With rising costs of goods and staff, it’s no wonder that cutting costs and increasing revenue are among the top goals of the restaurant industry.
However, it is only possible to achieve these goals if you have an overview of all your costs and revenues. This is easier said than done when you look at the system landscape of modern restaurants. Cash register, staff planning, merchandise management systems from different providers at different locations, from which you have to collect all your figures manually. Add to that advertising costs, rentals and possibly accounting systems.
Prognolite brings all incomes and expenses together in one place to help restaurant managers run their restaurants more profitably.
How this works, we show you in 6 steps:
1.Better staff planning
A lack of staff makes staff planning a real challenge. That makes it all the more important to use the resources you have available properly. This means more employees when things are busy and fewer employees during quiet periods. In this way, peak periods can be used with sufficient staff to serve a higher volume of customers as efficiently as possible, and then save costs during quieter periods.
However, this requires dynamic planning: every day is different, and schedules need to be adjusted depending on the time of year, month, or other factors that affect your sales. If the same staffing plan is used week after week, the full potential cannot be realized.
SuccessShark by Prognolite shows expected turnover every hour, which can be used to optimally plan staffing. Depending on the data basis, even a shift envelope forecast is possible, so that subsequently the shift envelopes only need to be staffed with the appropriate personnel.
2. Productivity per working hour
Increase the revenue you can generate per working hour spent. For example, determine what the target value is and train the team accordingly to either sell more items or reduce the number of employees to reach the target value.
With SuccessShark, you can choose to see either labor costs as a % of sales or productivity per hour in CHF. This way, the goals you set can be tracked at a glance.
3. Upselling through best practice
It’s on everyone’s lips: upselling. Keep an eye on the statistics of each team member. Who has the most additional sales for drinks, side dishes or dessert? If one employee stands out and consistently sells successfully, you can use that as a best practice to pass on to the other team members.
With Prognolite, you can track the average receipt of your team members. Make sure you only compare team members who work the same shifts. This way you get a realistic picture and don’t compare someone who is at the bar during happy hour with someone from the service department on a quiet Wednesday morning.
4. Ordering of goods according to sales forecast
After staffl costs, the cost of goods is the biggest cost driver. Therefore, it is even more important to avoid over-ordering. The best ordering technique for this is dynamic ordering, where orders are placed according to future demand, rather than static ordering, where a certain number of items are purchased regardless of future outlook.
Combined with Prognolite’s SuccessShark, which shows you the cost of goods versus revenue, you can see at a glance how successful your purchasing strategy is. With one click you can see where you need to take a closer look and make adjustments. The sales forecast also helps you to better plan the required menus and thus avoid food waste.
5. AI and/or manual forecasts
No one doubts the effectiveness of your gut feeling, which you have trained yourself through years of experience. However, in today’s world, it’s hard to take all factors into account, especially when you have to take care of multiple locations. AI forecasting comes to the rescue.
Most companies use a rough forecast of the coming four weeks for their sales forecast. However, this takes too little account of seasonal fluctuations or major events, which can lead to demand being greatly over- or underestimated.
By using Prognolite and our AI-based sales forecast, your forecasts will be 30-50% more accurate. This means you can efficiently deploy your staff with rosters confirmed well in advance and order the right amount of food.
Make sure there is a regular process to review and approve the proposed forecasts! Artificial intelligence (AI) can optimize the forecast, but only in combination with a manager’s input will the optimal result be achieved.
The more processes can be automated, the more time you and your team have to take care of guests.
Digitalization has long since arrived in the restaurant industry. What might have seemed scary in the past is becoming a viable option in a world with more and more technological options. These technologies can relieve you and your team of administrative tasks.
With Prognolite, you’ll save an average of up to 14 minutes of office time per day per restaurant. Manual collation of figures from different systems is eliminated and the error rate is noticeably reduced.
Contact us and we will show you how you can reduce your costs and increase your revenues with Prognolite.
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