Keep Your Restaurant Opened or Close up Shop for Thanksgiving?
If you are new to the restaurant business then you have an important decision to make. You have to decide whether or not it is beneficial for your restaurant to stay open on Thanksgiving Day. There are many factors to consider. For example, it is likely that your staff will not be happy to have to work on a holiday and you may have to increase your regular pay due to labor laws. Your food costs are also likely to increase because Thanksgiving dinner items are typically more expensive than food costs the rest of the year. However, for many businesses this is one of the busiest and most profitable days of the year. So how do you decide if it is worthwhile for you to stay open, or if you simply need to take the day off and enjoy it with your loved ones?
The first thing you need to do is find out if there are any other places that are going to be open. If you discover that all your competitors will be closed for the day, then you can assume that it stands to reason that they have established that the day is not profitable enough. If there are too many places open for business, it could also hurt your profitability. You have to get a good feel of who is open, what their prices are, what they are serving and what would make your restaurant stand out on Thanksgiving day.
The second factor to consider is whether or not you can acquire enough staff. If you will be as busy as many places are then you will need to be able to handle the business. This can only happen if you have the restaurant properly staffed. You may find that your staff is not necessarily happy about working on Thanksgiving. While you can schedule them and attempt to make them work, you cannot force them to show up. Of course you could let them go, but that will not help your Thanksgiving needs. So you need to know ahead of time that your staff will be there and that you can afford to pay them.
That brings up the third issue. Do you have the necessary resources that will allow you to stay open on Thanksgiving? Thanksgiving Dinner can be pricey. The turkey alone can get quite expensive. If you are serving a buffet style, it can be even more costly. So before you can decide if you are going to open, you will need to examine the possible food choices and ensure that your budget can handle it.
A Meal to Remember
If you do decide to stay open on Thanksgiving, you can use this opportunity to establish yourself as a great place for Thanksgiving Dinner. Come up with your own take on standard holiday fare and give your customers a meal to remember. If you open, make sure that you can handle a possible loss for a day. As a new business this has the potential of happening, and you would not want one day to cost you the restaurant you have worked so hard to establish. If you generate the hoped for business on Thanksgiving Day, then enjoy it and begin planning next year.