According to a report from the National Restaurant Association, more than 50 percent of famous restaurants were founded by women. Therefore, bida arguably the current woman dominating the restaurant industry.
As a restaurant business owner, women have their own advantages and disadvantages when compared to men. Starting from the ease to get funding to the ability to connect with employees.
The restaurant or culinary industry has a high degree of difficulty. The reason, the industry is closely related to the sense that everyone has different depth levels. The National Restaurant Association therefore states that this industry is an industry with a high failure rate.
Here are tips for women to succeed in the restaurant business:
1. Making sure the restaurant business is the right choice
The first thing women should think about in building a restaurant business is to make sure they really want to open a business that has a high rate of failure.
As an owner, you should be able to solve problems that will surely come up every day. That means you must make sure you can and are ready to face the challenge of becoming a women entrepreneur in this high-pressure business.
2. Have skills
Many people want to start their own restaurant because they love to cook and or they like to entertain. Owning a restaurant is indeed the right way to channel that fondness. Unfortunately, to open a restaurant business can not just by having the ability to cook it, should be more than that.
The ability or skills to manage finances should also be owned. The bookkeeping of the restaurant is very complicated. There are many rules of rules to follow, taxes to be paid, required insurance premiums, and more.
Therefore, every woman who wants to open a restaurant should have a basic understanding of cash flow, income and other statements. A financial tool that will help them make good business decisions.
If you do not already have these skills, there are many online courses or educational community classes that can help prepare you to become a business owner.
3. Know how to handle conflict
Women in leadership roles have different advantages over men. They are often more empathetic and caring with employees, building a family-like atmosphere. This is fine, until a difficult decision is made like cutting a position or removing someone who has a poor performance record.
Women are conditioned by society to be gentle and nurturing and when they use force, they are labeled as boss or unreasonable or worse.
Female restaurant owners need to find a balance between their natural empathy towards others and do what is best for their business.
4. Have a clear business plan
Since there are many financial programs available specifically for women entrepreneurs, it is important to have a solid business plan when you go to a bank or small business finance company. This includes start-up costs, annual budgets and projected sales.
Creating a business plan can take a long time. The end result will help give a clear picture of how to make your restaurant a success. To be honest, if you do not want to take the time to write a plan for a new restaurant, you might find it hard to build a restaurant.
In the process of writing your business plan, you can identify possible risks, such as local competition with similar menus and prices. Knowing the information at the planning stage allows you to adjust the required concepts.
5. Can manage the workforce
Women can be very multitasking, but not always so great when delegating. In a busy restaurant, you can not expect to do it all by yourself. But that’s what often happens with owners (both male and female) especially in the early months of opening new restaurants.
You may not feel the need to spend money for extra labor or outside services, but if done right, this will save you more money in the long run.
6. Use technology
As outsourced, the technology can save the female restaurant owner a lot of money and time. For example, using a POS system or iPad POS System makes tracking sales easy while at the same time acting as a credit card processor. This system also makes transactions with credit cards safer for your customers and your business.
This system helps reduce theft that can be done by employees. You can also track menu materials and inventory through POS systems, helping to reduce waste and save on food costs.
7. Have network support
Finally, another area that female restaurant owners can use is to build a support network for themselves. This can be through family and friends or through small business associations or women’s business associations.
Women business owners continue to grow throughout the country. Female restaurant owners now dominate half the restaurant market. As women continue to take on more leadership roles, it is important to know how to harness the natural talents and cultivate the new ones.