Rebranding your Restaurant

I have summarized the blog for you. Of course, you are invited to read the story and share your feedback. 

Summary

The blog discusses the rebranding of a business as to why it is important to look at, and what factors to look into. I then list a number of indicators that maybe it is time. And in the same breath I urge you to be careful of your reasons. I advocate that you should change but only with the right reasons. 

The Blog

All restaurants experience change. It is the one constant in the universe. No matter how fresh it looked when you built it or maybe got it; as time passes, everything ages.

The decision to rebrand your restaurant is never an easy one to make. There are emotions involved around what you’ve created and how much time, effort, and money it has cost you.

But in reality, markets and technology are always advancing, developing, and morphing into the next new thing. Embracing change is the only way to stay relevant and connected within the world of branding and business growth.

You don’t want to be left behind by your competition simply because you don’t want to try something new.

So why must a Restaurant be rebranded ? What factors indicate that now is the time to do it ?

There are several indicators which often appear in a struggling restaurant business, indicating that it might be time to consider a rebranding project.

The prices aren't turning a profit

There are instances where a brand identity can limit the restaurant’s ability to push the pricing envelope. You’re well known for a particular pricing structure, and it would be detrimental to change the model while operating your current brand.

For example – you’re a well-known, moderately priced Indian cuisine restaurant that’s popular with families and young couples on a budget. You’re facing rising food costs and shrinking profit margins. Perhaps a rebrand could help you keep customers and create more revenue.

Through a successful restaurant rebranding, you can maintain your guests ' faith in their favorite establishment. Instead, they are tempted to try a new option and will accept that it comes with a new price tag.

You're not attracting good talent (staff)

Younger workers, team members, want to work for brands of their choice, who they find closer to their personal values.

If you don’t see these age groups lining up to join your restaurant team, you might be in need of a brand makeover. More ‘mature’ or outdated brands sometimes have a stigma with younger generations that is hard to shake.

You're plagued by bad PR

‘All press is good press’ is not a good advice - I still wonder who gave it in the first place. If something unflattering or damaging becomes part of the public narrative about your brand, you need to take action quickly. Shift focus away from the incident, pivoting attention onto how you are addressing the issue and improving the brand. It’s imperative that you hold or rebuild the loyalty and confidence of your customers.

Honesty and transparency are your best strategies when navigating a rebrand from a negative public image.

Your Sales are falling

If restaurant sales are falling or are on a steady decline, there could be more to the problem than you first notice.

There could be competitors who may have snuck onto the scene without much fanfare, but over time, they’ve begun luring your guests away. It happens even to the best brands – other restaurants will try to copy your success model, or new trends and fads will come onto the market and overtake you.

You’re on a Growth Plan

Perhaps it’s not a lack of sales or success – you might have found yourself on the other side of the coin. The business may have outgrown its original brand identity, which can be a great thing! Complications may arise, however, if your brand wasn’t initially set up with a vision for this level of growth.

This is a fairly common phenomenon. You started out with a little thing, and from it, big things grew. You’ve gone from a local gem to a well-known restaurant franchise, ready to take on the world. Ensure that you can rebrand the business to continue its growth and success.

You need to update your Look

Markets and customer preferences change, so the most resilient brands change with them. There will always be new competitors, emerging trends, and reinventions of the classics.

You may need to reconsider your brand image, to inspire new loyalty and attract more guests. A rebrand can achieve both these things, as proven by many well-known companies in recent years.

A warning

I urge you do not attempt to rebrand just because someone in the management line is bored of how your Restaurant or your neighbor's Restaurant looks. If one or more of the above mentioned factors are not troubling you, don't. It will only take away what you already have. Rather focus on how you can improve the value you provide to your customers.