With the cost of living on the rise and wages stagnating, businesses in almost every single industry are trying to figure out how they can save more money to stay afloat.

This is especially true in the restaurant industry, as many people are choosing to forgo meals as a way to balance their own budgets.

The good news is that as a restaurant owner, there are lots of effective steps you can take to cut your costs without compromising on the service you provide to your diners or cutting your employees’ salaries.

Keep reading to find out more.

Top 3 Steps To Help Your Restaurant Cut Costs

1. Think about what you buy

It’s impossible to run a restaurant without spending any money. However, by making sensible decisions about what you buy, you can make small savings here and there that will result in a big difference over time.

Don’t worry, this doesn’t mean that you need to lower your standards and buy inferior-quality items! Instead, you can:

• Keep an eye out for sales, discount coupons, and bulk buy savings on everything from cutlery to aprons for women on your staff.
• Shop around before making any large purchases to be confident that you’re getting the best deal
• Find out whether you can save money by switching the way that you pay your bills and other ongoing costs (e.g., setting up a direct debit or paying on a credit card)

2. Adopt an eco-friendly approach

By making your restaurant more environmentally friendly you can help the planet at the same time as cutting your costs. Not only that, but it will also be good for your company’s reputation because climate change is an issue that many people are concerned about. Try these tactics:

• Switch to energy-efficient lightbulbs throughout your restaurant
• Reduce water use in the restrooms by installing toilets with eco flushes and motion sensor taps
• When you need to replace appliances such as air conditioners and dishwashers, choose eco-friendly models
• Only put the dishwasher on when it’s full to reduce both water and electricity use
• Use a digital menu that guests can access by scanning a QR code rather than having printed ones to save on paper

3. Embrace free marketing methods

Lots of restaurants spend a significant part of their budget on advertising, but there are many marketing methods available to you that are both effective and completely free. These include:

• Encouraging diners to leave a positive review for you online, or tell their friends and family about your restaurant – word of mouth is still one of the most effective forms of advertising.
• Harnessing the power of social media and posting delicious-looking photographs of your dishes on Instagram to entice diners through the door.
• Creating a professional website where you can clearly advertise your menu, along with your opening hours and any news or special offers – many people check online before deciding where to eat.
• Joining forces with other local businesses (from different industries) to promote one another for mutual benefit.
• Setting up a loyalty scheme to encourage repeat custom (e.g., get a free side dish or bottle of wine after spending a certain amount of money).

Additional:

• 3 Services To Use As A Restaurant Owner
• Should Your Restaurant Chairs Have Cushions?
• 7 Types Of Eco-Friendly Tableware For Restaurants
• Ways To Reduce Risks When Opening Your First Restaurant