How to Conduct an internal audit for your restaurant

S.W.O.T. stands for Strengths, Weaknesses, Opportunities and Threats and is a great framework for evaluating your restaurant’s position in the market. Strengths and Weaknesses consider everything that you as the owner can. Opportunities and Threats refer to aspects of your business that you don’t have control over but are factors that can impact your business for better or worse. Together, all four categories come together to provide a holistic view of where you are in the competitive F&B landscape. It’s a useful and flexible framework to assess your current position, identify a strategy to move forward or to analyze a changing market and respond proactively. It can also be applied to a competitor to see what others do well and if there are any gaps in the market they primarily serve.
Strengths: What makes people choose YOU over everyone else?
What is the special something that your restaurant offers that others don’t? A special seasonal menu or your extra pretty sundae dessert that people love to Instagram? Is it your focus on authentic Japanese cuisine or your customer service that makes customers feel at home? Do you have a dish on your menu that only your restaurant serves, or do you only use the freshest ingredients from a premium seafood supplier in Singapore?
Identify what your restaurant is good at and continue to maintain that high quality of food or service that keeps your current customers coming back.
Weaknesses: What are the areas of improvement?
Identifying your flaws will not be pleasant but it is important to acknowledge them and get those weaknesses out of the way. Do you get bad feedback on a particular dish or is your staff not attentive to customers? Are your customers waiting too long for their food? Do you find your customers asking for chili powder at your ramen restaurant often? This means something is lacking in the whole restaurant experience.
It is likely these failings are holding back your business so it is vital to identify and overcome them as quickly as you can.
Opportunities: What external factors can you tap on to increase your sales revenue?
Perhaps it’s time to introduce more environmentally friendly packaging for your food as people are increasingly environmentally conscious. Offer a special discount during non-peak periods through applications like Eatigo or Chope to get to a wider audience. Many eateries now utilize Singaporeans’ love for Instagrammable food to gain popularity and get more reach too. What are the different ways you aren’t utilizing but should to increase sales?
Threats: What are the external factors that could harm your business?
This could be anything along the food distribution line and F&B industry. Is your food distributor delivering late? Are your competitors in the area offering more competitive prices or better ambience? Even if you are catering to a specific group of patrons, the proximity of your competitor could threaten your business as it offers a better option. There are many risks in the food industry that you must also look out for to maintain your restaurant’s reputation. Work with an experienced food distributor to reduce the risks of food contamination in your ingredients. For instance, Oregano Trading is a wholesale food distributor that works with original food sources like farms and fisheries to deliver your ingredients fresh. They have years of experience handling food and offer a one-stop shop for everything your restaurant needs, your ultimate choice for wholesale meat supplier, seafood supplier,  cheese supplier and supplier of herbs and spices.
The more alert you are about what could dampen your profitability, the better equipped you will be to react before it’s too lat
Location: Singapore

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