials of restaurant remodeling.
Let’s Talk Logistics
The real cost of restaurant remodeling can be based on the size of your business, budget, the extent of the redesign and of course, your location. If you are thinking of undergoing a restaurant remodeling project, the first thing that you need to determine is how much money you should put into the construction remodel project, then fashion a budget to carry out your plans. There are many factors that you need to consider such as:
- Present sales
- Operating expenses
- Business financing eligibility
- New Loan terms
- Amount you can afford to spend out-of-pocket
- Impact of the restaurant remodel on the cash-flow in the short term
One important aspect to note when you plan on your new restaurant construction project is the price point of your food and dining business. For instance, if you are operating a fast food joint, there is really no immediate need to spend a lot on aesthetics so as to meet your customers’ expectations compared to a high-end dinner place might.
Staying Open During The Remodel
The average length of time of a typical restaurant renovation project takes around 6 to 8 weeks to complete. Unless your renovation plans are only minor, there is certainly a point where you need to close for at least a section of the work. Many if not all restaurant owners find it frightening to consider closing their dining establishments for the time being as this is their primary income stream. However, a study done discovered that businesses especially restaurants that temporarily closed for renovation, saw a much bigger increase in sales, once work was completed compared to those that chose to remain open.
Probably the biggest reason to close is that, in between the noise, dust and debris, equipment lying around, it is practically impossible to provide the same quality of service to your customers during the renovation. Keep in mind that bad service can do more damage to drive away customers than the idea of having to wait for the reopening. You can lessen the impact of the restaurant’s closing by finalizing the renovation details of work and coordinating with your builder with timelines for each section with your new restaurant construction company.
Announcing the Restaurant Remodel
Staff – It is important that you do the right thing and announce the renovation including the timeline for closing to your staff as soon as work is about to commence. A lot of owners fear that closing too soon might leave them short of staff in the lead up as their current employees begin to find other sources of income. However, if you offer your staff time to budget for a new renovation, it can lower the probability that your best people might leave.
Customers – You can announce the restaurant renovation at least a week before closing or as soon as your contractors begin work in areas where your customers will notice. Throughout the renovation, you should share updates by providing images of the project on social media or your restaurant website in order to drum up excitement. Announce the reopening at least 1 week before the actual date along with any promos and specials you offer for your returning customers.
Remember Your Regular Customers
Restaurant renovation provides a big opportunity to attract new customers to your place. However, if you already have a loyal following it is vital that you show them some love and include them in your plans. Regular customers that visit on a weekly or even a daily basis will think that what you are doing is absolutely correct. So it is important that you include them in the loop about your restaurant remodeling plans and ask their opinion on what they would like to see change and what they want to stay the same.
Know Thy Neighborhood
As with any business endeavor, the success of your restaurant will rely a lot on understanding and providing the needs of the customers. Check out some demographic information on the area to know if the customer base has changed since the opening. For instance, does the data show more young people have moved to the area? It would be a wise move to renovate the bar section to appeal to a much younger set, or consider adding a bar if you do not have one. The actual specifics will depend of course on the kind of place you own and operate but it is a smart move to know who would be the likely folks that will walk through your front door.
Increase Your Efficiency
Restaurant remodeling is one of the best ways to increase the efficiency of your service to your customers. When customers are satisfied with how the restaurant is designed and paired with excellent food and service, your continued success is definitely guaranteed.