Category: Sales

• Sales

  Beating Your Financial Goals: Attract New Guests

  Attracting new guests is akin to breathing fresh life into your restaurant’s business model. It’s an essential and ongoing task that brings in fresh perspectives, tastes, and revenue streams. Understanding the market is your first step, and conducting research to know who they are and what they want is crucial.…

  August 21, 2023
• Sales

  Strategically Navigating Costs and Value

  Balancing costs and perceived value while navigating economic factors and inflation is a critical aspect of maintaining profitability in the restaurant industry. Staying ahead of commodity changes in the marketplace requires constant vigilance, flexibility, and strategic planning. An increase in product prices poses a significant challenge; deciding whether to absorb…

  August 16, 2023
• Sales

  The Core Customer: The Heart of Financial Success

  Your core customer is not merely someone who patronizes your restaurant; they’re the embodiment of why your restaurant exists in the first place. What do we mean by “Core Customer”? These are the regulars, the enthusiasts, the ones who resonate with your menu, atmosphere, and values. Your core customers don’t…

  August 11, 2023
• Sales

  Sales = Customer traffic x Price per Customer

  Customer traffic is the heartbeat of a restaurant, the rhythm that fuels its very existence. This fact will be repeated frequently: the importance of traffic in the restaurant business cannot be overstated. It is the foundation upon which every other aspect of success is built. Every guest who tries your…

  August 8, 2023
• Sales

  Less Frequent Guests: Opportunities to Grow Profit

  Less frequent guests occupy a unique and valuable space within your restaurant’s ecosystem. While they may not be the regular faces you see week in and week out, their sporadic visits play an essential role in supplementing revenue and enhancing brand awareness. These guests are often driven by occasion rather…

  August 2, 2023
• Sales

  Online Reviews and Reputation Management

  Online reviews and reputation management play a pivotal role in enhancing profitability at a restaurant. In today’s digital age, potential diners often turn to online platforms like Google to research eateries before deciding where to eat. Therefore, a restaurant’s online reputation can be the deciding factor for many customers, making…

  July 21, 2023
• Sales

  Gross Sales versus Net Sales

  Gross sales and net sales are key metrics that restaurateurs must grasp to effectively manage their finances. Gross sales encompass the total revenue without any deductions, painting a broad picture of income. However, this number can be misleading without considering the net sales, which factor in specific deductions such as…

  July 16, 2023
• Sales

  Guest Frequency Composition

  The guest frequency composition in a restaurant is a delicate and essential balance that significantly impacts revenue and profitability. Understanding this composition and striving for an ideal mix can help in creating targeted strategies to maintain and grow your business. Maximizing profits in the restaurant industry requires a keen understanding…

  July 3, 2023
• Sales

  Pricing Models: Finding the Sweet Spot

  The art and science of pricing in the restaurant industry is a complex yet essential aspect of achieving success, involving a delicate interplay between psychology, economics, market trends, and customer behavior. Finding the perfect balance between what the customer is willing to pay and what the business needs to make…

  July 1, 2023
• Sales

  Lapsed or Very Infrequent Guests: Triage Opportunities

  Lapsed or very infrequent guests represent a segment that, at one point or another, connected with your restaurant but has since drifted away. Whether due to a change in location, financial constraints, a negative experience, or simply evolving preferences, these guests are no longer active contributors to your revenue. However,…

  June 30, 2023