Posts Tagged ‘bankruptcy’

Why Restaurants Need Restaurant Management Groups

January 8, 2013

Achieving success in the food service industry doesn’t happen overnight, and it can be especially challenging into today’s economic environment. Many restaurant owners are struggling to make ends meet and even those managing well enough on their own can occasionally benefit from assistance. That’s where restaurant management groups come in – to provide whatever kind of assistance is needed to help you achieve success in the restaurant industry.

Restaurant Assessment and Consulting Services

Every aspect of your business affects the bottom line, and there are always ways to improve your operation so that it is more efficient and successful.  Areas where you can receive consultation assistance and advice include everything from changes to your décor or your menu to advice about your operations, profitability, and risk management.

You can get assistance creating marketing strategies, doing market research or positioning your brand, receive extensive assessments targeting operational areas in need of improvement, or even develop strategies that lower employee turnover by making your business a better, safer place to work.

If you’re considering franchising your restaurant or simply expanding to new locations, restaurant management groups can help you with your development and implementation strategy there as well, further rounding out the extensive list of positives to working with a restaurant management group. No matter which facet of your business you’d like to address, restaurant management groups can provide you with the expert assessment and consultation services that you need.

Assistance and Advisement for Matters of the Bank and Court

The kind of assistance you can receive from restaurant management groups isn’t limited to operational assessment and consultation. In fact, it’s dealing with troubling financial or legal matters that end up bringing businesses to a management group’s door more than anything. This is the case for good reason. A restaurant management group can provide you with such services as court appointed receivers, bankruptcy advisors, examiners and trustees, borrower analytics, and due diligence lender and acquisition services as well.

Turnaround Management Specifically Designed for the Restaurant Industry

Many business owners and executives don’t seek assistance until the situation is dire, and it’s at this point that the business needs more than consultation and advice – it needs full scale turnaround management.  The most effective way to do this is to take a comprehensive, bottom-up approach, strategically identifying and eliminating the factors that are inhibiting your business’s success. This type of comprehensive turnaround management is perhaps one of the most important services a restaurant management group can offer.

Furthermore, there are many turnaround management companies out there, but few who specialize exclusively in food service operations. Because the factors that affect the food service industry are unique, it’s of utmost importance to be working with management teams who specialize in all areas of food service operation.

Whether you’re a restaurant owner who just needs a little advice or a financial executive worried about a distressing restaurant obligation, restaurant management groups are the expertise you want to source. You’d be surprised how effective implementing just the right changes to your operations can be!