Before thinking about cooking, before thinking about arranging the tables you must be aware of the numbers your restaurant generates. Next time you're planning an event at your venue, look around and think about how many people will be coming. Consider what they will need food-wise before you start setting the tables or cooking anything - numbers can be really important!
If you are an entrepreneur/waiter or entrepreneur/cook/chef of your own business, you will have addressed this topic in front of a potential buyer or towards the end of the year in budget time. It is important that you are able to best manage every activity in your business so as to provide it with the right value.
If you want to make your place stand out and give it the value it needs, it is important that every entrepreneur or manager of any kind really thinks about how to do it. It might seem like such a simple task at first, but there are ways someone with an idea could take their company from good to great by changing just one small thing
1) set reasonable goals; 2) understand what customers will pay before asking them if it is worth less than expected 3). Make sure all project costs have been accounted for 4), create incentives for staff members
You can avoid asking another person to tell you how your business is going and be the master in everything. However you need to know some numbers if you really want to be of value and to improve.
What value does your place have?
What value does your place have?
There are indicators that really make you understand in which direction you are going, whether you are doing well, or whether you are making a bad choice. The value of your venue is dictated by a series of factors. What are they?
What makes a restaurant valuable in today's economy? The answer might seem like common knowledge, but in reality there are many factors that go into determining its value. If you're looking to buy or sell your business and want opinions from people who know what they're doing, here's an article with some important points
1) Location - A good location near public transportation can help avoid gas prices and at the same time give customers plenty of proximity when hunger strikes; 2). Inventory/Operations - Owners must maintain a reliable supply chain so salads don't go bad before dinner time arrives; 3); Branding / Reputation.
This is exactly the problem, all the big entrepreneurs in the restaurant sector don't really take this into consideration. For the mythological figure of the entrepreneur/chef it is art, pure poetry, a beautiful melody... instead for the figure of the entrepreneur/waiter it is a question of service, making the customer feel at home, creating a family environment worthy of the slogan "welcome to home sweet home".
How do you prevent disasters of cataclysmic proportions if you don't even know where to start?? well be careful, very careful, these are very fine concepts, which you won't find in any business management course, but if applied, they have the ability to change the fate of your little world and above all to give you that much-needed serenity at work. Ok, ready to go.
What are the most important costs your restaurant is facing??”
Let's look at a series of possible answers together:
- The employees
- The rent
- The mortgage
- Taxes
If you control and focus only on these things, it will never work because they will always have control over you and sooner or later their pressure will be so strong that it will crush you like a dry gnat.
One of the performance indicators you cannot ignore is the cost of acquiring each customer.
If you don't know how much each person who enters your restaurant costs, it's a bit like playing blind man's buff.The trick is to know the amount and then invest money in it in order to get as many people as you want.
Your ship will always be at the mercy of the waves, until it too turns over and kicks you.
The beautiful thing is that we can change this situation by shifting our attention to what is truly important.
Obviously, you have to take everything in the right way, because after ten years I cannot expect that the cost per customer is always the same, the market changes, updates and evolves, each customer has its own life cycle (understood as a customer not as a human being), but the fundamental concept is the one described above.
The context in which we live has led us to have this wrong mental attitude towards work. Considering the costs only as something negative and perhaps not as an opportunity. By focusing our attention on these aspects we can take back the helm.