24 – Profitable Hospitality – Building a profitable Restaurant, Cafe or Take Out business

Date: 15-07-2016

Profitable Hospitality.

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Profitable Hospitality is the goal of all Restaurant owners, but it can be very hard to achieve.  We look at 7 areas that Restaurant, Cafe and Take Out owners can impact profitability and we look at ways that you can improve profitability in each of the areas.

1.  Your business plan and the sample P+L.  What are the KPIs that you need to be looking at to achieve profitability.

2. Your Marketing Plan.

3.  Hiring and training.  How much money are you wasting on bad hiring practices and how many great employees leave your Restaurant because it isn’t a great place to work.  We will cover one great tip we have used to find the great employees, which is very cheap to use!  We talk about how Nick Sarillo builds a great Restaurant culture.

4.  Wage costs.  How do you look at your wage costs?

5.  Rent.  We cover an interesting way to look at your rent and 1 way that may help you save a little rent per month.

6.  Managing your food and bev costs.  What is the number 1 way to decrease your food costs without decreasing the quality of your food?  Why not use some of the food costing tools from Sysco?

7.  Menu Engineering.  What is the process for Menu Engineering and how should you do that?  What is the number one most profitable phrase in Restaurant Marketing and are you using it?

8.  What is the 8th item of our list of the Top 7 things to do to increase your Restaurant Profitability?  You’ll have to listen to the podcast to find out 🙂

 

We look at Big Huey’s Diner, their awesome menu and some of the great things that they are doing to increase profitability in their restaurant.

Hopefully you’ll find some tips to find build your own profitable hospitality business.

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