2013 is done! 2014 is here…. Now what will you do?
At the beginning of every year it’s always good to take a step back and see what worked and what did not work over the past year in your restaurant. Here are four quick easy categories to help you figure out your restaurant business plan in 2014.
Management Effectiveness. Do you have the right players on the team to help you achieve excellence? Who is on the team? From finance and marketing to staff managers down to servers and the kitchen staff, it takes many people to make a restaurant effectively. Have you taken a look from the outside in to see if your team is working well together? Who are the informal leaders on your team? Are there any toxic employees? Like a football team each player must do their job so that everything is moving in the right direction. Are you the leader of your team?
Operational Excellence. Do you have operational excellence? Do you know what indicators you need to be looking at to see if your restaurant is running effectively? Have you established performance goals? The national and regional chains effectively utilize data from their POS System to set and manage against goals for improvement. Are you setting goals in the key areas such as check averages, labor scheduling, inventory management and sales trends?
Effective Marketing. What is your marketing strategy? The landscape seems to be changing daily as to what is the most effective restaurant marketing. From print advertising to social media management what programs will improve your traffic counts and drive your check averages higher?
Measuring Results. Have you identified your key performance indicators and are you looking at them on a monthly basis?
Financial Management. Every business needs to manage their cash flow to prepare not only for current invoices, but prepare for the future? Does your restaurant have an effective cash flow management strategy or advisor?
During the month of January, CORE Restaurant Marketing will be delivering articles to you on our Google+, Facebook and Twitter pages that will help you answer some of the questions that were raised in this blog. Please follow us on Google+ where post articles from other industry professional to help guide you through the maze in 2014 and make it a great year for you.
With over 30 years of experience in the food industry, CORE Restaurant Marketing’s mission is helping restaurants improve their revenues. To learn more about how CORE Restaurant Marketing can bring value to the restaurant industry, download the Free Whitepaper “Key Drivers to Restaurant Profitability”.