Braving past a great many challenges in the last two years, the restaurant industry is faced with yet another set – staffing shortages, soaring prices, and continued supply chain disruptions. In such a situation, it is only natural to wonder whether the F&B business can remain profitable through and through? In the opinion of Dubai-based restaurateur Sanjeev Nanda, the restaurant industry is more than capable of driving profits in a perfect storm; all it takes is some farsighted planning.
Adopting a three-pronged strategy
Sanjeev Nanda is a prominent name in the global hospitality market and has been successfully conceptualizing and running various restaurants around the world. Innovative diners such as the Billionaire Mansion and Miss Tess (both in Dubai) are some examples of Nanda’s expertise in driving change in the industry through ‘out of the box’ thinking, unique conceptualization and highly efficient service. During the pandemic crisis, not only his restaurants have stayed afloat, but have in fact gained more popularity than ever. So, what’s the secret to keeping your business unperturbed by the market challenges? Sanjeev Nanda suggests a three-pronged strategy for the same. According to the Miss Tess owner, maximizing the existing resources, investing in the latest tech, and constantly helping your employees upgrade their skillset usually does the trick. “Without keeping up with the changing times, it is hard for any business to thrive irrespective of the sector they belong to,” he says.
Hopping on the sustainability bandwagon Sustainability
is more than just the latest industry buzzword – it is a commitment that businesses make to future generations, to leave them with a planet that is liveable and has ample resources to support their lives. What works as an added bonus for restaurants going green is the fact that customers attract almost instantly to the eateries which are showcasing their responsible behaviour towards the planet. According to Sanjeev Nanda, adopting sustainable practices needn’t come as a sudden change. “It is the small steps that combine together to cover larger distances. Adopting green initiatives is no different. You can start small by using eco-friendly packaging, getting locally sourced and organically cultivated ingredients, making your restaurant plastic neutral, if not entirely plasticfree.” These small initiatives can later be built upon to adopt practices that are sustainable not only from an environmental point of view but from the business point of view as well.
Keeping your workforce happy
Customer satisfaction is important for every business, but what often gets overlooked in the process is employee satisfaction. Keeping your employees happy and motivated to make wholehearted contributions at work is what keeps a business afloat even in the hardest of times.
When employees give their best, it automatically gets translated into better service, increased customer satisfaction, and rising revenues.