New Competitors on the Post-Pandemic Horizon?

6 Steps to Keeping Your Restaurant Ahead

Consider: 

• 2021 expected to be the best year for franchise sales in at least a decade 

• 6,600 new restaurant and food businesses opened in May 2021, a 42% increase from May 2020

• 3.8 % projected growth of U.S. fast-food restaurants in 2021 

• 12 small to mid-size restaurant chains anticipate major new growth in 2021 and beyond, and they are not the only ones. 

These new competitors are in addition to all the existing restaurants reopening that are looking to capture market share with renewed vigor. How can a restaurant thrive in this fiercely competitive environment? Below are six suggestions.

1. Be creative. People have been cooped up eating their own cooking for over a year. They crave “new and different,” unique tastes, ingredients, and cooking methods. They are also looking to catch up with new and emerging trends, such as branzino, one of the hottest fish to hit the menu in recent years.

2. Promote sustainability. Increasingly, diners, especially in the up-and-coming generations, want to know that restaurants are operating as sustainably as possible. This includes the foods they eat. Serve farm-raised seafood, such as branzino and shrimp or wild-caught calamari, with locally grown vegetable side dishes, and you can’t go wrong. Then promote your sustainable ways on your website, menu, table tents, and any other means possible. 

3. Make it fun. After the pandemic, people also crave fun. They want to get together with friends and family and enjoy themselves. So provide food that compliments fun get-togethers. Feature daily specials, such as margarita Mondays with shareable shrimp and calamari appetizers, fish taco Tuesdays, seafood Saturdays. You get the idea. And again, promote them every chance you get. Soon, you’ll have regulars looking forward to coming for their favorite fun special of the week.

4. Consider value-added. While working to attract customers, you also need to watch costs. Quality, frozen value-added options, such as crispy wrapped shrimp, seafood medleys, or lightly dusted calamari, are good choices and can significantly save time and labor costs. They offer variety and menu versatility without the cost of additional ingredients or extensive training.

5. Favor fast. Quality frozen seafood such as lightly dusted, gluten-free calamari and crispy wrapped shrimp that can go from freezer to finished in 75 to 90 seconds is another appealing cost saver. It allows chefs to quickly “whip up” interesting dishes fast without wasting unused fresh food. It also reduces the need for experienced chefs and extensive training amidst the current labor shortages.

6. Think community. Increasingly, people want to support companies that care, including restaurants. Get involved in your community. Offer to host meetings and other events. You can offer discounts if food and drink are desired. This is a fast way to support your neighborhood(s) while getting your name out there in a positive light. You will be pleasantly surprised at how many will remember your kindness—and location—when it comes time to choosing an eatery in the future. 

New restaurants will pop up. They always have, and they always will. All that matters is that you are prepared to take on the competition.