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In this article, we delve into five key ways that you should be using your POS data to forecast holiday demand for your restaurant. Analyze Previous Holiday Sales Data Past sales data is invaluable when it comes to planning the upcoming season. On the other hand, no restaurant wants to risk overordering.
The reality is, these vendors make a healthy profit off every sale, and many are willing to negotiate if you know how to play the game. Sysco, US Foods, and similar distributors have multiple revenue streams, but in this article, we’ll focus on one of their biggest sources of income: margins. That’s a different story.
There is an appeal there pointing to the frenzy, intensity, preciseness, and organized chaos of chefs and restaurants vying for public attention. I must admit that I am intrigued and having spent some time around that level of intensity find these operations both exciting and nerve wracking.
I came across an old quote from Phylicia Rashad (for those my age – the lead actress in the series “Fame” from many years back) that gave me another opportunity to think about the cooks that I know and have known over the past five (nearly six) decades and why I chose to stand in front of a range. Art is the basis of human expression.”
Sales of induction stoves are on the rise in the U.S., representing 18 percent of sales in 2023. Chatham University and the American Culinary Federation (ACF) are debuting a trio of online courses offering official certification in induction cooking methods. The courses that EcoChef is launching at Chatham University address this need.
Without KPIs, spotting inefficiencies in your workflow is nearly impossibleleaving you without the data needed to make informed decisions and grow your online sales. If youre one of the thousands of restaurants that added online food delivery in recent years, you might be wondering: is it actually helping my business grow?
In this article, youll learn: The most important restaurant KPIs for restaurant profitability, efficiency, and growth How to calculate and benchmark major KPIs using simple formulas Practical tips for tracking KPIs without getting overwhelmed Lets start by breaking down what KPIs are, and why they require your attention.
With cryptocurrency, Landry’s diners will be able to earn one point for every dollar they spend. Once they earn 250 points, they are rewarded with $25 in bitcoin. Rather than restricting loyalty points to one restaurant, restaurant groups could allow for shared earning and reward opportunities across brands.
Regular customers make up the backbone of any restaurants sales , but if you put a group of restaurant owners around a table, the conversation inevitably focuses on growth through new customer acquisition. Sales: 80% of sales typically come from 20% of clients. But first, why is customer retention such a big deal? Thats huge!
When delivery app orders sync with your point of sale, youre not just saving timeyoure improving order accuracy, speeding up the process, and getting cleaner reporting. In this article, well explain how both types of integration work, weigh the pros and cons, and help you decide which approach makes the most sense for your restaurant.
In this article, youll learn: How to factor in costs, competition, and customer expectations Which pricing strategies work in a real-world restaurant setting How to test and tweak prices without losing loyal guests Lets get started so you can make smarter pricing decisions that support both your bottom line and your guest experience.
In almost every conversation I have with other industry professionals, someone will say “before COVID… ” or “since COVID… ” As a matter of fact, in many of my articles I make the same comparison. I’ll make this connection for you later in this article. This is a trend I hope will go away.
In this article, you will learn: Why you should use your customer data to help your restaurant grow The different kinds of data you have available to you to use The best ways to use customer data to make better decisions Lets explore why customer data is one of your most powerful tools for growing your restaurant. You can increase revenue.
Identify your biggest pain points. Are you aiming to speed up service, cut labor costs, or increase online sales? Can it increase sales or customer retention? What was once a gradual process turned into a rapid transformation, permanently reshaping how restaurants operate and interact with customers. Are labor costs too high?
One key area to focus on is drink sales, with cocktail sales accounting for about 23% of a bar's revenue. In this article: How to calculate your profit margin for your bar What is the average profit margin for bars? Next, divide that cost by the total sales revenue from your drinks. This final number is your net profit.
In this article, we discuss how restaurant design is changing as a result of the COVID-19 pandemic and highlight how we must rethink the consumer-facing footprint to make the restaurant experience more sustainable and bolster consumer confidence. In a post COVID-19 world, restaurant design must evolve and adapt to the new normal.
Increased Emphasis on Online Ordering. The increased cost of goods due to supply chain issues and economic inflation is causing brands to look for other ways to increase margins. At the same time, the labor shortage means that associates need to be focused on high-value activities. Former competitors are now part of the same umbrella company.
In this article, you will learn: How to educate customers on why direct ordering matters Simple incentives to encourage direct orders Ways to streamline and promote your direct ordering system Lets explore the best ways to shift customer behavior and grow your direct ordering sales. But how do you get diners to change their habits?
In this article, you will learn: How a centralized delivery system eliminates the chaos of managing multiple platforms. A single mistakelike forgetting to accept an order on one app while preparing anothercan result in a frustrated customer and a lost sale. But what if all your food delivery apps were in one place?
Point of sale report(s), including IRS Form 1099-K. For applicants that are a brewpub, tasting room, taproom, brewery, winery, distillery, or bakery: Documents evidencing that onsite sales to the public comprise at least 33.00% of gross receipts for 2019, which may include Tax and Trade Bureau (TTB) Forms 5130.9 What do I need?
In my previous article, I discussed the advantages of giving managers and potential managers/supervisors a simple motivational survey. Serving – Learning point-of-sale tactics and guest interaction while understanding how to take an order, manage multiple tables and work with the kitchen. Experience vs. No Experience.
Since 2014, online ordering has grown 300% faster than dine-in and now accounts for roughly 40% of restaurant sales. In 2025, the US online food delivery market is expected to reach $424.9 billion in revenue. Customers expect to browse menus, place orders, and pay for their meals with just a few taps of their phones.
