1. Educating the public: It's important to educate customers about the real cost of running a restaurant. Often, people are more interested in what they can afford rather than understanding the actual cost of living in the industry. We need to bridge this gap and raise awareness.
2. The value of experience: Restaurants thrive by offering a complete experience beyond just food. From outstanding service and entertainment to a captivating environment, providing value through the entire package is key.
3. Pandemic-driven education and experiences: The pandemic has spurred a thirst for knowledge and new experiences. Customers are increasingly seeking out learning opportunities, exploring new products, and being captivated by compelling stories. This presents exciting avenues for restaurants to engage and entice their audience.
4. Investing in talent and diversity: Kricket's focus on sponsoring chefs from India and promoting female chefs highlights the importance of cultivating a long-term workforce. In-house referrals and fostering a diverse and inclusive environment contribute to a strong team.
5. Addressing labour challenges: To overcome labour challenges, it's essential for the industry to create positive working environments, prioritize effective management, and support staff training initiatives.
6. Funding and sustainability: Raising funding for restaurants can be expensive, but aligning with ESG targets can help secure loans and better rates. Furthermore, forging partnerships with landlords is crucial in navigating the costly and stressful process of fitting out restaurants. Sustainability and waste management are also significant concerns for the industry.
7. Opportunity in the UK: Investments in restaurant locations in the UK are seen as a great opportunity with potential for growth. The industry should embrace this potential and remain ambitious in pursuing further achievements.
8. Using technology for operational improvements: AI technology can greatly benefit labour management, back-of-house operations, and recipe development. Embracing technology and process improvements in these areas can drive efficiency and productivity. However, it's important to maintain the human touch in areas such as customer interaction and labour management. Striking the right balance is key to success.
In conclusion, the round table event shed light on the challenges and opportunities faced by the restaurant industry. By focusing on education, talent development, sustainability, strategic partnerships, and technological advancements, we can drive positive change and continue to thrive.
