ICE and American Express Present: How to Sizzle and Not Fizzle

With this advice from ICE’s industry experts in American Express’s four-part Restaurant Success Series, learn how proper employee training and responding to customer feedback can help build a stable, profitable business. Plus, understand how to create a cost-effective menu that sells and discover how getting your manager out of the office and onto the sales floor can give you a leg up in this competitive industry.

For more tips on staying ahead of the curve, we consulted with ICE Culinary Management Instructor Vin McCann. Below, see his 7-step strategy for developing a marketable product and building customer loyalty:

1. Research: Learn about your market—for example, are there already restaurants like your concept (potential competitors) nearby?
2. Concept: Differentiate yourself in the market by developing a unique product.
3. Strategy: Develop a business plan, taking into account costs, product, design and more.
4. Funding: Raise at least 30% more money than you think you'll need.
5. Train: Your staff is the primary factor in whether or not new clients become regulars. Ensure they understand and can execute your vision through thorough training.
6. Guests: They are your indicators of success, so take their feedback seriously.
7. Observe: Monitor your costs, profits, and losses and adjust as needed.

Learn more about the logistics, design, and execution of restaurant success at ICE's School of Culinary Management.