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Blog at Chefify

Maximising Your 
Restaurant Profitability

May 13 2019 - 10:53am
You may be more of a creative than a numbers person – or perhaps you love the cut and thrust of the cash flow; either way every restaurant owner knows that profit is crucial to survival. Whether your turnover has seen better days, or you’re looking for income to drive growth, there are many different ways to maximise the profitability of your restaurant.

Better marketing

Great restaurant marketing will bring new customers through the doors and entice old customers back. If you’re keen to boost profits and drive up turnover then investing in marketing is a great move. From adverts and social media marketing, through to professional photography and getting involved in local events, there are lots of different ways to increase your marketing efforts – and boost profits as a result.

Incorporate technology

An up front investment in technology, such as automated order processing, can have a big impact on profits. It will enable you to save time and labour, which can have a positive effect on the bottom line.

Cutting costs

If you can reduce what you spend then that leaves more of what you make as profit – it’s an equation that makes a lot of sense. Before you start scaling back, it’s important to have a deep understanding of your operational costs – what is essential and what could you potentially do without? Remember that cost cutting that results in a drop in service and customer experience is usually a false economy. You need to be more creative than simply reducing portion sizes or using noticeably cheaper ingredients, instead consider reviewing suppliers and seeing what high-quality local produce is available at a lower price.

Know your customer

It’s so easy to waste money and effort catering to a demographic that’s far removed from your actual customer base. Spend some time getting to know your customers, whether via surveys and social media polls or just speaking to them in the restaurant. The insight you gain from the process will show you where to direct your resources to get the best return on your investment. It will also show you where you can increase the profitability of your restaurant, whether that’s expanding the dessert menu or offering more vegan options.

Try a takeaway menu

Takeaway options leave the tables in your restaurant free while still generating income from prepared food and can work really well if your kitchen can handle the orders. You can generate more revenue this way, as well as expanding your customer base.

See how to keep your staff motivated as efficient staff will increase your restaurant efficiency and in turn restaurant profitability.

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