How to manage in uncertain times – Parramatta’s Restaurant 317 takes active steps

In times of uncertainty and change, business owners need to take active steps to update the way their business operates across key areas, including cashflow and marketing.

Pierre Sande from Restaurant 317 has been on the front foot, working with Realise Business advisors to change his business model so that it accommodates the way that customers are engaging with his restaurant while the COVID-19 crisis is taking place.

Established in 2005, Restaurant 317 has a great reputation for offering diners a wide array of dishes and the range has continued to expand over the years, as has the size of the restaurant.

Recognising that foot traffic and customer buying habits were significantly changing due to government health and safety restrictions, Pierre sought advice from Realise Business advisor Tim Noye. They worked together to develop a new tailored business model that was focused on keeping his restaurant afloat throughout the crisis period, with all eyes towards a bright future.

The main strategy was to pivot operations from face-to-face to online.

Some of the key elements involved in the development of Pierre’s new food and beverage business model included:

  • Delivery services – Restaurant 317 changed their delivery menu, offering a reduced number of quality dishes to help control costs and overheads but also cater to the changing market needs.
  • Staffing and operations – Pierre adjusted staffing and operations to meet the changing circumstances and trim costs wherever possible. His aim was to conserve some cashflow for when the pandemic is over, and trade begins to return to normal.

By actively managing business costs, Pierre is now well positioned to focus on marketing and promotion strategies that are designed to appeal to changing customer preferences and current limitations on the way that customers can purchase dishes through his restaurant.

Pierre from Restaurant 317 said ‘“when we re-open in May, 317 will continue to operate as a ‘ghost kitchen’ and will be offering modern Italian food deliveries through Ubereats.”

Realise Business advisor Tim Noye believes that business owners should take immediate action to access the free advisory services available to them at this time.

Tim recommends that food and beverage businesses can benefit from taking a holistic viewpoint of their current circumstances and leveraging overall opportunities to achieve the best financial and sustainable outcome. In Pierre’s case, the process of working with professional advisors enabled him to gain a better understanding of the business as a whole.

Pierre is happy to have been supported with professional, tailored business advice as he puts new structures in place.

When speaking about his experience working with Realise Business, Pierre said “It’s just nice to feel supported by people with answers and solutions to the issues I currently have.”

Realise Business Advisors are available to help you develop actions that will assist with making adjustments to the way your business operates. The common goal is to meet the needs of current and future customers, both while the crisis is upon us and throughout the recovery phase.

 

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