How To Strategically Plan Your Restaurant Renovation | Modern restaurant management


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Renovating a restaurant is an important step, but it helps create a more positive and engaging environment. It’s important to recognize, however, that you shouldn’t attempt a remodel without sufficient planning. As with many other areas of your business, your updates can greatly benefit from applying a small strategy to the process. This can help you stay on time and on budget while causing as little disruption as possible.

We’re going to go over some of the key elements of a viable renovation strategy for your restaurant.

Know the right time

Timing is of the essence in most areas of business. It’s no different when it comes to restaurant renovations. If you get the wrong timing, you risk losing customers, disrupting a positive dining experience, and not getting your investment back. As such, your first consideration should be to plan your schedule well.

Sign up for a little research here. You might have an idea of ​​what is in the right time, but data can help. Check when your busiest times are. Look at this on many levels – the times of the day, the week, and the year. Many restaurants are experiencing a period of seasonal downturn depending on their location. The last thing you want is to start a major renovation at times when you are most likely to have a lot of customers. Do not rely on your previous experiences either. See what big local events are brewing. These can lead to additional patrons who could represent a significant portion of your income. Work with your contractors to create a schedule that takes these elements into account.

If you have constantly busy periods, you may need to complete your renovation in stages. It can also be a smart approach if you can’t stretch your finances to support a full renovation in one go. It’s best to work with your home improvement contractor to create a viable strategy for this. They will have ideas on the best way to divide and plan the components of the complete renovation according to your scheduling needs. Between major changes, it can be useful to implement some front-end upgrades using minimal capital and manpower.

Organize your finances

Renovations can get expensive. Yes, there are definitely marketing benefits to changing the look of your restaurant to make it more Instagrammable. Your back-of-house gear may well have been upgraded a long time ago. But that doesn’t mean it’s wise to jump in and start spending your capital. You need to strategize on how your finances can work to support your renovation.

It can be difficult if you don’t have a background in finance. Even serial entrepreneurs can fall into the trap of expanding too quickly without expert scrutiny of how to recoup their expenses. As such, it’s worth working with a professional on this project. A CFO is often your best goal here. They will have skills similar to those of your accountant. But the role of a CFO is more focused on using account data to influence the direction of a business. They will understand your income history, gather industry information, and plan meticulously with your goals in mind. Your relationship here can help you create a strategy to fund the elements of your renovation while keeping your restaurant running and thriving.

As you are developing a financial strategy, it is wise to think about how you can get the items for your renovation without breaking the bank. That doesn’t mean you have to cut corners by bringing in the cheapest contractors. Instead, it’s about taking the time to shop. There will be items that your contractor can procure for you at commercial prices. But there will also be times when kitchen supply chains and restaurant wholesalers have discounts or sales. Consider visiting auctions for some of your storefront items like tables and decorative items.

Prepare for hiccups

A remodel can be an exciting prospect. But you also need to be aware of the potential for things to go wrong. This is not to be pessimistic about your project. Rather, it is about being realistic in order to better manage the problems.

You should start with a thorough risk assessment. Review your renovation plans and identify the types of issues that may arise. It can be especially important if you are doing structural work to involve a professional appraiser. There might be underlying aspects of your restaurant building that prove to be unsafe while on the job. If you are operating from an older building, be sure to check for toxic items like asbestos. It is essential that you determine if there is a presence of this and other environmental hazards in your building so that you can mitigate the potential for damage.

Beyond your risk assessment, it’s worth getting your restaurant team together to create a plan to respond to the issues. This allows you to benefit from the knowledge of professionals in various areas of your business. Encourage them to contribute ideas on how the renovation could be disruptive or cause injury. You can then work together to produce procedures if any of these issues occur.

The renovation of your restaurant can be decisive in the positive trajectory of your business. But it is important to approach the project strategically to get the most out of it. Establish a careful schedule that best suits your business, and work with professionals to maintain your financial well-being. Most importantly, assess and prepare for any potential disaster along the way. With a little forethought and strategy, you can set your business up to truly thrive.

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About Imogene T. Bishop

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