Apicbase

AUGUST 5, 2022

Question #5: How to track your restaurant marketing ROI? When it comes to measuring the return on investment (ROI) of your marketing, you can focus on specific marketing campaigns or the overall investment. The most straightforward ROI formula for marketing in a restaurant is: gross profit/cost of investment. Consistency is key.

Marketing 97

Marketing Operations Social Media Email Marketing 97

Modern Restaurant Management

MARCH 25, 2021

So, the verdict is out and the ROI is in – pay-at-the-table has been embraced by diners and restaurants everywhere. So, if you are a restaurant operator asking yourself, “Is pay-at-the-table the right technology for my restaurant?

Customer Experience 193

Customer Experience Fast Casual Customer Service Point of Sale 193

Apicbase

APRIL 13, 2023

Someone with project management skills, who is highly organised and knows how to calculate the ROI is needed to bring an implementation to fruition. The key to a successful tech implementation is threefold, says Brett: Get a good Project Lead New software is a huge business decision.

Leadership 52

Leadership Customer Service Training Management 52

The Restaurant Group

JANUARY 4, 2022

It considers idea uniqueness, demand and supply, location, investment amount, ROI, legal or technical factors (as applicable), and more. The second step is calculating your projected revenues and expenses to obtain a business plan. Don’t risk operating at a loss by doing your calculations.

Food Supply 78

Food Supply Customer Service Technology Supplies 78

Restaurant365

SEPTEMBER 25, 2019

The post ROI Calculator: See How Much You’ll Save with Restaurant365 appeared first on Restaurant365.

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Apicbase

NOVEMBER 4, 2022

The pandemic taught us that digital transformation of workflows can boost productivity and performance, affecting a business’s ROI. . Such results are typically seen in the first few months of adopting a digital solution, enabling fast and effective ROI. . 5 Key Areas For Faster ROI.

Loyalty Program 52

Loyalty Program Hospitality Point of Sale Allergens 52

Sling

APRIL 1, 2024

And, for more free resources to help you manage your business better, organize and schedule your team, and track and calculate labor costs, visit GetSling.com today. This content is for informational purposes and is not intended as legal, tax, HR, or any other professional advice.

2024 78

2024 Management Management Customer Service 78

Apicbase

APRIL 14, 2023

I’ll also share best practices for rapid adoption by your employees so that you can maximise ROI. CS will help you and your team to: implement Apicbase efficiently; generate buy-in throughout the company; maximise ROI. Meet The Apicbase Team Say hi! The people in charge of onboarding are part of our Customer Success team (CS).

Inventory 52

Inventory Technology Communication Take-out 52

The Restaurant Times

DECEMBER 5, 2020

To find out how much each dish costs, calculate the actual food cost percentage. If some menu items are affecting your overall ROI, lower the menu price, or eliminate those items altogether from your menu. Identify these from your POS system, calculate the actual making cost versus the revenue they are generating.

Menu 96

Menu Seasonal Menu POS Food Order 96

Lavu

APRIL 6, 2020

So, what type of menu changes can be positive on your ROI? The specials are calculated every time a purchase order is made, so the real problems tend to be the mainstay dishes that are available year-round. If some menu items are straining on your overall ROI, lowering the price or removing those items altogether may be a good idea.

Menu 78

Menu Dietary Restrictions Seasonal Menu Point of Sale 78

Apicbase

MARCH 3, 2023

Based on the recipe you set in the Menu Engineering module, Apicbase calculates how many ingredients were used to prepare that cheeseburger and depletes inventory accordingly. Apicbase will immediately calculate the cost and nutritional values per serving or for an entire menu. Example You just sold a cheeseburger.

Point of Sale 52

Point of Sale POS Management Management 52

Cheetah

DECEMBER 2, 2021

The Tip Pooling add-on makes creating and calculating tip pools easy, but automatically tipping-out will depend on your POS system. GraTrack says clients see ROI within 10 weeks by saving time on tedious error-prone daily bookkeeping. The system encourages fully digitized tipping, ensuring money is tracked and shared as agreed.

Cash Management 78

Cash Management Restaurant Law POS Employee Relations 78

Cheetah

DECEMBER 1, 2021

The Tip Pooling add-on makes creating and calculating tip pools easy, but automatically tipping-out will depend on your POS system. GraTrack says clients see ROI within 10 weeks by saving time on tedious error-prone daily bookkeeping. The system encourages fully digitized tipping, ensuring money is tracked and shared as agreed.

