• How To Accelerate Your Profit by Tweaking Your Food Costs. – Part Two

    This post is part two of a two-part series aimed at helping you understand how important food costs are to the profitability of your business. -And how to accelerate your profit by tweaking your food cost. As you would have seen in part one, food costs make up around one third of your business costs. For this reason, even a tiny saving in food costs can have a massive impact on your profit. In part one I showed you how just a 10% reduction in food costs could increase profit by up to 70%. While the variables will change from business to business, this example does show you why reducing…

  • How To Accelerate Your Profit by Tweaking Your Food Costs. – Part One

    I’m sure I won’t be telling you anything new by saying food costs are important. But do you know quite how bloody critical they are to your business, and how big of an impact a tiny saving in food costs can have on your profit? Did you know that just a 10% reduction in your food costs could increase your profit by up to 70%!! Food costs represent about 30% of your business costs, so managing your food expenditure closely can often be the difference between success and failure in the restaurant game. Today’s post is part one of a two part series focusing on food costs.   It will…

  • Understanding the Core Principles of Hospitality Business.

    There are plenty of factors which may cause a restaurant or café business to fail, especially under the pressure of a global pandemic and it’s resulting lockdowns. While Covid 19 has been the ruin of a number of successful hospitality businesses all over the world, the truth is, a hospitality business’s demise will almost always be rooted in its failure to deliver on one or more core principles. The core principles are the foundations upon which a hospitality business’s success are built.  They’re the ‘non-negotiables’ that have to be well executed in order for an eatery to thrive. Often, a business can get by without adhering to the core principles;…

  • Creating a Positive Outcome From a Negative Customer Experience.

    Why a customer service failing is an opportunity for your business. We all screw up from time to time. Staff screw up, you as the owner screw up, and even customers screw up. Mistakes happen; it’s a simple fact of life, but what’s important is making sure the same mistake doesn’t happen twice, to learn from it, and wherever possible turn a negative customer experience into an opportunity. It’s an opportunity to learn, it’s an opportunity to train and most importantly it’s an opportunity to turn any negative customer experience into an amazing customer service experience. The sort of customer experience that they’ll tell their friends about, and turn them…

  • Want To Increase Your Revenue? – The foundations that support turnover.

    Everyone could do with a little more turnover right? Especially right now as we all battle against a soft market. The idea behind increasing turnover is pretty straightforward; you can sell more stuff, and/ or you can sell stuff for a higher price. This sounds simple enough, but as you know, selling more stuff and selling at a higher price is much easier said than done. In order to sell more, and sell it at a premium price, you really need to understand the foundations that support turnover. And make sure these foundations are right in your business. When you boil it right down, turnover is based entirely on awareness…

  • It’s Not Time to Celebrate Just Yet! – How to bed-down your new restaurant.

    You’ve just opened your brand new restaurant; perhaps it’s your very first, maybe you’ve expanded to a second site, or maybe you’re adding another to your empire. Regardless, don’t go popping the celebratory champagne cork just yet (well maybe just one), there’s still a lot of work left to do.  No matter how many times you’ve done it; opening a new site is a significant milestone. And all of that design, construction, staging and procurement will no doubt have been a massive project. But guess what, that was the easy part! The hard part is bedding it down and turning that beautiful fit out into a profitable, high performing business. …

  • Stop Giving Away Your Profits – It’s costing you more than you think!

    For every dollar you give away, or throw away, you have to put three in the till. That means every time you comp a meal you have to sell another three to cover that cost. And, for every dollar of food waste, you have to sell three dollars worth of food. So, by the time we’ve given away five staff meals, unnecessarily wasted the equivalent four meals and given away half a dozen coffees; we’ve got to sell 30 odd meals, just to get us back to zero. But wait there’s more . . . Put another way; if we give away one meal, we’re effectively giving away four meals.…

  • The Importance of Hiring Only Great and Talented Staff

    Great and talented staff create the soul of your business, they’re the X-factor which brings your restaurant to life. These ‘service junkies’ get a high from their positive interaction with customers and start every service excited about getting their next ‘hit’. As we emerge into a post-Covid world, things like social distancing and face masks can really challenge the customer experience. For this reason, more than ever, we need to ensure we’re delivering amazing customer service; and that starts by employing the right staff. But, good staff are incredibly hard to find and sometimes we feel like we have no choice but to hire the first warm body which replies…

  • Six Reasons Why You Should Simplify Your Menu

    What if I told you, you could increase your customer count, improve your customer experience, streamline your kitchen operation, reduce labour costs, reduce your training costs AND, increase your profits by doing just one thing? That really would be something to take a look at! When it comes to menus, less is usually more; and, now more than ever the most profitable menus are going to be those orientated around brevity.  I’ve written previously about the importance of taking a strategic approach to your menu design, but today I’m going to talk you through six reasons why a short menu will be more profitable for your business. And to help…

  • The Number One Profit Building Strategy

    A yacht race is seldom won by simply having a faster boat or doing one thing really well. Yacht races are won by trimming the sails just right for the breeze at that moment, catching a wave to add a bit of speed and constantly moving your crew weight to suit the wind. Meter by meter each one of these things buys you tiny little gains over your competitors. And when done right, they collectively help you win the race. In this case, yacht racing serves as a bit of a metaphor for business, and in particular, the business of hospitality. – It’s the collection of a small number of…