​4 Good Habits Every Restaurant Owner Should Have

From personal skills to assessing your needs, from managing your capital to analyzing the market – a restaurant owner has a lot on their plate! Forming good habits from the outset will go a long way in keeping your business running smoothly. Here are a few good tips every restaurant owner should have in their pocket.

Prioritization skills are crucial from your restaurant’s inception to its moment-to-moment events.

When setting up, really think about your restaurant’s customer volume and your resulting food output and your dishwashing rate. What will be your signature item, and will you devote special cooking equipment to it? Is it important enough to have a custom machine built? What items need to be heavy duty and take up space, and which can be regulated to countertop? These will be based on your restaurant’s needs.

These skills are even more important in the day-to-day of the business. Important tasks, like balancing budget or inventory, should come secondary to urgent tasks, like a displeased customer or any other emergency that deserves immediate attention. Distinguishing between the two will usually be common sense, but some of this knowledge will only come with experience!

Your working capital is your assets minus your expenses. Knowing your working capital can help you make decisions in allocating finances to growth.

Look at your finances regularly, spreadsheet your fixed expenses and variable expenses and subtract them from your assets. Delegate a percentage that you want to spend on growing your business, and decide how you want to grow the business. It could be through creating a loyalty program, experimenting with menu items and prices, hosting events, or any other creative endeavor you can think of!

And with leasing, you can save enough money to allocate a larger amount of your capital to your growth – find out how with this Section 179 write-up.

The talent in your restaurant will be the heart and soul of your business. You want high achievers who will be proud of their work, and you’ll need to recognize and appreciate them for their accomplishments. You’ll also want to listen to their needs and suggestions; a chef might have input on the kind of range, oven, cabinet, or any kind of cooking equipment you might need.

Staff will be happy to work for you and want the business to grow if you treat them well. Spend more time cultivating and supporting your current talent, and you’ll spend less time (and money) rehiring for the same position.

Take a look at other restaurants in your area, especially direct competitors. Study their social media and websites. Use what you know about them to pull different strategies and stand out. If it fits your business model, adapt some features of successful restaurants in your local market. But keep your brand unique – there’s only one you, and only you can provide your distinctive restaurant experience.

Good luck out there! As you start this journey, know that Leasetaurant has your back. We’ll give you the quality equipment and expert-backed tips you need to make your restaurant dreams come true.