In any industry, to be ahead of the game and survive you need to be ready for change. The Japanese have a word for this. Its called “Kaizen”. “Kaizen” is the practice of continuous improvement. Everything evolves and change along the way. Cars get better, more comfortable, fuel efficient and faster. People nowadays are not only looking at cars as a form of transportation. Their cars have to be beautiful, equiped with the lastest technology and so on. The restaurant industry is also effected by changes in trends. Look at McDonalds, they were growing so fast. People liked the idea of speedy and casual food. But they were slow to see that people were gradually moving away from quick service restaurant. Consumers wanted something different in terms of food and services. Nowadays people look for restaurants with free wifi. Even our restaurants had to change. People were not coming for our buffets as much as before. So what we did was create a Food Bazaar and it got a better revenue on days when we did our buffet. And we also was able to control the cost and wastages. As everything was made to order, the raw ingredients could be kept for later use. So how do you keep up with change? Here is a great article from the net. Below is an excerpt from the article. If you want to know more, click on the link below.
1. Adapt to new consumer expectations
Diners are increasingly gravitating toward restaurants that offer quality choices in a social atmosphere without the fuss of fine dining. This is the “sweet spot” where fast casual thrives, and is a large contributor to why that segment to continues to gain market share.
To compare, the quick service restaurant segment still has the largest customer base, but its growth has been stagnant in recent years. To remain relevant, QSRs have turned their focus to improving the quality of the entire dine-in experience.
Many establishments are adding fresher, more customizable menu options, and are focusing on creating a more inviting, less hurried dining atmosphere.
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