Sunday, May 3, 2009

Restaurant Profits: Don't Make This Buying Mistake!

In my business I meet all kinds of restaurant owners. It's very easy to identify the ones that are struggling and not making much of any kind of profit. In particular, the restaurant owner who creates this false sense of financial success by getting in a car and driving down to the local cash n carry outlet to buy their goods. They think saving a few bucks every week is going to put a big chunk of money in their pocket. I always like to challenge them with the following question.......

Show me a person who can make a $100,000 a year doing an $8/hour job?

The answer to that question is none!......It cannot be done!

So why are you doing a menial job like going to the cash n carry to try and save a few bucks?
Your time and money are 100 times more valuable by working on true activities that drive more customers to your restaurant. When you are barely making a living in your restaurant....you cannot SAVE yourself into profitability. Start by changing your mindset and understanding you are too valuable to be running around the town looking to save a few pennies. There is not a national chain restaurant that thinks like this and they enjoy better profits than the independent restaurant. PT Barnum said it very well, "a funny thing happens when you don't promote.....nothing".

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