I wrote some content a while back about the 4 pieces of information that you need to use in order to "massively increase your restaurant profit"
So here you go... here they are.
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1) CUSTOMER COUNT
If you don't already count customers, trust me... you should.
Customer count, in my opinion is THE most important bit of information that you can track. It gives you so much knowledge on everything from when your customer dines, to how to forecast sales.
Its always number one for me.
2) AVERAGE CUSTOMER SPEND
Now that you know how many customers you are serving, knowing how much they spend is number two. I use customer spend to make decisions of all kinds... from what to put on special to how to fight increasing wages.
Customer spend tells us so much about all layers of the business including how many staff you need on your schedule.
3) AVERAGE STAFF WAGE
Surprisingly, I find that not a lot of restaurant operators know this one. It is different than minimum wage, and arguabley more important. Average wage will help you make good decisions around labor cost, pay raises, menu pricing and so much more. It definitely belongs in my top 4 pieces of info that you need to know.
4) TOTAL STAFF HOURS
This one can be broken down in to several sub categories, but anyway that you look at it, it's valuable. This number will help you manage everything from employee workload, to overtime cost, to staffing pars. It is something I looked at weekly as an operator.
Now...
A few ideas on how to put them all together to your advantage.
1) Let's say that there is a minumum wage increase coming(or the market is forcing your hiring wage up). You know you have to pay everyone more, and you know your average wage is going to go up. If you can calculate how much your average wage will increase, then you can figure out how much your average customer spend would need to increase in order to seem like the wage increase didnt happen!
We can go MUCH deeper into this though...
2) If you are trying to manage employee workload, you have to consider more than just their hours or how much overtime they are working. Think about this... How many customers do your staff have to serve at a time? How far do they have to walk to get what they need? All of these types of things go into "workload" and can add stress to the job. Consider all of the variables.
Truth is, I can't give away everything right here, or right now... But I do plan to share it all. Check in below and let's keep your restaurant profit growing!
Cheers,
Jim