Dozens of restaurants closed, one with lines waiting an hour or more.
I have written about this situation many times in this blog, yet the circumstances are so extreme in this scenario it begs retelling the story, as we can learn from watching others and noting what works and what does not work.
Even in a down market, a few business owners understand what it takes to capture a larger share of a declining market then their competitors. Here is a perfect example.
It s clear that discretionary spending is being severely limited. Many people are out of work, have lost jobs, are victims of downsizing, or are simply in fear of losing their job, the stock market s severely down, and everyone’s real estate is worth less today then it was a few months ago or last year., and in response many are spending much less money on the luxuries, as everyone is tightening their belts.
Some industries are being harder hit then others in this most uncompromising business recession.
Restaurants are one of the hardest hit industries as many people are limiting or cutting back on such discretionary spending.
While I am visiting Florida, one of the hardest hit states in the country, it is obvious how many restaurants have gone out of business or are teetering on disaster as the number of patrons are fewer and fewer every day. The good restaurants are working at a reduced capacity and the average to poor ones are fighting for survival or going out of business.
Yet one particular local restaurant in the area has the locals standing in line for over an hour to get a seat…every day of the week. How can it be, twenty local restaurants closing their doors and one with long lines waiting to get in. What is this business doing that is right, that others are not, in the face of this crushing recession?
The answer is predictable, it is because the restaurant serves a high quality product, above that which others in the area serve and at a reasonable price, not inexpensive, but reasonable. General, all purpose American fair at above average but within reason pricing.
Quality sells well,…all the time. That is the message. High quality at reasonable prices, will always win out and bring the people in as well as back again and again. Its the repeat business that makes them a winner, as people know that they will get a high quality product each and every time. Its word of mouth that spreads the success to others and the lines never end.
Thee is a breakfast joint in Cape Cod Massachusetts that is also like this. People flock for miles every day of the week and spend more there then in most other breakfast spots yet because the product they serve is innovative, and most enticing, as well as the highest of quality, and even at an above average price point , the repeat business is consistent and the new business grows from word of mouth advertising. They too have them standing in line to get in while other breakfast spot parking areas are empty.
Every day of the week, some win some lose, even in a down economy competition continues, perhaps even more fiercely.
Quality always wins out in the end… in every business there is, even during a recession.
