2014 has kicked off with some “game-changer” trends that could shoot your restaurant ahead of the competition. Find out more about these trends and how you can put them in place at your establishments.
As we open 2014, QSR Magazine writes about eight trends that may affect your restaurant this year—many of which are rooted in rising consumer confidence. According to the article, these trends include:
Food costs stabilizing
Tea as a drink and an ingredient
Mobile technology is the new normal
Mainstreaming of healthier options
Flexibility of food and hours
Sour and tart tastes
These trends were compiled from various forecasts and amount to what the publication calls “disruptive” changes for 2014. What makes them disruptive?
Keeping up with dynamic consumer preferences and trends is no small feat for restaurant owners. Identifying new ingredients; offering new, often healthier, options; and keeping the menu fresh are critical to success but require an upfront investment of both time and cash. Many restaurant owners may feel relief in 2014, however, from rising commodity prices.
In addition to what’s on the menu, restaurant owners will also need to find new ways to attract and keep more customers. With mobile technology firmly entrenched in today’s marketplace, traditional advertising, coupons, and even payment processing will evolve, requiring additional investments of time and cash in order to stay relevant and profitable.
Uncovering the Cash Flow to Address 2014 Restaurant Trends
Traditional small business lending has been declining for several years, but some reports indicate that the market will improve in 2014. Even so, non-bank sources of financing are reaching all-time highs, meaning that more and more restaurant and small business owners are seeking nontraditional ways of managing cash flow.
For restaurants, a merchant capital advance may be an ideal way to address these trends that may affect your restaurant. For restaurants with an established base of credit card sales, owners will be able to borrow against those future sales in order to fund ingredient and menu expansion, social media outreach, or other programs that will help keep the restaurant fresh and attractive to consumers.