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Not part of any government bail-out plan? Didn’t think so, but increasing revenue may be easier than you thought. Here are what we think are some good approaches, along with links and materials to help get you started.
Introduce Online Ordering
Online Ordering is hot and a great way to generate more revenue. Average checks for an online order range from 5% - 25% higher than a phone in order. Implement suggestive selling and eliminate missed orders. Don't forget to market it for maximimum impact!
Start an Employee Contest
An employee contest can help increase the average check, target high-margin items, improve turns on slow moving items and raise employee morale.
Use Wireless Technology
Use of wireless tableside ordering and payment are great ways to sell an extra round of drinks, improve table turns through faster service, reduces order entry errors and reduces labor costs as fewer servers can handle more tables.
Start a Loyalty Program
Bring back regular customers and attract new customers resulting in increased revenue. Reward customers for patronizing your establishment.
Use Coupons or Promotions
Couponing and promotions are perfect for virtually any type of establishment. New customers have an incentive to try your establishment, and existing customers have another reason to come back.
Capture All Revenue Associated with Side Dishes or Modifiers
When selected entrees come with two side dishes “free” set your POS software to allow the entire list of side dishes to display, but not charge for the first two. If additional sides are ordered, the customer is charged the proper price. This ensures that restaurant is getting all the revenue that they should for the food served, and lessens chance of server giveaways.
Ensure You are GETTING the Revenue
Use video overlay capabilities to monitor whether or not bartenders and other staff ring up the item they actually serve. With the interfacing of Closed Circuit TV Cameras to your POS software, management can visually audit exactly what transpired. The actual receipt info is linked to the visual image from the cameras, and offers indisputable proof of the transaction.
Stop Paying Credit Card Processing Fees on Tips
Cut this cost to zero by deducting the fee before you make the tip payout. Credit card processing fees are charged on the total of the credit card transaction. Many restaurants pay their wait staff the full amount of the tip, but collect less than the full amount from the credit card processor.
Undertake Menu Engineering
By getting a solid understanding of which menu items provide the best margins you can focus promotions and specials on them to improve your bottom line. Menu engineering also allows you to see which items you should charge more for and which items you should remove from the menu completely.