How do you measure your restaurant’s success? Last summer, OpenTable acquired Copilot, a powerful service that helps restaurants identify how to grow sales by benchmarking with similar restaurants. Here, OpenTable’s Director of Product (and Copilot co-founder) Eli Chait lists the top metrics you should be tracking and explains how each one reveals new opportunities for your business.
In this second installment of her How to Open a Restaurant series, hospitality consultant Alison Arth takes on one of the biggest decisions for any new business: location. Read on to learn tips for choosing an area that will set you up for success from day one.
For those in the restaurant business, “location, location, location” is a phrase we’ve all heard more times than we care to count, and for good reason. Choosing a location is a critically important decision that can quickly turn a solid, well-conceived business plan into a failed restaurant if not handled properly. In addition to being one of the most significant determinants of your financial viability, decisions regarding location aren’t easy to undo. Changing your mind will be expensive, difficult, and damaging to the perception of your brand.
As the restaurateur behind Castellucci Hospitality Group — which operates Sugo, The Iberian Pig, Cooks & Soldiers, and Double Zero Napoletana in Georgia — Federico Castellucci relies on regular meetings with his staff to build business and make progress. Here, he walks us through a typical agenda and explains how he stays on top of operations.
Now that it’s January, take advantage of a little down time and get organized! Charles Bililies is the founder and owner of Souvla, a Greek sandwich shop in San Francisco. Because he’s operating in a small space, Charles has made it a priority to stay organized, from tracking inventory to labeling items in his storeroom. Here are his top tips to set yourself up for success in 2015.
Start off 2015 with inspiration and wisdom from others that can invigorate your own business — we’re featuring a new expert tip every day this month. We asked Will Guidara, the restaurateur behind New York’s Eleven Madison Park and The NoMad, what’s on his recommended reading list. Find his top picks here!