Interruptions to your business can be hugely damaging to your bottom line, and many brands in the hospitality business have realized this more so than ever in 2020 with social distancing and lockdowns forcing them to close their doors or limit their number of guests for extended periods of time.
Business closures, however, aren’t always mandated by the government. Most bars or restaurants will likely experience a temporary closure or two during their lifetime, whether it’s due to a renovation, an update to health and safety standards, a rebrand or a long list of other reasons.
No matter the reason your business has temporarily closed, it can be a positive thing. It gives you the time you need to make improvements to your business, boost your bottom line and implement new measures that make your restaurant or bar more profitable moving forward.
Since temporary closures do not happen often, many restaurants and bars struggle to create a plan that prepares their business for a shutdown and the eventual reopening.
That’s why Sculpture Hospitality is delighted to announce the launch of our brand-new ebook - The Ultimate Guide to Managing Your Restaurant or Bar in Times of Interruption.
The free downloadable ebook has been specifically created by Sculpture Hospitality to help restaurants and bars prepare for both the closure and reopening of their business, with shutdown and reopening checklists created to ensure both processes are seamless.
Alongside that advice, we have also included some tips on how to maintain a positive cashflow during your closure, as well as how to increase profits when you open your doors again.
Advice in the ebook for hospitality businesses preparing for a temporary closure include:
How to prepare for a temporary closure of your business
A temporary closure of your restaurant or bar is a challenging period of time, but strategically preparing for it will put you in a good position to maintain a healthy bottom line while you are closed.
This includes best practices such as setting an official date, a communication strategy for both employees and customers, and creating a budgeting forecast for the period of time that your business will be closed.
How to maintain a positive cashflow while your restaurant or bar is shut
Just because the doors of your physical restaurant or bar are closed, doesn’t mean you have to stop completely making money. In fact, there are plenty of things that your business can do to ensure you maintain a positive cashflow, these include:
- Selling your deadstock.
- Managing good debt vs bad debt.
- Serving takeout to customers.
- And many other methods!
How to reopen your business after a temporary closure
Once your temporary closure is over, it’s not a simple case of opening your doors and letting your customers flock in. This is a fantastic time to create a plan that ensures you can manage operating costs, improve process efficiencies and become more profitable moving forward.
When getting ready for your reopening day, consider things such as building a new menu, implementing an inventory management strategy and creating a marketing program to improve the profitability of your business.
How to increase profits once you have reopened your doors
You’ve now reopened your doors, but the fun doesn’t stop there. Training your employees to upsell, improving your ordering through just-in-time inventory data and creating manager bonus plans are all measures that will help you retain top talent, save on costs and bring in higher profits.
If you want to read about successfully closing and reopening your restaurant or bar business in more detail, then please do download our free ebook below. If you have any further questions, then don’t hesitate to contact Sculpture Hospitality today. Our team of hospitality experts would love to answer any questions that you may have about improving your business operations.