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15 Restaurant Metrics to Know and How To Use Them

7 Shifts

In this article, we'll go into 15 key performance indicators for restaurants, why they're important, how to calculate them, and more. Table of Contents: Cost of Goods Sold. Labor costs and labor cost percentage. Food cost percentage. Prime costs. Customer Acquisition Costs. Cost of Goods Sold.

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Track Earned Vs Actual Labor Hours to Boost Revenue for All Locations

7 Shifts

In the wake of the great resignation , restaurants have been raising labor costs to both attract and retain all-star employees. These raises have certainly helped employee standard of living, but they also require more accurate multi location scheduling and team management to keep menu costs low and the restaurant profitable.

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How to Write a Restaurant Business Plan [with Sample]

7 Shifts

Start creating you restaurant business plan with our free PDF template. Speak to what sets you apart from the pack, what food you'll serve, the service style (fast-food, fast casual, fine dining, etc.) Budget at least 2-3% build cost for Grand Opening marketing. Startup costs. Restaurant Business Plan Template.

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7 Restaurant Management Tools for Maximum Productivity

7 Shifts

For example, a Sanitization checklist may include: Sanitize food prep surfaces ? Try 7shifts for free. It also allows easier sync with your payroll to cut down on time calculating hours worked. Task management software can maintain historical data of tasks completed. Doors and light switches ? POS and phones ? Time Clocking ?

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9 Top Restaurant Technologies To Evolve Your Business

7 Shifts

After that, the most popular back-office technologies were accounting software (55%), mobile payments (52%), and third-party food delivery services (51%). Optimized labor costs : Better insight into when you need people to work (based on historical data) and fewer no-call no-shows means better resource utilization and optimized labor costs.

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Economic Outlook and Tips for the Restaurant Industry

Modern Restaurant Management

Restaurants trying to attract price conscious diners should make sure that their menus carry several low-cost, higher margin staples that can be sold at reasonable prices. Are you are offering a premium product vs. a low-cost, high-volume product? These advocates can help spread the word about your restaurant virally, for free.

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What is a Tip Credit? How They Work, Calculations, Laws, and More

7 Shifts

How to calculate tip credits: examples. Tip credits allow employers to include tips as part of wage calculation. Tip credits are not a deduction; they are simply included in the calculation. Labor cost is typically a restaurant's most considerable expense. How to calculate tip credits: examples. x 10 hours).