Sales Tax: Stay on Top of Local Rules Every city and state has its own sales tax quirks. Pro Tip: SkyTab can track sales tax by location with its reporting tools. Pro Tip: SkyTab provides sales and wage reports. Servers report them, but the IRS assumes 8% of sales if records slip. Dont let that be you.
Technology has permeated the quick serve restaurant industry and job functions – from point of sale (POS) to complying with food safety standards. The hi-tech workforce has expanded into factories, warehouses, ecommerce delivery fleets, and this article’s focus: quick serve restaurants.
So, here’s point number one: there is no cache of extra money, and the average restaurant makes just a few pennies profit on the dollar if they do everything right – so those discounts will likely mean that menu items will be sold at a loss just to play along with the promotion and support town efforts. Restaurant week is just one example.
Restaurants have responded to capture more off-premises sales by improving digital menus, whether found in-app, through a Google search or on store screens. More restaurants are also considering hiring their own courier service to deliver food directly to customers or linking up with aggregating sales platforms as a way to preserve margin.
Not only is it a critical sales tool for the franchisor, but it also gives a prospective franchisee vital insight into the franchise opportunity and help them make an informed decision to invest. This article explores some considerations for updating three key sections of your FDD this season and why franchisors should focus on them.
In this article, we'll go into 15 key performance indicators for restaurants, why they're important, how to calculate them, and more. Break-even point. Sales per labor hour. You can now determine what percentage this is off your overall sales to get a picture of your restaurant's financial health. Food cost percentage.
In this article, you will learn: How to improve your restaurants visibility so more people discover you Engagement strategies that turn first-time visitors into repeat customers Practical marketing tactics to fill more tables and increase takeout orders Here are eight strategies proven to attract more customers to your restaurant.
Today’s point-of-sale (POS) systems have changed dramatically and are a far cry from what was available just ten years ago, leaving many businesses to ask how do the newest versions of point-of-sale systems work? A point-of-sale system is an electronic method of processing payments and housing sales data.
In my last article I discussed how robots will transform our industry in a big way, but that is a few years off. In this article I will discuss the strategies that I have implemented with my clients across the country. It has been an incredible couple of years. COVID shut down the hospitality industry from March of 2020 to mid-2021.
If you want to build an understanding and even a level of competence with a variety of specific skill sets then clubs, resorts, and hotels may be the only place where that can happen. [] VOLUME: A very busy, well-branded restaurant might generate 5of 6 million in annual sales, where a club or hotel can easy boast four or five times that volume.
In this article, youll learn: How to optimize your restaurant website for more orders The best marketing strategies to increase online visibility How to use incentives and customer data to grow sales Lets dive into the top six ways you can increase order volume for your restaurants website. Make mobile-friendliness a top priority.
According to the latest Financial Trends Insights from Black Box Financial Intelligence™ , based on data from the week ending June 28, restaurants sales continue improving. See the latest sales and traffic results here: Sales Improve but Restaurants Should Brace Themselves for Challenges Ahead. Financial Trends Insights.
This trend is primarily driven by advancements in point of sale (POS) systems and the availability of white label, plug-and-play online ordering systems. This article explores how QSRs can harness the power of technology to enhance operations, deliver more engaging experiences, reduce costs and increase profitability.
In this article, we’ll look at how payments technology has evolved over the last few years and became an important ally for restaurants that want to level up their customer experience and their revenue while handling the busiest days of the year. In 2023, it is estimated that 87 million Americans will dine out on Mother’s Day.
If your restaurant isnt showing up in local searchesor if customers cant easily place an order once they find youyoure missing out on sales. To learn how to get started with Google ordering, check out our article on How to Setup Google Ordering for Restaurants. Next, take a look at your menu. Next, focus on your website.
Yesterday, I read an emotional, well-written, soul-crushing article by Gabrielle Hamilton – chef/owner of Prune Restaurant in New York City. It was an emotional experience reading this article and knowing that thousands of other chefs and restaurateurs across the country could have written a similar one.
In this article, youll learn: How menu management software streamlines menu updates and eliminates manual errors Why outdated or inconsistent menus can impact customer satisfaction and revenue Key features to look for when choosing the right software for your restaurant Lets explore why every restaurant needs menu management software.
By the time you finish this article, youll know how to approach restaurant marketing the right way and not waste time doing guesswork, crossing your fingers, and then hoping you see new customers walking through the door. This guide will teach you everything you need to know about getting started with restaurant marketing.
In this article, I’ll share the areas where AI is best suited to improve your restaurant business, what the limitations are and how restaurants can leverage alternatives to drive revenue, today. This might include correlation of social media posts, to reviews, to point of sale metrics.
HACCP (Hazard Analysis and Critical Control Point) food safety regulations. HACCP (Hazard Analysis and Critical Control Point) food safety regulations. The idea of creating a well-thought, engaging employee handbook isn’t why restaurateurs go into the food industry. Elements from the ServSafe Certification. Safe food preparation.
A milestone in shaping this admittedly problematic landscape came in 2015, when the EMV liability shift took place, as Pay Junction’s EMV article explains. This trend has been noted across the world and more often than not, these requests are satisfied, and it is the restaurant who’s footing the bill.
This edition of MRM Research Roundup features restaurant industry year-end totals, how restaurant labor is evolving, fast-food brand intimacy and top cities for locavores. An Unpopular Year. In April, the segment’s customer transactions declined by -70 percent compared to year ago, and improved its declines to -30 percent in December.
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