Photo by Tim Mossholder from Pexels
This question, and many variations of it, has been posed to our team time and again over the past few months from our F&B clients. Yes, in the majority of situations, restrictions have adversely and significantly affected revenue. And yes, the general uncertainty that clouds many governments and businesses is far from helpful. But it’s not all bad. Before we attempt to untangle this question, let’s pause for a brief moment to set the mental stage with the musings of Lewis Carroll’s Cheshire Cat from Alice in Wonderland.
Alice: Would you tell me, please, which way I ought to go from here? The Cheshire Cat: That depends a good deal on where you want to get to Alice: I don’t much care where The Cheshire Cat: Then it doesn’t much matter which way you go
The answer to the initial question, and to borrow words from our beloved Cheshire Cat, really does “depend a good deal on where you want to get to”. Regardless of whether your goal is to sell or expand, your efforts in positively contributing to the value of your business will be rewarded. Answer: Stay open.
It’s more important than ever to stay relevant and to be available for your customers. You won’t get new customers if you are closed. Staying open, keeps you connected. Staying open may even qualify you for government subsidies and grants. Staying open keeps your community alive.
Having had this conversation a number of times, we have collated a selection of questions that we have posed to our clients on staying open in a manner that is viable and feasible. Can you:
reduce your opening hours, days or both?
work (or work more) in the business to save labour costs?
reduce opening hours?
reduce menu options?
increase prices on popular items?
ask for a discount from suppliers and utilities?
negotiate harder with your landlord?
cross-skill staff to take on additional responsibilities?
Good questions will get you closer to the right answer, and good data will get you even closer. Zii’s all-in-one F&B platform can give you all the information needed to make smart decisions on questions like the ones above.
Get in touch today to start your F&B digital transformation.
Dave