Category: Sales
-
Engaging with Local Communities
Engaging with local communities is not just a noble endeavor but a strategic business move that can significantly boost a restaurant’s profitability by increasing foot traffic. By forging connections with schools, churches, universities, hospitals, and other local businesses, restaurant operators become integrated members of the community, rather than isolated entities.…
-
Raising Menu Prices: When to Do It, How Much, and How to Communicate It
The most consistently underpracticed financial discipline in independent restaurants is raising prices. Operators who have not increased menu prices in 18 to 24 months, in an environment where food costs, labor costs, and occupancy costs have all risen, have effectively given themselves a pay cut. The math is simple and…
-
Profit and Loss by Sales Channel: Not All Revenue Is Created Equal
A restaurant’s P&L typically presents revenue as a single line: net sales. That aggregation is useful for understanding the overall financial picture, but it conceals something important — the margin profile of different revenue streams can vary enormously, and a restaurant that does not understand its profitability by sales channel…
PROTECTING THE BOTTOM LINE 