Sadly, many hospitality businesses are struggling right now. With the spread of the pandemic, many people are choosing to stay home. Are you worried about how your business is going to survive? Here are some vital tips to make sure that your business survives the crisis.
Understanding How the Market is Changing
The best way to ensure your business’s survival is you need to work to understand how the market is changing. With decreased travel, you should be doing everything you can to keep in contact with customers and keep them engaged- you do not want them to forget that you exist.
The market is changing because the customers’ needs have changed. No one wants to travel right now- it is seen as dangerous. Offering travel packages and the like could be seen as insensitive, so you want to be sure you change your business’s approach.
Hospitality companies have a lot to offer customers, you should be familiar with what you can do to keep them engaged. Spa days in hotels or keeping customers apart at restaurants is an option. If you have not been offering take out, now is a great time to start.
Hotels and restaurants should be taking extra care to clean and reassure guests that everything has been disinfected. With some states starting to reopen, be sure you are aware of what your patrons expect from you and follow suit- otherwise, they will go somewhere else that does.
In short, the market has changed. For your business to survive these tough times, you need to know what customers’ needs are and how you can meet them effectively.
Dropping the Buffet (For Now)
Plenty of hotels offer a complimentary breakfast- they were expected to until recently. Now, many people are afraid of eating from them and will avoid them entirely. This is another way that the hospitality market has changed.
If your hospitality business is struggling and offers a buffet for guests, consider dropping it. The number of people eating from them is greatly decreasing, meaning that you are spending more money than you have to. Plus, with new COVID-19 safety regulations, keeping the buffet clean after people take from it and touch food can be difficult.
You do not need to permanently abandon the buffet, but in light of the pandemic, you may want to consider putting it off and reopening it later. It will keep your guests feeling safer and save you money in these troubling times.
Hospitality management is always expected to be hygienic, but more so now. By showing potential customers that your business is safe and clean, they will be more likely to stay with you or purchase other services.
Clean businesses generally see more customers, however, this effect is increased dramatically during the pandemic. Officials believe this trend will continue strong even after the health crisis has ended.
But, especially so with hotels. Potential guests are aware that strangers stay there and that they would be confined indoors near them. You need to do everything you can to ensure that their rooms are cleaned extensively.
Post signage around your building recommending frequent hand washing and masks. If you are able, place hand sanitizer stations around the building for guests to use freely. Being sure that employees are seen cleaning and practicing good hygiene is also important to surviving a crisis like this.
When guests are aware that you are doing the best you can to take care of them, they will feel safe with your business. This means they are more likely to come back and will tell friends and family positive feedback about your hospitality business.
Customers unsatisfied with their time with you will do the opposite- keeping your reputation up during a crisis is crucial to surviving it. Everyone will remember who followed CDC guidelines and who did not.
Be Aware of Rising Costs
Every aspect of hospitality businesses is becoming more expensive. There needs to be more money spent on cleaning, providing sanitary supplies to customers, and keeping “the new normal” running.
Being aware of what you need to spend on money on is half the battle with surviving a crisis. If you spend it on unnecessary things, then you will not have it for what matters more- causing your company to struggle.
Take some time to sit down and start a crisis budget plan. Knowing exactly where your finances are going and how this can be improved is vital to keeping your business running smoothly.
What Can You Do for Help?
If you need help planning for a crisis or need more advice, you can contact MBB Hospitality. They offer counseling for many businesses and can assist you with any problems you have. Knowing that you are not alone during a crisis is good news, you should take advantage of any help that you can get.
They offer services specific to your business needs whether you run a franchise, hotel, restaurant, or are in commercial real estate- they can help you make your business stronger.
During a crisis, you want to be sure you are doing everything possible for the survival of your business. MBB Hospitality will help you.
So, what can you do for your hospitality business to make sure it survives the crisis? Other hospitality management is looking to understand the changing market. Knowing your customers’ needs means that you can follow the market and keep them engaged.
You may consider changing some aspects of your business, such as leaving the buffet out for now. Of course, you also want to demonstrate your company’s cleanliness to the public- everyone should see how hygienic and safe your business is in the crisis. Be aware of how these changes will impact your spending.
Finally, know that you can turn to MBB Hospitality during times of crisis. They can assist you, no matter what type of business you run, improving your odds of survival.
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