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5 ways to improve restaurant profitability
Profitability is always on the mind of restaurant owners, and there are many ways to increase it, such as a focus on infrastructure, menu, and employee training. Choose a place to start and take a look at the following tips.
Optimize the prices of the plates
The first secret in improving the profitability of your restaurant to the maximum possible is to start by optimizing the price of your end products: the food.
A novice mistake is to price the dishes based solely on the ingredients used to create them, however, when having a quality business, you must conduct thorough studies to include each of the factors that are involved in the creation and handling of the dish: materials used, the cost of the kitchen staff, and the complexity in the presentation of the dish (resources used to carry and handle the dish once it is in the customer’s hands). A smart way is to keep data charts with each of the factors under consideration and the impact they have on the final price.
Train employees to upsell
Employees must be dynamic tools in helping the restaurant sell the best version of each of the dishes or products offered in the restaurant. The personnel in charge of handling customer orders must know how to offer more options to the clients that increase the restaurant’s profits, for example, larger portions of appetizers and accompaniments, not only by telling them about their availability but also by commenting on the benefits of ordering bigger portions, or how well certain side dishes may complement another taste-wise.
Optimize the menu
Speaking of optimizing the dishes, we must keep exhaustive control of the restaurant’s sales, including which dishes are the best sellers, those with average sales, and those with poor sales. Based on this, strategies should be developed on how to improve profits for each. For example, with the best sellers, how can additional elements be offered that can provide a benefit? What other ways can you economize the procurement of materials used for the creation of the dishes? For dishes with “so-so” sales, how can they be renewed or made more attractive, either with special deals or by reinventing the dish? For those with poor sales, you can analyze how to improve their attractiveness by comparing them with the dishes that sell better, or evaluate whether it is better to eliminate them from the menu altogether.
Create an image that sells
It is important to optimize the image of your establishment to the maximum extent possible, with appealing visual design, entertainment to accompany meals, and a striking presence in social networks. In short, you need a distinguishable personality. If you get your establishment to develop a sufficiently attractive identity, profits will not only come from the sale of food, but you can also add merchandise sales, hosting events, workshops, among other things.
Create a bond of trust with customers
Finally, once you have optimized all the components of the service, and have created a recognizable image, the best way to continue looking for profit strategies is to use customer feedback to polish all the areas that are necessary to offer a better service that in turn is accompanied by a better revenue margin. You can use feedback cards and quality polls to do this. After all, a satisfied customer, or rather, a happy customer, that came to your restaurant, will return again and will bring more people.