Running a Profitable Restaurant
When it comes to operating a profitable restaurant, in an industry known for thin profit margins, attention to operational details means everything. Recruiting and retaining the best employees, selecting properly from among a myriad of food and beverage vendors, establishing cost-minimizing operational policies and procedures, identifying and implementing the best POS software, and maximizing customer satisfaction all figure into the equation. The most successful restaurant owners know how to combine “high-tech” back-end operational tools with a “high-touch” approach to customer service.
In an increasingly tight labor market, recruiting and retaining the best staff demands a sensitivity to the unique needs of each employee, as well as the needs of the employee’s immediate family. Offering a competitive benefit program is important, but non-financial considerations also figure into the equation. Whenever possible, restaurant owners are encouraged to offer competitive benefit programs. However, it’s important to note that start-ups can also attract talent by engendering the right work culture.
Identifying the pool of quality food and beverage vendors, negotiating favorable contract terms, and establishing and maintaining effective inventory control policies and procedures all contribute to maximizing the bottom-line.
Considering the high-volume nature of the industry, portion monitoring and control is a huge factor in business success. One bartender who routinely over-pours drinks, or one cook who routinely over-plates food, can have a significant negative impact on the bottom-line.
There are numerous vendors of restaurant-focused POS software, and matching the software to the restaurant business model can be a challenge. POS software plays an important role in maximizing the customer experience from seating, server assignment, order placement, meal preparation and delivery time, and bill payment.
At the end of the day, customers are seeking a quality meal and quality service, at a fair price. TRG Restaurant Consulting can assist current customers and business prospects in maximizing both the customer experience and the business bottom-line. Call us for a free consultation.
