Specials vs. Features… and other things to make more money.
The restaurant business is a simple business where you make money selling food and drink. However, this process of making money can be done randomly or can be done strategically. We feel that the latter is the way to do it! This episode breaks down some ways to strategically do just that.
What gets measured gets managed. Operators that don’t know where they are, are Operators that aren’t maximizing profits. Knowing your current food cost and gross profit numbers for your menu is the first step to understanding the profitability of your menu and where you can make improvements and avoid places that are sucking up your profits. Just like getting into your car to go to a destination… You have to know where you start (current menu) and you have to know where you want to go (Improved menu).
CATAGROY MENU QUESTIONAIRRE:
Start with sections of your menu and answer the questions. This will give you a great way to assess where your current menu is and what you need to do to improve and make more money.
Weekly Specials vs. Weekend features:
Specials are typically designed to drive traffic while Features should make MORE money. Knowing your average GP per plate in category will allow you to design items that will always be higher profit moving your bottom line numbers UP!
Options on Weekly Specials (Not everyone wants the special) – attached excel worksheet
• Wing night example – See attached
• Offering boneless wings
• Offering naked tenders (sinless)
• Offering breaded shrimp
• Offering Deep fried Pierogis in Wing sauces
Working with the attached worksheet will allow you to look at other offerings on your specials to drive profits.
95 v. 99 on menu:
Moving your menu prices away from .95 cents doesn’t seem like a big deal, but if you take a week worth of sales by item and multiple it by .04 and then by 52 weeks, you will see this small move could make BIG Money.
Drinks – Don’t list soft drink prices on your menu:
Anthony has two great real-life examples in the episode about how he created BIG TIME increases to operators’ menus by changing coffee prices and the Soft Drink pricing. Benchmark your current pricing versus your competition. You may be surprised how behind you are in this pricing. Offering unique beverage offerings that your customer can not find elsewhere can also be a great way to gain profits. It is also recommended to spot check how many tickets don’t have beverages ran in. This could be common with your wait staff as they may not be ringing in all beverages because they are either lazy or are trying to “Help” the customer in order to gain larger tips.