Restaurant reporting is a key part of measuring your business success, but how do you utilize those reports to boost revenue? A good reporting platform will give you data needed to make changes and adjust processes based on discovered opportunities for improvement. Here are 4 ways to use restaurant reporting to increase revenue.
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1. Optimize Labor Costs
Sales, Labor, and Cost of sales reports can help you identify trends in shifts, so you can adjust your staffing to keep labor costs low. During the holiday season, analyze data from prior years to determine the number and type of staff needed to meet seasonal needs and schedule accordingly.
2. Adjust Your Menu
Which items do you sell the most? Does it differ by location? Are there poorly performing menu items across your restaurants that you should consider taking off your menu altogether? Compare these KPIs to your customer feedback and adjust your menu accordingly. Organize discounts and promotions on items that aren’t selling as quickly to combat waste and revenue loss.
3. Identify Opportunities for Improvement
Reports like speed of service and loss prevention can give you insight into what’s working and where additional training is needed. Is the service significantly slower when the ticket average increases? Does speed of service slow down during peak times? Are there an increased number of mis-rings and canceled orders during certain shifts or when certain employees are scheduled? Look at trends to determine what processes aren’t working and if further training is needed.
4. Promote Specials During Off-Peak Times
Slower shifts mean staffing should be adjusted, but you can use your reporting to drive more customers into your restaurant during this time. Consider reviewing your most popular items and running a special to entice customers and fill empty tables.
It’s not enough to simply pull data from your point-of-sale system. For companies that want to increase revenue, drive sales, and lead their business toward growth, they’ll need to invest in robust reporting that delivers actionable insight. Knowing what to do with that data and what it means for your business will help guide you to make strategic decisions with confidence.