When Life Hands You Lemons...

...You make lemonade.

According to a survey by RBC Capital Markets, 43% of people say they're eating out less now than 6 months ago, 59% plan further cutbacks. Since there are more restaurants today per capita (664 for every person in the U.S. vs. 1029 in the '70's), there is clearly more choice for a more discerning customer base.

With so many restaurant choices, there's bound to be a shake-out. Some neighborhood eateries will be gone this time next year, and their customers will need a place to eat.

There's opportunity to gain market share in this type of economy, but you need to be positioned to receive it.

So how do people choose where to go? What are their new criteria? The answer is the same as it's always been: They go where they are comfortable. They know it's a good value for their dollar and they will be satisfied with the meal. If they aren't, they are familiar enough with the management that they know it will be made right.

It starts with keeping your customers happy and giving them value. Love me, love my product - the old salesman's saying is truer than ever. But it goes beyond being the Mayor and into everything else within your four walls. You not only need to keep all of your existing customers coming in more often, you also need to be prepared to make a great first (and second) impression.

There are two ways you can make lemonade out of the lemons that are this economy:

1) Increase the frequency of visit among your current customers
2) Gain market share from the other places that are struggling

Customer service, walking the tables, being a good host, providing a great overall experience will help you to give that great first impression. Utilizing the tenets of the 7 Core Competencies to modify existing customers' behavior, to visit more often and spend more money, helps you not only keep the new customers but also increase your share of wallet.

Don't just "hunker down" and weather this storm, be aggressive and turn it to your advantage. Contact us today to learn how to turn lemons into lemonade.