Leveraging Technology To Increase Profitability
Episode Summary:
This episode looks at the bottom-line challenges restaurants face, including unprecedented cost increases, labor shortages, the shift to off-premises dining, and persistent supply chain issues.
Key Points Discussed:
- Optimizing price without impacting frequency - We discuss McDonald's successful strategy of small, gradual price increases paired with value deals.
- Reducing labor turnover and controlling labor hours - Drawing lessons from Starbucks, we explore how providing competitive benefits and opportunities for career growth can lead to a more stable workforce.
- Controlling costs and cutting waste - We showcase Nando's successful approach to waste reduction through portion control and efficient inventory management.
- Ensuring individual menu item profitability - we discuss the importance of using sales data to assess menu performance and make necessary adjustments.
- Maximizing high-margin off-premises business - Highlighting Domino's Pizza's effective strategies, we emphasize the importance of optimizing delivery operations and promoting exclusive deals for off-premises customers.
Calls-to-Action:
Are you a restaurant owner looking to expand? Your location can make or break your success. Don't risk your dream on a bad lease. Click here to download my eBook 'Never Lease A Sh&tty Restaurant Space.' The step-by-step process and resources will help you make an informed decision instead of an emotional one.
If you prefer personalized guidance - book a FREE 15-minute consultation with me today to discuss your specific needs and challenges. I only have three slots per week, so book that time now!
