Do you know how your restaurant sales compare day to day? As a restaurant owner, you are always monitoring operations to decrease expenses and increase profit. Beyond order entry, your point of sale system provides detailed reporting of inventory, sales, marketing, and labor performance—which all have a direct impact on profit.
By reviewing POS reports, you can get the financial facts and make informed decisions to streamline operations and increase profit. Pedro Galetti of Mozzarella de Bufala describes the impact in his pizzerias: “With SpeedLine, I can generate reports, I can do my schedules in store manager, I can control—really control—the stores,” says Galetti.
But the list of available reports is huge, highlighting top-level performance and providing all the detail you need to audit and analyze performance and variances. So which reports should a restaurant operator review every week?
I posted this question to Andie, a Support Project Specialist who works with SpeedLine customers to ensure their POS systems meet their operational needs. Every operator has favorites, but these five reports are Andie’s picks for a bird’s eye view of indicators related to sales, marketing and employee management:
- Daily Sales Summary. See at a glance the daily, weekly and monthly order counts, gross sales, credits, and net sales. Using this report, you can tell which days have the most orders and sales volume, allowing you to plan your labor and inventory accurately.
- Lazy Customers. Woo lapsed customers back to the restaurant with well-timed special offers. Set parameters to directly target regular customers who have not placed orders in a specific timeframe. Invite them back for a discount, or a free item. Restaurants who do this routinely see returns of 20 to 50% and up—a much higher return than the 1 to 2% typical from more costly blanket mailers or newspaper advertising.
- Coupon Usage. Determine coupon effectiveness with a report that compares gross sales and the value of the coupon applied. Did this offer generate the results you had hoped to achieve? This report quantifies the sales that the coupon generated, as well as the value of the discounts applied, to help you determine whether a specific offer or coupon is cost-effective.
- Sales By Item. Use this report for menu planning and inventory review. Easily identify your top selling menu items and discover slower moving items. Use this information to guide menu and price changes, and identify opportunities for promotions: perhaps eliminating a slow moving item, or building a new bundle deal containing a popular, high-margin side item.
- Credits Issued Details. It’s common practice in many restaurants to apply in-store credits to compensate for mistakes. These things happen. But a closer look at where these credits are being applied, and by which employee, will quickly flag any employee who may be abusing store credits by issuing them to friends or family.
Posted by Tricia Hoy| Author's website