Auction Masters – The 2 Part Series That Will Help You Find Business Solutions
If you missed part one – Resources For Restaurant Owners
Part 2 – 3 Proactive Solutions & Virtual Consultations
In Part 1 of this series, you learned about the different government resources available to restaurant owners during the COVID-19 crisis. You could likely benefit from several of these resources if you have the time available to explore them. Meanwhile, what other actions could you be taking right now to help your business? Are you exploring different tactics and business strategies?
In Part 2 of this series, we’ll provide you with 3 proactive solutions to help your restaurant get through the “now” of COVID-19. We’ll also inform you on how to set up a virtual consultation with Auction Masters, in case you’ve discovered that an exit strategy is your best course of action.
There are numerous ways you can be proactively working to help your business situation right now. We’ve put together three actions you can work on right now to sustain your business, despite the external influences of this pandemic. These three things have nothing to do with the fact that you should be wiping down your work spaces, kitchen utensils, and door handles. They’re not going to address whether you should lay off employees, or set up delivery and curbside services.
Instead, these four actions present ideas that you, as the business owner, could focus on to come out of this crisis better than you were before.
- Improve client relationships
We talked a bit about this action in an article we released last month. As a restaurant owner, you’ve likely booked a long list of parties and business events in your place over the years. You can’t meet with the people who booked those events in person, but you can pick up the phone and call those clients.
Ask how they’re doing. See if there is any way you can help. Could you work out a lunch delivery program for their local employees? How about showing their appreciation for employees with gift cards to your eatery? You’d be amazed at how much impact a simple phone call can have. Also, if the person on the other side of the line is like you, they are likely looking towards the future. They’re thinking about planning events this summer and fall. A phone call will put your restaurant at top of mind and show your clients that you are thinking about them.
- Build-out your systems and processes
People aren’t coming to your restaurant, because there are national mandates against it. The demand for dining out isn’t disappearing, it’s getting delayed. The floodgates are going to open, and there’s no reason why your business can’t grow exponentially by this time next year.
Maybe you’ve been meaning to work on your fulfillment process from the time an order is placed to the time it’s set on the table. Maybe you had an idea to work on your branding. Or, you may have planned to create a communication system for your waiters and waitresses when interacting with customers and your chef’s team.
These important pieces of your business may have been placed on the back burner because they weren’t considered urgent functions that kept your doors open during regular times. But your doors are closed and these are not regular times. This is the perfect opportunity to work on your systems and processes.
- Create events
Most restaurants have created a curbside and delivery system by now. Your restaurant undoubtedly has one. A great way to take curbside and delivery one step further? Create events like, “Movie Night”, “Family Night”, or “Picnic on the Porch”. Get creative. Connect with your client base.
Remember, people are still eating. Heck, they’re still “eating out”. Albeit, with different seating arrangements! People are on their phones right now looking for “delivery tonight” of some kind. And people still want to have a great experience while eating.
This is an opportune time to stand out in people’s minds and connect with them on a deeper level. Show them why you started a restaurant in the first place. Let them know that you understand what they’re going through and you’re here to provide them with the comfort of professional, excellently prepared food. You can click here to read our article on how to message your clients and digitally promote your restaurant during COVID-19.
We’ve given you 3 great actions that you could take immediately to help your business. But, there are countless ways to reach your patrons and stand out from other restaurants in your niche and geographical area. Think creatively. Take a step back and remember your “why”. Then, tell your clients and community about it.
The Exit Strategy & Virtual Consultations
If you’ve read this series and explored the resources contained within it, give yourself a huge pat on the back for taking your business seriously. Consider yourself virtually high-fived by the Auction Masters team! Our goal is to give you all of the resources that we can find, hoping to spark an idea or action that could turn the tide in your favor.
Taking a proactive stance right now will make the difference for many restaurant owners across the country. But, we must remember that proactivity isn’t a uniform or universal picture. For some, it means creating strategy around keeping the doors open.
For others, it means strategizing for the most valuable exit possible. There will be a flood of opportunities available after the Coronavirus pandemic has ended. This crisis may have given you the perfect idea for a new business venture. Or, you may not be sure what pursuit you want to make. You only know that you can’t be bogged down by the problems of your present business. You need to free up the creative space in your mind and you can’t do that in the current situation.
For any restaurant owner looking to create an exit strategy, Auction Masters is offering virtual consultations. Our plan is to give you a solid idea of what you can expect if you decide to liquidate your restaurant equipment. We’ve currently paused our auctions, giving us time to clear our calendars, open up evening and weekend hours, and take virtual tours through your business. We’ll gain a great picture of the value you can propose to potential buyers.
The process is simple. We set up a call and let you walk us through your facility, using the video capabilities on your smartphone to show us your equipment. We’ll then help you create a strategic overview of your best approach to creating a valuable return. The virtual consultation is an excellent tool for finding monetary opportunities that you may not have realized were available.
After the virtual consultation, you’ll have a better understanding of how to approach the future and where your business’s blind spots may be hiding. You are best equipped to face an uncertain situation with a preliminary plan and an educated understanding of your current assets. Auction Masters is here to help you in any way we can. If you have questions, or would like to set up a consultation,, feel free to give us a call at 763-428-2271 anytime.