It is undeniable that the impact of the pandemic on business continuity in various sectors is one of the biggest challenges in the last 2 years, and this is especially felt in the F&B industry.
Jessica Schwarze, VP of Lead Generation at Nimbly Technologies, recognizes that business demands that your F&B company continually improve and redefine its offerings as your market evolves. But how do you create a strategic plan when services, products, and markets are constantly changing?
There is no denying that the coming months will still be difficult for most of the restaurants.
Jessica and the Nimbly Team conducted research and spoke to numerous Nimbly clients throughout Asia, and we have summarized the findings in a FREE eBook entitled 8 Powerful Ingredients for F&B Success in the COVID and Post COVID Era.
Here is one of the 8 strategies highlighted in the ebook, namely the four Costs and Revenues F&B operators should analyze before Reopening their Restaurants:
Reopening a restaurant can bring significant costs, including manning, food and beverage stock, and possibly fees for renovations needed to make your stores compliant with new regulations.
Consider these costs when you run the numbers while planning your reopening.
Stricter hygiene regulations leading to longer cleaning times and greater product use, as well as the need for PPE for staff and guests, are just a few new cost factors you need to budget for. In Singapore, for example, indoor restaurants must invest in enhanced ventilation.
With travel being so heavily restricted, look into whether you have a different target market now compared to before the pandemic. This is important to know since local guests can be more price sensitive.
Having a good overview of your costs and being able to eliminate all the unnecessary ones has never been so important. Removing high-cost and low-profit items from the menu is a good place to start.
Make your operations as efficient as possible by investing in automation and digitalization where possible to enhance productivity, performance and to save money on manning. In other words, Use tech tools to better schedule your staff, streamline workflows and avoid wasting valuable resources.
In addition to operational strategies, innovative ideas and marketing strategies that sell are indeed one of the key factors in driving sales. That's why we'd also like to share some ideas that you can consider to drive sales during your restaurant's reopening.
And we've covered it all in our free limited-time offer ebook entitled 8 Powerful Ingredients for F&B Success in the COVID and Post-COVID Era.
In this book, we aim to help you understand what matters to customers and how to create an F&B strategy geared towards development and growth.