Navigating the business of hospitality in 2020 led to innovative and creative new business practices as the industry swung into COVID-19 survival mode. Embracing new technology and actions plans will have your business ready as we kick off a brand new year. Here are 4 top hospitality survival tips to start 2021.
Six Essential Tips for Restaurant Takeaways
The word ‘pivot’ took on new meaning for hospitality businesses as restaurateurs switched from dining destinations, to delivery providers of great food to locked down and cautious customers. Smooth delivery service is essential to ongoing success and customer retention.
Lease is More
Commercial leasing became a hot topic in 2020 as proprietors exercised a wide range of responses to their tenants’ varied predicaments when it came to managing the problem of vastly reduced incomes and rent relief. Commercial solicitor Claire Vordermann provided a practical approach to renegotiating your commercial lease which is just as relevant, if not more so now as we enter 2021.
Liquidating Liquid Assets
Selling cellared wine stock became a renewed method of releasing much needed cash flow in 2020 – and remains a timely reminder to review stock control systems and practices going forward in 2021. Many restaurants reviewed their wine lists to reduce inventory to their most popular sales.
Adapting to Online Technology
Leading entrepreneurs from Upstock launched an app to reduce ordering errors, minimise waste and streamline business procedures. RIP Global introduced contactless receipts at a time where contactless payments are at an all time high and health and safety is paramount. Both are new concepts that have helped hospitality businesses embrace new technology and evolve.