Cash Management 78

Cash Management Restaurant Law POS Employee Relations 78

The Restaurant Times

MAY 25, 2021

This involves a detailed analysis of why you plan to open a cafe, the expected ROI, targeted clientele, etc. Fixed Costs: Fixed costs must be calculated and included in your cafe business plan. You can analyze the total expenses and revenue projection to calculate your gross profit. Business Overview.

Cash Management 52

Cash Management Employee Relations Point of Sale Email Marketing 52

Cheetah

SEPTEMBER 9, 2019

Look into costs, regulations and other factors that might affect your ROI. Be as precise as possible in calculating your profit. Before signing up, consider whether your brand and cuisine fit in with the event’s theme and audience. Some festival organizers charge a flat fee or they require a percentage of revenue earned.

Food Truck 108

Food Truck Mobile Ordering Food Social Media 108

Cheetah

SEPTEMBER 9, 2019

Look into costs, regulations and other factors that might affect your ROI. Be as precise as possible in calculating your profit. Before signing up, consider whether your brand and cuisine fit in with the event’s theme and audience. Some festival organizers charge a flat fee or they require a percentage of revenue earned.

Food Truck 92

Food Truck Mobile Ordering Food Social Media 92

Restaurant365

APRIL 26, 2022

Check out Restaurant365’s free employee turnover calculator to determine how much turnover is costing your restaurant group.). While it can be difficult to document the exact ROI for professional development, avoiding turnover can pay dividends for your restaurant business. Develop a long-term employee strategy.

Hiring 78

Hiring Employee Relations Front of House Back of House 78

The Restaurant Times

SEPTEMBER 30, 2021

Users can do everything from curating cool content and scheduling posts to managing team members and calculating ROI with just one platform. Hootsuite is a social media management platform that covers nearly every aspect of the role of a social media manager. Google Business .

Social Media 59

Social Media Website Management Online Ordering Customer Service 59

Indoor Media

APRIL 20, 2018

Easy tracking and ROI reporting. This allows for easy evaluation of 1) exactly which leads can be attributed to inbound calls vs messaging and 2) a more specific calculation of how many leads are being generated from your ads overall.

Advertising 78

Advertising Small Business Customer Service Consumer Goods 78

Apicbase

SEPTEMBER 30, 2022

Modern restaurant management platforms can: automate complex calculations, process data from multiple sources (sales, inventory, labour), free up hard-working staff from repetitive tasks (that software can perform faster and more accurately anyway). This article covers 5 ways tech enables immediate cost savings for restaurants.

Technology 52

Technology Operations Inventory Food Order 52

Restaurant365

SEPTEMBER 30, 2019

Your AP team can leverage the time saved to complete other critical tasks, like reducing expenses or calculating business finances. You can take advantage of early payment discounts, or even facilitate monthly rebates for the usage of virtual cards, maximizing your ROI in accounts payable.

Audits 60

Audits Cash Management Mobile Ordering Point of Sale 60

The Restaurant Times

NOVEMBER 30, 2020

Evaluate cash flow for the first year and calculate the five-year-return to the franchise. By finding the right business partners, franchise owners can minimize risk and get better ROI while expanding their market share. There is always a risk of dilution of brand name if the franchise outlets do not perform well. Initial setup cost.

Franchise 52

Franchise Franchising Cash Management License 52

BNG Point of Sale

OCTOBER 13, 2021

It can even assist in calculating how many items to replenish in an order for the upcoming week in consideration of a fast-approaching holiday. Understand a Business’s Return on Investment (ROI). This may also reduce shrinkage. Yet, these features are only part of a POS system’s capabilities.

POS 52

POS Point of Sale Cash Management Loyalty Program 52

Aaron Allen & Associates

APRIL 2, 2021

It can also be hard for CCFs to right-size the opportunity — specifications about how early in the game they can invest may leave them out of big valuation jumps (taking a small sample of foodservice tech companies we calculated that on average, enterprise value grows $455 million per funding round). Industry Team Over Deal Team.

Food Truck 59

Food Truck Fast Casual Technology Back of House 59

Apicbase

APRIL 28, 2023

With an ROI of 700%, it’s an investment worth making. Not to mention that your food cost calculation immediately become useless, theoretical profit margins a wild guess, and there is zero chance of estimating the food cost variance, let alone closing the gap between theoretical and actual costs. A study by Champions 12.3

Waste 52

Waste Food Point of Sale Inventory 52

Open for Business

APRIL 25, 2023

Earned media value is a critical metric for any restaurant owner looking to understand their total marketing ROI. When they crunch the numbers on ROI, many restaurants see that earned media can be worth the investment. Done right, earned media can offer serious ROI for little to no cost. What is earned media value?

