It would be an absolute sin to me to see many of my favorite dining spots lose their "chic-ness" because of the current economic climate. One of the fantastic transformations that occurred in smaller cities since 2002 has been the increase in fusion style dining emphasized by chic and swanky dining environments.
Long gone were the days of rusty Italian restaurants where the only menu changes in the past twenty years are stickers with price increases pasted over the old prices. Long gone were the musty smelling dining dungeons ran by a guy smoking cigarettes, sipping a whiskey and water and playing the mega-touch at the end of the bar while his customer eyed up the dining room looking for their server.
Well in 2008 these restaurants still existed but in much less demand. It is an absolute fact that diners are more educated in food and wine while demanding a higher quality of service then ever before. Consumers that are dining out today still want to feel good about where they are socializing. They still crave dining adventures. They still would prefer a glass of Riesling over the White Zin they gave up back in the 199o's.
My point being, the average consumer did not get a sudden bout of "dining amnesia" when the credit crunch occurred. They didn't stop liking your establishment's amazing food and service in the swanky atmosphere you provide. Then why are your revenues sinking instead of growing? Why have your average covers sank from $40 to $32 dollars? Why do you have empty seats for the first time since you are open? Why are your customers no longer ordering bottles of wine?
The answer is: consumers are either afraid to spend, not willing to spend or unable to spend!
Do these facts mean you need to close the doors, remodel and transform your menus back to the days of Chicken Parmesan and Spaghetti and Meatballs? HECK NO!
Lets face it, your loyal customers were great to you over the years. Now it is time to show them that you can accommodate them during the current hard times the economy has put upon them. Wow, thats a great marketing thought!
So, we know consumers still want what they were so accustomed to receiving from your establishment over the years. Show them that you can still provide it at an affordable cost.
Add a large bar menu, remove the NY Strip from your menu and add a hanger steak at half the cost. Even Flat Iron Steaks have now been introduced to upscale dining. Add a 20 under $20 wine list, that would be 20 bottles of wine for under $20 (I will soon be posting a blog of my favorite quality wines that YOU can buy for under $10). Add a high quality Burger to your menu for $9. Add some chicken dishes that are very creative and within your concept but sold for under $20.
The above changes to your menu does not change your concept at all. Your culinary team must still put their stamp on each item. The only changes are that your customers are not afraid to buy them, in most cases they will not require the same amount of chefs to prepare them (lowering your labor cost) and, most importantly, they are HIGHER PROFIT ITEMS!
Just because your gross dollars have reduced and your average cover may be down $10 DOES NOT MEAN that you are not turning profits! As I said in my previous post "Tips for Surviving in the Inconsistent Restaurant Business", Make your numbers work within your gross volume.
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