Restaurant Business Plans, Systems, Checklists & Training
Resources to turn your good restaurant into a Great Business. From restaurant business plans to hiring, opening, training, inventory and startup checklists, menu cost, and operating forms and spreadsheets, Restaurant Owner has the systems and expertise to help make your operation a success. Don’t open a restaurant without it!
Actived: Wednesday Aug 12, 2020
Profit Tip: Gaining Control Over Comps, Discounts and Promos
First off, it's important to separate comps, discounts and promos into tracking categories that will help you measure the impact to your bottom-line. Although the terminology may differ among restaurant owners, the 5 basic categories of comps and promos we suggest tracking are as follows: Guest relations - these are service related discounts or
Profit Tip: How to Get Control of Your Comps, Discounts
Discounts and promos - these are attributed to sales and marketing, coupons, specials, loyalty, etc. Each category has its own level of accountability and acceptable impact to the bottom-line. The combined percentage of guest relations, employee meals and waste probably needs to be no more than 1-2% of gross sales for most operations.
How to Account for Discounts & Comps
When the total dollar amount of discounts and comps is low, the method used to record discounts and other off-retail price transactions makes little difference. Today, however, discounts and coupons to drive traffic and sales are used much more frequently by more and more restaurants. For example, I recently reviewed the financials of an upper
Why Discounts Can Be Bad for Business and What To Do Instead
This month, Jim Laube talks to Peters about coupons, what he calls the "cocaine of marketing." Says Peters, "When you put out a promotion, you put out a steep discount and you mail it out to your neighborhood and the money mailer or super co-op or to your own list.
How and Why Operators are Weaning Themselves Off
How Coupons Create Custom Discounting can be a powerful and effective marketing method, but if done improperly, it can also sabotage your efforts to acquire good customers. What to consider before offering discounts and coupons
Surviving COVID-19: How to Win at Delivery, Take-Out
Offering 20% OFF on to go and pick up orders! I agree with Paul about concentrating on our loyal clientele. Many of those have one kind of offer/coupon or another. Would it be bad to say that those coupons are not redeemable at this time? Save them for post-Corona?
How to Make a Customer Newsletter Your Most Effective
Newsletters can keep your restaurant top-of-mind for your customers like no other form of advertising can, including Web sites and other types of mailers. Advocates say they build relationships with guests second only to face-to-face interaction. Two experienced restaurateurs share tips and techniques on how to implement a successful restaurant newsletter.
How to Prevent Employee Theft in Your Restaurant
It’s estimated that the typical independent restaurants loses between 3% to 4% of sales to theft, with most of that coming from employees. Use these proven techniques to shore up your controls and dramatically reduce the amount of theft that takes place in your restaurant.