The new year has begun and for many restaurants it is a time to take stock for 2020. What is the outlook for your business and for your life? We all know that running a restaurant takes everything you have, so planning for the year ahead is critical.
What do you look at when planning for the year ahead? For many it boils down to a few topics from which you determine a course of action. Below are just some of the topics to consider:
- Employee Management
- Increasing Sales Over Last Year
- Managing Your Food Cost
- Monthly and Quarterly Goal- Setting
Many experts say that the profitability of any business starts with your employees and the culture of your organization. Employee satisfaction can be seen throughout your business, from the front of the house to the back of the house. Building a culture of mutual respect, teamwork, appreciation shows its way from the meals cooked to the service delivered. Each of these experiences impacts your customers, the reviews they leave, and the profitability of your business. Employee retention is key to your profits.
Consumer traffic in restaurants has been down for a few years in a row for various reasons. You see the impact of this with many chains closing hundreds of locations across the country. Maximizing your sales is a multi-faceted endeavor. In 2020, the key is utilizing technology to grow your business with integrated marketing programs that not only drive new customers to your restaurant, but also increases visits throughout the year. Technology is rapidly changing, and most restaurant owners are still behind on getting the most out of what technology can offer them to improve their sales.
Food cost is an ever- changing game based on commodity pricing and distribution issues. These will continue in 2020. However, in many restaurants there are basic steps that are ignored that can impact your food cost, such as inventory management, recipe costing, portion control and waste. In a low margin business, every penny counts. Are you running a tight ship?
Last, but not least, is planning. Most restaurant owners live day by day and fire to fire. Rather than managing your business, it is managing you. Take a half day to step away from daily operations and plan out your quarter rather than react to the daily fires. Planning your growth will yield profits you can expect far beyond the half day away from the business. When was the last time you planned out a quarterly strategy to increase customer counts, check averages and marketing activities?
At CORE Restaurant Marketing we have been helping clients deal with everyday issues to help their restaurants succeed. Let us help you plan for a successful year in 2020. Your success is our benchmark toward measuring our effectiveness. You can reach us by email at firstname.lastname@example.org or call us at 888-890-9492 x1.