Growing your restaurant business is never easy. Even before the pandemic, nearly 60 percent of new restaurants failed in their first year.
And nearly 80 percent are forced to close before their 5th anniversary .
Increases with wages, food costs and high rents, mean tighter profit margins for restaurants or even worse, a Negative Cash Flow.
This is when your business has more outgoing money than money coming in.
Not even a Sizzler can survive a prolonged negative cashflow.
So if you are always trying to pay last month’s bills with next month’s sales, then you could become then you could be another statistic.
The solution could be just changing your business model.
Most restaurants use the Transactional Business Model.
A customer comes into your restaurant and orders a meal.
They receive their food and drinks, and they pay the bill and walk out of the restaurant.
Now you are ‘Hop Marketing’ that your customer will come back again one day.
The Recurring Business Model, builds your database to bring back your customers on demand.
New customers cost 5 times more than bringing back your existing customers.
When you consistently attract new customers and bring back existing customers with predictability, then you will have exponential growth.
You need two things;
1. Consistently Attract New Customers
2. Predictably Bring Back Existing Customers
And if you can do One and Two, you will experience exponential growth for your business.
That is a positive cash flow on steroids!
The Blueprint for exponential growth is using Social Media.
It’s not about getting “LIKES” – you can’t pay your bills with “LIKES”.
This is the Restaurant Customers Journey that we mapped out. And we use Social media to move your ideal customers for each stage.
This is your blueprint for exponential growth.
If you want to avoid being a negative statistic,
Then get your free Social Media Marketing Guide For Restaurants 2021by clicking below;