Social Media 78

Social Media SEO Email Marketing Influencer 78

Lavu

APRIL 1, 2020

Calculate drink costs, beyond the cost of liquor. Instagram is the new newspaper and has great ROI for advertisement fees, and it also gives you a platform to bring your concept to the internet. Food and Beverage Program: What will you serve, and how much will it cost? What’s your pricing strategy: industry-focused or customer-focused?

Bar 78

Bar License Social Media Point of Sale 78

Restaurant Clicks

JANUARY 20, 2020

Since a business plan is also used for investors, this section should sell the reader on why your restaurant is a good investment, a unique business that will succeed, and expected ROI. . Use a food cost calculator to ensure that menu items are properly priced. Typically, an executive summary is about one page long. .

License 78

License Customer Service Hiring Information 78

Aaron Allen & Associates

JULY 29, 2022

It can increase ROI by 4x over what a normal store would have. Restaurant robots are still costly, and though most companies are starting to make accurate risk-benefit calculations (based on labor savings and opportunity costs), they remain out of the budget for most independent restaurants. It serves as a personal assistant to staff.

Front of House 64

Front of House Back of House 2022 Kitchen Safety 64

Ordyx

DECEMBER 19, 2019

Properly-trained bartenders make fewer errors, so investing in staff training sessions can provide a valuable ROI. ​Under-ringing drinks not only contributes to increased variance costs, but it can also overwhelm even the most calculated inventory management systems. ​ II. ​ 3.

Bar 52

Bar Operations Point of Sale 2020 52

Apicbase

JUNE 15, 2023

Calculate the impact of your efforts Focus on sustainability initiatives that give the most bang for your buck. Being climate-positive yields great ROI Max spends 0.4% Max focuses on reducing beef consumption, which is responsible for 50% of their value chain carbon emissions. What activities are driving the most financial success?

Sustainability 52

Sustainability Consumer Goods Customer Service Waste 52

Apicbase

JUNE 16, 2023

The metrics and calculations in this list will help you bring order to the chaos and manage the performance of each unit in the chain. Level 1: Metrics Calculation as a Pulse Check At its most superficial level, metrics calculation provides a snapshot of a specific time and context, like a pulse check for a restaurant.

Point of Sale 52

Point of Sale Inventory Waste Employee Relations 52

Apicbase

APRIL 11, 2024

The recipes are thoroughly calculated and automatically include allergens, nutritional information, and, where needed, an official Nutri-score. The best software also calculates food costs and variance with accurate real-time data from across the business. Look at where software would have the most significant impact on your business.

Operations 52

Operations Back of House Allergens Front of House 52

Indoor Media

MARCH 11, 2021

Consequently, it’s much easier to calculate your return on investment (ROI) , especially if you’re carefully keeping track of how many coupons are redeemed. Why Use Coupons? As mentioned, by monitoring how many coupons your customers actually return against how many you sent out, you can easily measure your campaign’s success.

Coupons 148

Coupons Design Advertising Loyalty Program 148

Modern Restaurant Management

FEBRUARY 17, 2020

“National and multi-location brands are looking for sophisticated products to help them drive ad performance, demonstrate ROI on their campaigns, and better tell their story in an increasingly noisy digital landscape,” said Tom Foran, Yelp’s senior vice president of national sales. The new products have been piloted by ?Denny’s?

Sports 127

Sports Point of Sale Entertainment Customer Experience 127

Focus POS

DECEMBER 17, 2019

View our free e-book: How to Calculate Your Restaurant’s ROI from a POS Deployment. You can also use these to offer tableside ordering at your restaurant and streamline the ordering process, while allowing customers to pay at the table as soon as they are finished. Effective Labor Scheduling.

POS 162

POS Customer Service Technology Training 162

Restaurant365

JANUARY 2, 2020

Instead of pulling out a calculator or spreadsheet, your POS system can automatically collect restaurant analytics needed for forecasting. Calculate your restaurant’s daily capacity. Check out this handy restaurant ROI calculator and find out how much you could save with Restaurant365.

POS 97

POS Point of Sale Inventory Information 97