In order to make money in the restaurant business, the proprietors have to have an edge on the competition. If hard work alone would do it, a good number of restaurant owners would already be rich.

There are actually only two genuine and sustainable competitive advantages anyone will have in the restaurant business.

Restaurant proprietors can't get the perfect chef or maybe the best property or the best menu or perhaps the cheapest prices -- at least, not for long. Culinary chefs can get a superior offer, road construction, building projects and population shifts may turn great locations into unsatisfactory locations. Great recipes may be stolen and even perfected. And of course, striving to have the lowest prices is not the way to go.

There are actually only two real and enduring competitive advantages virtually any restaurant owner can have -- Ingenuity and Marketing.

Writer and management master, Peter Drucker, said, "Ingenuity is the only lasting competitive advantage anybody can ever have in any business."

To loosely quote Ray Kroc, the McDonald's creator, knew the significance of innovation when he asserted, "McDonald's can innovate faster than the competition can copy."

Implementing unique promotional skills is a major component of innovation because --

Marketing is certainly the only thing that generates profit for a restaurant. All the rest is an expense.

When handled correctly marketing is definitely the best investment decision any restaurant owner may ever make. In the stock market as well as in real estate an individual can possibly hope for a 5% or perhaps even a 20% return on their investment. But in marketing, a $100.00 investment in promotion could bring back $1,000 in profit and frequently much more.

For instance, changing just a few words within a headline can generate two to 10 times extra profit from the same ad. Additionally the only cost to make the improvement would be the brief period of time it required the restaurant owner to learn tips on how to write headlines. That is a pretty quick return on your investment!

The average restaurant owner believes his job is to "just run his restaurant." He doesn't have time or make time to market his restaurant -- or even to learn about how to market a restaurant. Possibly that's why he's average.

A business owner can't make $100,000 annually doing $10 per hour work. A restaurant owner's job needs to be to market, innovate and promote his/her restaurant.

The restaurant marketing plan used by many restaurants is based mostly on anything the latest ad salesperson happened to be promoting. When it comes to marketing, many restaurant proprietors just duplicate what everyone else is doing. That could mean disaster for almost any private restaurant.

Most restaurant owners work very long hours, but it doesn't have to take extended hours to market, innovate and promote a restaurant.

Consider this, a restaurant owner that masters innovation and marketing could trade restaurants with any restaurant owner in town. Allow him to have the location, the food selection, the chef and staff members and a year from now the restaurant owner who is aware of how to creatively market will have the most profitable restaurant.

Learn how to stop chasing after the so-called competitive advantages that are temporary and non-sustainable. Focus on marketing and innovation and watch your restaurant profits go through the roof.

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