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Best Restaurants Look for New Opportunities

In this difficult economy, it's more important than ever that restaurants and food service establishments learn to adjust and grow with the changing times. From renovating to redesigning, there are a wide variety of ways that managers and owners can continue to grow their food service business.

One way the best restaurants can continue to expand their business during these difficult economical challenges is to expand their catering opportunities. Restaurants can continue to add to their customer core by offering additional options for meal delivery. On-site catering can be a lucrative addition to any successful restaurant operation. Offering meeting rooms and private dining can also continue to build your client base.

Another idea to expand business includes developing and producing a signature line. Many restaurants have successfully expanded into everything from baking mixes to condiments to signature dressings. By promoting special lines within your restaurant, and offering customers the opportunity to bring a piece of your menu home with them, you can build a dedicated client base. Expansion for signature lines can also include local, regional, and national distribution within other venues, including supermarkets and other food service establishments.

Special events are a great way to increase your customer base. From wine tasting to cooking classes, welcoming your clients into your restaurant for special events can increase the personal relationship between you and your customers. Loyal customers will often recommend friends and corporate partners for increased business development.

Does your restaurant offer easily accessible take out options? Many corporate clients often turn to their favorite restaurants to satiate their business dining needs. Off-site catering and take out opportunities can help to bring your food to a new set of clientele. Many corporate customers have weekly or monthly meetings that can develop into long-term food service contracts.

Many restaurants will find continued growth by expanding food distribution through vending opportunities. Food carts are a great way to grow your customer following by offering smaller, easy-to-travel bites from your menu. Many large corporations, hospitals, and universities welcome on-site food vendors. Lunchtime crowds can oftentimes expand into a strong dinner following, growing your restaurant business exponentially.

Have you considered franchising? Additional locations, whether local or out-of-town, can expand your restaurant demographic across the board. Featuring local food items within each location can easily make your regional spots stand out from others.

President Obama's recent economic stimulus bill helped to develop additional funds for small business owners across the country. Utilizing loans from the Small Business Administration can help to fund your restaurant expansion, whether it’s catering, take out, or a signature line, for continued growth in 2009.

Written by: Jennifer Heigl
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