Restaurant management companies provide a wide range of services to restaurant owners. They may be hired to choose a site and develop a restaurant's concept and menu. Some restaurant management companies also develop operational handbooks and employee training programs. If you're opening a restaurant, or need help managing a business that's up and running, learning some key terms can help you navigate which types of services a restaurant management company offers.
Concept development happens in the beginning, when developers decide on a theme and price point for their business. Based on these decisions, they'll develop a marketing strategy, design a menu, and plan the decor, employee uniforms, music, and other aspects that'll make up the identity of your restaurant.
Operational audits and analysis
When management companies are called in to improve a restaurant that's already running, they need to get a handle on how things stand before they can recommend improvements. Operational audits provide managers and consultants with a picture of a restaurant's overall efficiency.
Cost control techniques
Controlling food and beverage costs is a key issue in the restaurant industry. Most cost control techniques focus on minimizing waste through a combination of smart purchasing and menu planning.
Operation manuals and employee training
Some restaurant management companies develop operation procedures, write manuals, then ensure that employees are trained and adhering to rules and regulations.
Marketing programs or solutions
To turn a profit, a restaurant needs to build and maintain a solid customer base. Some restaurant management companies specialize in marketing programs targeting the segment of the population most likely to appreciate the food and concept of your restaurant.
Restaurant management companies hired to develop a concept may also be involved in selecting the restaurant's location, or site. A good site has a rent or mortgage that the owner/operator thinks she can afford, and gets good traffic flow, among other factors.