Restaurant Metrics That You Need To Track
Tracking the data will enable you to give you insights into your Restaurant Business.
It will allow you to skate to where the puck is going to be. This is one of Wayne Gretzky’s quotes about why.
We discuss cashflow. How can you track it, and how can you influence it? This is probably one of the most important metrics that people should track, but often it is not tracked at all, or in the level of detail that you should be tracking. Restaurants tend to be paid in cash, or Credit Card, so there aren’t a lot of receivables. How can increasing costs improve cash flow and how can you use the data to better manage your labour costs.
Days payable – do you track this and what does it mean? The formula is Days Payable / Annual Turnover x 365.
Rent per hour – How much does it cost you to be open every hour in your Restaurant.
Make sure you check out the show notes, or download the podcast, we have a lot more info on Restaurant Metrics jam packed into this profitable hospitality business podcast.
For more information on this podcast, check out our show notes.
If you liked this episode, please leave a review in iTunes. It really helps us to get the word out and share it on our Facebook page.
For Free Tools to build your Restaurant business, check out our free tools page. We’ve helped restaurants around the world build the Restaurant that they always wanted with our tools. Our free booking tool has taken over $25,000,000 in seats booked.
Right click here and save-as to download this episode to your computer.
Related Posts
You don't want to be the best restaurant that no one has ever heard of.
There are 2 types of Restaurant Website visitor – those who know your Restaurant and those who don’t. If your website isn’t set up properly, your regular customers will find your site, but new customers will be going to your competitors down the road.
Our free 7 point audit is designed to help you understand if your website is is bringing in the new customers that your Restaurant deserves.