Doesn’t that sound like the perfect world? If your food and beverage operation runs this way, then there is no need to read on. However, most restaurants find themselves reacting to the business on a daily basis leading to poor or inconsistent customer service, frustrated employees being overworked or sent home early, and food waste. It doesn’t need to be this way! By creating an effective forecast, you can take out some of the guesswork and maximize your profit.
There are so many examples of poor planning in the food and beverage industry. Everything from the restaurant manager texting their employees at 11:00 PM at night to tell them what time they’re working the next day or if they’re working at all to a restaurant running out of food midway through service because they didn’t think it would be that busy.
It is important to consider new ideas and equally as important to understand that some initiatives can have consequences that come at the expense of something else, such as:
- Increased food costs,
- Reduce value or quality to the customer,
- Place the burden on other employees or departments,
- Or all of the above.
You need to fully investigate each opportunity and ensure the savings are, in fact, realized.
The following story is intended to show the significant costs of unrealized labor savings, followed by examples of steps to help the decision-making process.
It can seem very difficult to determine what is the right way as there are so many opinions on how to price a menu. This is most likely due to the number of variables involved, such as menu style, location, and demographics that each property needs to consider. This article provides general pricing principles and considerations, but there is not one concrete answer that fits all operations.
Instead, we will explore how to use data and your competitive set to help determine your prices and a few other strategies to help lessen the shock when you need to increase prices.
In the past efficiencies and productivity improvements were looked at to reduce payroll costs, It is hard to imagine currently that anyone would have an excess of employees. Now, we are looking at changing the operation to match the number of employees needed just to operate.