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The Economy Is Changing The Way Restaurants Do
Business! |
The economy has been "restaurant owner
unfriendly" for over a year now, however, we've
noticed some interesting statistics that we'd
like to share with the readers of this website.
- The number of daily transactions a
typical restaurant processes is virtually
unchanged. However, the average
dollar amount per transaction has decreased
by 5-10 percent.
- The costs of food have increased
everywhere.
- Increasing menu item prices seems to be
a bad strategy. The most
successful restaurants are cutting back
labor or extending business hours, reducing
menu variety and slightly adjusting portion
sizes.
- Credit card processing rates are being
pushed lower due to increased competition.
If you haven't gotten a quote from us yet,
please do so. We've saved many
of our customers in excess of $100 per
month.
- The availability of credit is impacting
restaurant owners hard. Positive
Feedback Software has put together some of
the best financing programs in the business.
Please call us if you would like an
equipment lease proposal.
- Gift cards remain an excellent way to
increase cash reserves and improve customer
return rates.
- Removal of pre-prepared foods from a
menu seems to be a good move. In
particular par-baked bread and pizza crusts
are much more expensive than freshly made.
Fresh also tastes better.
- Seasonal vegetables are getting less
expensive in most areas. Small
local growers are eager to sell to restaurants but
don't have the advertising budget to move
their produce quickly. A few
phone calls to area growers is all it takes
to improve quality and reduce food costs.
- Some restaurants have begun selling
inexpensive wines with sweetener added.
Served hot, these wines are commanding a
healthy price at desert.
- Deep fried foods are tasty but healthier
alternatives keep customers returning.
Some of the restaurants we see failing have
an "everything is fried" menu.
- Reworking your menu's pricing structure
so that no more than 35% of an items price
represents food cost is an excellent idea.
This may mean reducing prices and portion
sizes in some cases.
- Restaurants that allow smoking are doing
worse. Bars that allow smoking
are doing better. Combination
properties seem to benefit from a no smoking
policy.
- By using a POS system, it is possible to
run staff sales contests.
Restaurants which reward up-selling generate
higher value average tickets.
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