Whether your restaurant has been open for 40 years or launched during the pandemic, congratulations on battling through the last year. From staffing challenges and inflation to changing customer preferences and rising costs, 2023 has been another tough year for restaurants. But you did it. And to help you not only survive but thrive in the years ahead, we’ve compiled a list of ways you can make running your business easier.
1) Renovate
Have you had a spike in online orders over the last year? What about guests wanting to sit outside? If you answered yes to one of these questions, it’s time to renovate. Your renovations could include changing the layout of your restaurant so there’s a dedicated space for picking up online orders, adding an extra bathroom or more room at the bar if guests are often waiting, or turning part of your parking lot into a patio so diners can eat outdoors and you can serve more guests.
2) Add new tech
Learn how you can change your restaurant POS system in 6 steps.
The state of labor in restaurants has affected us all in different ways. But with seamless technology, it doesn’t have to be as big of an obstacle in 2024. QR codes can help guests control their dining experience, handhelds can help servers take more orders with less errors, online ordering can help you increase sales, and digital reservations and waitlists can help you reduce wait times and improve guest relationships.
3) Hire more staff
Whether you need more staff year-round or simply need a few extra sets of hands during football season and the holidays, it may be time to allocate some of your budget toward hiring more staff. This will help ensure your current staff isn’t overworked and help you turn more tables, increase profits, and improve your guest experience.
4) Update your equipment
Does your oven get as hot as it used to? What about your freezer—is it keeping your inventory cool? If any of your equipment is on its last leg, there’s no better time to replace it. Updating your equipment has many benefits for your business, including making your kitchen more efficient and reducing errors from items being undercooked or overcooked.
5) Open a new location
Did you have record sales over the past year, or were customers asking if you could deliver to their area of town or city? If so, it might be time to expand your restaurant to multiple locations and grow your loyal following.
Next steps
Upgrading your restaurant costs money, which isn’t always easy to come by, especially with inflation and rising wages. Learn how you can access hassle-free, affordable funding with our free financing guide.
If SpotOn Capital sounds like the right solution for you, get started and make one or all five of these pointers a reality. With our short-term small business loan program, you can get an affordable, transparent, and accessible loan to help you take your restaurant to the next level. Plus, SpotOn Capital loans have one fixed rate, no hidden or prepayment fees, and you can get the funds as early as the next business day after approval.
Download this checklist to see if you qualify, then contact your SpotOn Account Executive or click here to learn more. Our Customer Success Team is here to answer your questions and walk you through the loan process on your SpotOn Dashboard anytime via email at support@spoton.com or by calling 877-814-4102.
