There’s a lot your business can learn from food-service industry powerhouses, such as McDonalds and Panera Bread. These businesses have mastered the art of customer service and creating fad foods that draw more customer patronage (McRib anyone?). The following companies can teach you a lot about management, growth, revenue, and marketing.
McDonalds is a “Business Coaching Company”
According to London Coaching Group, a blog for business professionals looking to improve business strategy through employee coaching, McDonalds is a powerhouse today because of process. Customers don’t have to wait for more than a couple minutes for their food to be ready, which means they can get back to life faster. Moreover, the food is always consistent. Customers know what they’re getting.
Process is something most fast-food chains offer, which is why they’re so irresistible to customers and thus incredibly profitable. The company’s process operates internally too, as McDonalds in known for consistency in employee coaching. “Each team member knows exactly what goes into what menu item, in what order and how many seconds it should take them to do it. These processes have been developed, tested and redeveloped to wean out all inefficiency from the organization.”
It’s this dedication to coaching and process that has resulted in substantial stock growth since the company’s origination. Current MCD stock news is favorable to McDonalds, who’s testing the profitability of flavored coffee. There’s a great deal of profitability in coffee flavors, and McDonalds will likely coach their employees to be able to discuss the new flavors, as well as get them to customers swiftly.
So, what can your business learn from McDonalds?
In terms of management, you should embrace the fine art of coaching. Your employees should understand the process of your company, from hand washing to the food line. Growth comes after process, and once your customers are satisfied regulars, go ahead and add something new to the menu. Revenue will follow the process model if you have something your customers want and rely on. Finally, when marketing new food stuff, look for items you know have market demand.
Panera Bread Offers Healthier Fast Food Options
It’s the age of healthy eating, and Panera saw a need for healthier options on fast food menus. The company now offers quick meals without all the excess sugar, fat, and salt consumers find on other fast food menus. By having a niche, Panera Bread was able to find a place in the fast food industry. The food service powerhouse current employs over 80,000 associates, according to its corporate website and serves more than eight million customers every week.
In terms of marketing, Panera Bread does all the standard stuff (commercials, coupons, signage, etc.), but they have one unique way of marketing themselves that attracts so many customers – Smell. Panera’s handcrafted breads are bestsellers because they can be smelled the moment a customer walks into the business, and the first thing a customer hears from an associate is typically, “Start with bread.”
So, what can your business learn from Panera Bread?
First, your business should take note of the company’s marketing strategy. The tempting aroma of bread draws in customers, but you may not have freshly baked goods to draw in customers. Moreover, you may not have a location inside major retailers or in shopping centers. But, that doesn’t mean you can’t learn from Panera Bread. It’s all about having something new to offer, using a gorilla marketing strategy that tells customers they won’t find service or food like yours anywhere else.
Track All Your Accounts With Personal CapitalPersonal Capital lets you see all of your accounts in one convenient place. Sign up now for free.
More from my site
Latest posts by Mr. 4HWD (see all)
- Five Ways To Keep Your Business Finances in Check - October 19, 2020
- The Great Importance of Leverage in Forex Trading - June 23, 2020
- 4 Steps to Take When Starting a New Business (That Not Everyone Thinks to Do) - June 12, 2020