The hard truth. In today’s economy, one can never be too careful with money. Across the country people everywhere are striving to make things work, open a restaurant, and stay in business. In the food service industry, it’s always tough. According to a study done by Ohio State University, 60% of restaurants do not make it past the first year, and 80% don’t make it past five years. Those are some big numbers. Why so big? Well, according to Robert Irvine, host of the popular TV show “Restaurant:Impossible” as stated in Business Insider, it has to do with five things: inexperience, bad people management, lack of accounting skills, spotty customer service, and sub-par food quality and execution. So, what can you do about this besides make over your entire restaurant? Simple, be a smart shopper and work out those accounting skills!
How to save $. Most restaurant supply stores, whether online or in store, offer some sort of clearance section. You don’t have to be an expert accountant to know this will save you big time. For those restaurants that are just starting out, outfit your restaurant with furniture, equipment, and supplies that have been marked down. Most items in clearance sections are discounted due to overstocking or minor cosmetic damages (such as scratches, ding, or dents). These items have usually not been used and many still retain a manufacturer’s warranty! Don’t mismanage your money; keep it within budget (or under) and be a smart shopper.
It’s not a total solution by any means, but in terms of saving money, buying clearance can do wonders for a budget.
Check out Gator Chef’s clearance / scratch n’ dent section to see what items we have to offer at discounted prices!
See the article from Business Insider with Robert Irvine here.