ST LOUIS, MO (StLouisRestaurantDirectory) We have a couple of announcements to make.
The first is that UltimateHost.Domains, our website hosting provider, recognized us in a blog post. Ultimate Host is a reseller for GoDaddy.com and offers a wide range of digital marketing products and services designed to help businesses of all sizes.
Secondly, our parent company, STL.News, LLC partnered with Signapy to provided credit card processing for the new eOrderSTL service. In addition to traditional credit card processing, Signapay offers PayLo, credit card processing equipment, POS systems, and cash advance or loan programs. These products and services will help us provide the necessary products and services to the St. Louis regional restaurants to help them survive and be more efficient utilizing our digital products and services.
Additionally, our partner, WebTech Group, can help implement bookkeeping practices using Quickbooks to help streamline a restaurant operation and give the owner the information necessary to make prudent financial decisions during this difficult time. In addition to eOrderSTL, WebTech Group can provide an owner-based, no commission restaurant online ordering system.
In summary, one of our primary missions is to help small local restaurants survive the pandemic lockdown non-sense that has destroyed more than 10% of restaurants across the country. That number will clearly increase over the next several months as many holds on only to discover later that they can’t recover.
Many restaurants have struggled for years due to low or even negative profit margins as competition, and operational costs have increased, but many restaurants failed to reflect the increase in expenses to increasing their menu prices.
There is nothing more important to restaurants right now than efficient marketing strategies and knowing their numbers using strict bookkeeping practices to make prudent decisions.
We have worked with multiple restaurants, and the most common error we have seen is the lack of accounting practices. We have restaurants that have to call their bank to verify their balance to write checks. That is insane and reckless business management.
Having said that, this high failure rate will create opportunities for those that do survive. Sharpen your pencil, look for marketing, business management, and expansion opportunities when the time is right.