I work for a Baseball team and higher prices are the norm. I aim for an 80 profit margin. Last year our cheese curd numbers where down due to a combo I implemented. Order a burger add a curd and soda for "x" amount. The cost was a lot more and we weren't making that much money on it. Would it be smart to get rid of the combos? I was thinking include a fry with every burger, dog, sandwich purchase and have the consumer pay extra for a soda? Hope I was able to portray this accurately for you.
You can always keep the combos but just add a cost that seems like a value-add price for the extra items. But I wouldn't do anything without a budget. All decisions should be made based on a budget.
So basically at the end of the day, if a person isnt selling 750k or more per year, they bought or started a job... Now, I dont sell at that level as of yet and im doing my darndest to continue increasing sales and keep an eye on budget, costs etc. But I didnt hear or catch any positive follow up w ideas to build a small place up to pull out of their limited situation or location via certain moves. Idk maybe I was expecting more..
Hey Frenchy - thanks for watching and for the comment. This tip is strictly the explanation of where to target the costs for your restaurant in three general categories and why a restaurant that makes less than $750k per year likely won't be able to hit the 15-20% profit margin. It's all about the numbers. My channel is full of videos that offer insight and solutions broken into small tips to help you set goals and grow your restaurant business. I'm happy to jump on a call with you to review your restaurant's numbers and discover the opportunities you have for growth. Find a time on my calendar that works for you here: dsp.coach/discovery-call-dsp. And be sure to check out my playlists for videos that can help you grow your restaurant.
I work for a Baseball team and higher prices are the norm. I aim for an 80 profit margin. Last year our cheese curd numbers where down due to a combo I implemented. Order a burger add a curd and soda for "x" amount. The cost was a lot more and we weren't making that much money on it. Would it be smart to get rid of the combos? I was thinking include a fry with every burger, dog, sandwich purchase and have the consumer pay extra for a soda? Hope I was able to portray this accurately for you.
You can always keep the combos but just add a cost that seems like a value-add price for the extra items. But I wouldn't do anything without a budget. All decisions should be made based on a budget.
So basically at the end of the day, if a person isnt selling 750k or more per year, they bought or started a job...
Now, I dont sell at that level as of yet and im doing my darndest to continue increasing sales and keep an eye on budget, costs etc. But I didnt hear or catch any positive follow up w ideas to build a small place up to pull out of their limited situation or location via certain moves. Idk maybe I was expecting more..
Hey Frenchy - thanks for watching and for the comment. This tip is strictly the explanation of where to target the costs for your restaurant in three general categories and why a restaurant that makes less than $750k per year likely won't be able to hit the 15-20% profit margin. It's all about the numbers. My channel is full of videos that offer insight and solutions broken into small tips to help you set goals and grow your restaurant business. I'm happy to jump on a call with you to review your restaurant's numbers and discover the opportunities you have for growth. Find a time on my calendar that works for you here: dsp.coach/discovery-call-dsp. And be sure to check out my playlists for videos that can help you grow your restaurant.