I work with many restaurants and collaborate with other professionals across the hospitality industry. One thing I continually see and hear about are the sheer numbers of operators not taking regular inventory or closely analyzing food, beverage and labor costs. It doesn’t seem to matter if the restaurant is just starting out or has been around for years, the trend is evident. This is crazy! It’s like feeding hundred dollar bills into your shredder several times per week.
Long ago, I learned “You Don’t Ask, You Don’t Get”. Don’t be afraid to ask. Why? Because the most successful restaurants not only Sell a lot, they Save a lot! Its just smart business. Give this episode a listen for more money making and money saving ideas!
To run a really profitable restaurant, you have to pay attention to the key financial details. The problem is, this can be a hassle. Many operators and managers just plain HATE the numbers and important processes like taking regular inventory and running food cost. So here’s simple solution…
In my last episode #57 we calculated your Profit per Dish in every category. Now armed with this powerful information, the Product Mix Report (PMIX) is the “key” that shows your restaurant’s volume of sales for every product on the menu. All you do is plug in a particular date range (at least a month or two) and see if your Most Profitable Items are your restaurant’s Biggest Sellers… If Not, time to do some menu tweaking to maximize your restaurant profits!