article thumbnail

New Year, New Deals: How Smart Operators Keep More Profit

Modern Restaurant Management

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. Start by asking your distributor sales representative for a usage report covering the past twelve months, often referred to as a “Descending Dollar Usage Report.”

article thumbnail

Restaurant Menu Pricing: How to Set Prices That Boost Profits And Keep Customers

ChowNow

One approach is to use a contribution margin model : after youve calculated food cost, ask yourself how much money is left from the sale of a menu item to cover everything else. Yes, competitor pricing can give you a ballpark idea of what customers in your area expect to paybut it shouldnt be your only reference point.

Pricing 195
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Leveraging POS Systems to Future-Proof Your Restaurant and Maximize Profits

Modern Restaurant Management

To combat these obstacles among countless others, leaning on point-of-sale (POS) solutions can empower restaurants to quickly leverage new features to maximize profits in a fluctuating service economy. For reference, the top four U.S. Retaining and Attracting Employees. Prioritizing Employee Efforts.

POS 539
article thumbnail

Optimizing Drive-Thru Efficiency (Infographic)

Modern Restaurant Management

With drive-thru sales constituting approximately 70 percent of fast food revenue , worth billions monthly, the speed at which customers navigate your drive-thru not only impacts satisfaction but also determines overall profitability. For additional insights into the significance of speed in your drive-thru, refer to the provided resource.

article thumbnail

Mobile Ordering’s Role in Customer Retention

Modern Restaurant Management

The term table stakes originates from poker and refers to the minimum requirement to be considered a player. Third-party services generally charge high commission fees which means while sales might go up profits won’t increase at the same rate. Set the Bar. Stay Connected. But these short-term savings come with long-term costs.

article thumbnail

Five Steps for Leveraging Digital Data Collection to Manage Changing Rules and Challenging Times

Modern Restaurant Management

You won’t need to reference external sources if your own standards go above and beyond the requirements. Determining your own standards allows you to focus on specific data points, especially data points unique to your business. For franchises, that means making sure your evaluations and data collection house in order.

article thumbnail

Reporting Best Practices in the Restaurant Industry

Modern Restaurant Management

For example, basic point of sale (POS) systems or integrated restaurant management systems are useful digital tools that enable data reporting. For example, labor, sales, inventory, and customer relationship management (CRM) reports are some of the reports restaurants should consider pulling together.