Remodel Your Model

As the country slowly walks in the direction of normalcy, now is as good a time as any to review the books to be sure that upon a full-re-open, your establishment is as functional and profitable as possible today…and tomorrow.  Whats makes now different?  As an owner/operator, one of your greatest assets (and shortages) is time. With hundreds of tasks to complete each day, there is rarely a time to look into the books and see exactly what is working as it should and what may need some tuning up.  Are our gross profits where they were projected to be before the pandemic?  If not why not?  How can it be improved?  A big part that rules all of this is increasing margins.  Most entertainment establishments have some catching up to do so it is essential to make the most out of every square foot of space in the most profitable way possible.

There are many ways of doing this:

  • Review the menu and beverage offerings, minding the margins
  • Review delivery sources and costs
  • Review historical  patron attendance, predict future attendance
  • Review projected waste vs actual waste
  • Create a simple menu that minimizes waste
  • Utilize unused space within your establishment
  • Augment existing services to drive differentiation and ultimately revenue
  • Streamline  streamline  streamline
  • Refine refine refine
There are many unknowns in the coming weeks, months, and years.  There are no knowns for any business but there is an opportunity to be positioned in the best way possible from what we do know, re-examine, and proceed with agility as we move along.  Cheers!