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6 Tips for Restaurant Owners

Restaurants are one of the most common types of small businesses, but also one of the most difficult to make successful. The competition for most restaurants, even in small towns, is pretty intense, and margins are thin. Here’s advice from 6 top restaurant owners on how to survive and thrive.
6 Tips for Restaurant Owners
Make Sure You Buy Wisely
Last year, Danny Meyer's company, Union Square Hospitality, saved $200,000 through group buying. But he didn't force the chefs at his catering company and at his 9 restaurants to buy anything through the corporation. He made corporate procurement voluntary. As chefs discovered savings, they began to add more supplies to the group-buying bucket. “Saving 2 percent here and 3 percent there adds up to a lot, especially in a business with razor-thin margins," Meyer says. "And it has preserved our culture of bottom-up leadership.”
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