Staying above water

How do operators stay resilient? At any point, one (or more) of the below will come up:

• Rent increases

• Rising cost of goods

• Contracted consumer spending

• Higher labor costs

But, most businesses perform above the absolute floor they need to perform at in order to turn a profit.

So, what does this mean? When one of the above occurs, it comes down to the basics: maintain profitability, even if at a lower revenue or margin level. Find cost savings elsewhere, boost revenue through new initiatives, do what it takes & work within the wiggle room.

If you can sustain profitable locations, you sustain – and that flexibility is the ultimate power.