Recipe For Success: What The Most Successful Restaurants Have Been Doing To Stay On Top

When the recession surfaced in late 2008, America's business world took a serious blow and the restaurant industry was no exception. Restaurant owners - particularly independent operators - watched as their guests retreated from their place of business and opted to stay home in the interest of saving money. Many independent operators were forced to shut down due to decrease in sales, while
select restaurants were able to rise to the occasion. What set these elite few aside from the rest?

Practicality

When it came to crunching numbers, the most successful restaurants managed their finances with the greatest amount of expertise and frugality. According to Sandeep Mahotras, project manager for Technomic and expert in the restaurant and hospitality industry, the businesses that focused on stepping up on cost analysis management, price shopping, consolidating purchases and maximizing productivity flourished the most.

Creativity

When it came to acting fast in a bind, the best independent restaurant operators were able to think outside the box. New menus were churned out re-engineered towards their new post-recession clientele. These new menus featured portion and price flexibility as well as more choices when it came to mixing menu items. Even in the world of business, creativity counts. Consider the opinion of Nassim Nicholas Taleb, expert in improbability:

"The next killing in the restaurant industry needs to be an idea that is not conceived easily by guests."

Think about it. If running a successful restaurant was obvious and known, everyone would be doing it. The key is to offer your guests something that no other restaurant can.

Excellent Service

Finally, the most successful restaurants were able to improve their service. When guests come to a place of business to eat, it is an experience for them, not just a meal, and yes, guests DO come back to a friendly, happy staff. The waitstaff of your restaurant is imperative to its success as a business. The service your guests receive will shape your business' reputation and it can be the difference between a repeat customer and an angry, hungry person. Take the time to be choosy with who you hire, train your wait staff thoroughly, and treat your employees well.

Although the restaurant industry is slightly improving in 2011, independent operators aren't ready to get comfortable just yet. Time will tell what the most successful restaurants will be doing this year.