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Top Restaurant POS Features To Look For In 2023

The Restaurant Times

A traditional point of sale (POS) used to be a restaurant billing software that processed orders and produced receipts. But as cloud technology developed, the basic POS system transformed into a full-fledged restaurant management system. This adds a layer of complexity to POS systems. Read along!

POS 59
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MRM Research Roundup: Year-End 2020 Edition

Modern Restaurant Management

Digital transformation accelerates forward as restaurants go virtual : Across both on- and off-premise experiences, technology played an integral role in powering safe options for customers. In addition to restaurants increasingly adopting technology, the popularity of ghost kitchens skyrocketed, increasing 60x in 2020 from 2019.

2020 199
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How to Avoid the Top Seven Restaurant Inventory Management Mistakes

Modern Restaurant Management

Integration between the POS and inventory management software allows inventory to be managed from end-to-end by automating steps such as tracking recipes, uploading invoices and auto-updating item prices. Restaurant-specific accounting technology automates the journal entry process.

Inventory 175
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The Impact of Restaurant Tablets on Table Turnover and Revenue

Mad Mobile

The pressure to adopt new technology in your restaurant is everywhere. In a study by the Wharton School , researchers found that using tabletop technology can improve sales by 9.74% and productivity by 10.77%. The use of technology expedites each part of their process. Dynamic pricing strategies are a hot topic in the industry.

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Restaurant Loyalty Programs to Boost Revenues

Cheetah

What’s more, advertising deals about non-core products, like restaurant merchandise and swag , boost alternative revenue streams. In 2017, for example, Starbucks collected 30% of their revenue via mobile payments on their Starbucks Rewards member’s app, which supports buying Starbucks merchandise anywhere.

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How to Open a Coffee Shop: The Ultimate Guide

7 Shifts

You may discover that your target customers enjoy an afternoon pick-me-up and are sensitive to price. This research will dictate your hours of operation and pricing plans! Expected menu prices. Make this calculation using the following formula: BEP =Fixed Costs / (Sales Price Per Unit - Variable Costs). Online Ordering.

License 461
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4 Proven Strategies Operators in Saudi Arabia Must Know To Grow Their Restaurant Profit Margin

The Restaurant Times

Gross Revenue is the sales revenue generated by selling food, beverages, and merchandise plus additional gains, i.e., income from a transaction that doesn’t come from regular business operations. Negotiate better prices with suppliers. Leverage Technology. Net Profit Margin = Net Income/Gross Sales x 100.