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Part 4 – Growth & Expansion: Knowing your Numbers

By Tricia Hoy

Do you know what’s happening in every area of your restaurant? From food cost to labor management and inventory, knowing your numbers provides new insight to make the changes in your restaurant business that can drive profit, growth and expansion.

Your point of sale system makes it easy to see what your numbers are, but it’s only a tool. The true potential for big increases in profitability is in asking what the numbers mean, and digging deeper to find the answers.

Labor stats.  Great customer service requires the proper staffing throughout each shift. Over-staffing increases your labor costs, while scheduling too few employees can result in poor service that drives away business. Historically, restaurant schedulers relied on guesswork, but today’s point of sale technology can accurately predict how many staff you’ll need, resulting in measurable cost savings.

The sales history in your POS system is invaluable for forecasting traffic and suggesting labor targets to meet that demand. Other labor reports and dashboards give you tools to monitor and adjust staffing throughout the day to stay on target, and information to identify scheduling and related staffing problems and costs.

SpeedLine user? See where to find Key Labor Reports.

Food Cost & Inventory.  Controlling food cost is an ongoing challenge for every restaurant operator. From waste to theft to over-portioning, many factors influence overall food cost. The inventory reports in your point of sale software can give you a new level of control over many of these factors, and help you transition to managing more locations as your business grows.

For more on food cost and inventory, read Restaurant Profitability: 6 Keys to Food Cost Control for Pizzerias and The Inside Track to Managing Pizza Inventory and Food Cost.

Sales tracking. Do you know what your top selling menu items are? Who your top-selling employees are? We tend to pay attention to our best performers—and the non-performers. But what about the ones struggling or coasting in the middle?

The Item Sales and Employee Sales reporting in your POS can uncover potential: high-margin menu items that need some extra promotion, under-performing staff who could be motivated by a contest, and menu items that aren’t moving and are tying up operating cash in ingredients on your shelves.

SpeedLine user? Watch Analyzing Item Sales for tips on identifying menu winners and losers.

Knowledge is power. And power puts you in control of your business’s potential for growth and expansion. Are you mining the business intelligence in your point of sale system to gain new insights and position you for growth?


Posted on Tue, Jun 03, 2014 @ 10:06 AM.
Updated on April 16, 2019 @ 4:06 PM PST.

Posted by Tricia Hoy

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Tags: point of sale, POS reports, Restaurant Management

Get it right the first time.

There’s a reason pizza and delivery chains are driving the biggest changes in restaurant technology. Pizza and delivery concept restaurants are different from other restaurants, and they have complex needs at the point of sale. In this guide, gain the knowledge you need to choose the right technology fit for your restaurant.


 

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