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How to gain an advantage over your competitors

The competition in the Restaurant business is getting fiercer and fiercer as there are more and more franchises and restaurants starting up. This has made it crucial for you to have an advantage over your competitors at all times as you will always face challenges from competitors as there are new restaurants starting up everywhere.

How to gain an advantage over your competitors

Pick the right location for you

The key to having an advantage over the competition is ensuring that you are in a location where you can showcase your strengths and selling points effectively. You should find a location which does not have any restaurants who sell the same food as you because it will allow you to use your products as a unique selling point. This will lead to your restaurant getting an increased number of customers because they will want to eat at your restaurant because they know that they will not be able to get the same products anywhere else. This will lead to your sales increasing and your profit margin increasing leading to your competitiveness rising. You should look at the local competition because you want to make sure that you are going to be successful as there’s no point picking a location that has a load of established restaurants there already. This is because no one will come to your restaurant as they will want to go to the ones they normally go to as they know their needs will be met. This will lead to you not being able to make any sales or profit and will mean that you will not be able to compete with the competition. You should make sure that your restaurant can be seen easily because customers will not be able to go into your restaurant if they cannot see it which means that you will not get the sales and profit that you require to compete with your rivals. You should try and get a premises on a high street because a lot of people will walk past your restaurant which may lead to them looking into the window and actually coming into the restaurant to eat which will lead to having a high number of customers leading to the sales increasing and the profit widening.

Identify the Strengths and Weaknesses of your competition

You should find out all of the strengths of the local competition because this will allow you to see the gaps in the market and will allow you to know what markets are best to avoid. This is because there is no point selling high quality and expensive products if there is a lot of fine dining restaurants located near you as there will be a lot of competition which will lead to it being difficult for you to get sales and profit leading to your competitiveness decreasing. Finding out the strengths of your competitors will allow you to set a focus for your restaurant. For example, if you have a lot of fast food places located near you, you should focus on having unique dishes such as Japanese food. This is because fast food places will all sell the same type of products so the public may want to try something different which will lead to them coming to your restaurant which will increase the sales and profit of your business leading to your competitiveness increasing. You should also look at the weaknesses of your competitors and focus on their weaknesses. This means that if the restaurants around you have slow service, you should focus on serving your customers quickly. This will lead to the customers coming to your restaurant instead because they know they will get their food quickly which will lead to the sales increasing leading to the profit margin widening. This will also increase the competitiveness of your restaurant as it will lead to there being more loyal customers leading to more repeat purchases.

Analyse new competitors

You should keep up to date with the news of new competitors in your area because this will have a massive effect on the amount of sales you will make and the amount of profit you will make. This means that it is very important for you to deal with challenges from new competitors and ensure that you do not let them take your customers. This means that if there is a new restaurant which is low cost, then you should focus on making your products a higher quality and focus on providing quality customer service. This will lead to the customers choosing your restaurant over the new ones because they know your products are better and that all their needs and wants will be met effectively leading to your sales increasing and the profit margin widening. This will lead to the competitiveness of your restaurant increasing.

Customer Service

One of the key methods of making your restaurant stand above the competitors is by providing excellent customer service to your customers. This is because it will lead to the customers being very happy with their experience at your restaurant which will lead to them becoming loyal and repeat purchasing as they know they will have all their needs and wants catered for. This will increase your competitiveness massively as it will lead to the customers choosing you over the competitors leading to your restaurant becoming very busy leading to the sales and profit margin widening.

Making sure your products are of a good quality at all times

You should make sure that the customers enjoy your products and that they are always at the same quality. This is because if the customers didn’t enjoy your products and they were of a low quality, it would lead to the customers losing their loyalty and will lead to them going to the competitors as they will not enjoy your food. This will lead to your sales and profit margin falling dramatically which will damage your competitiveness a lot and may lead to you not being able to compete with your competitors.

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