The restaurant business can be a money hole if you allow it. Keeping a checked and balanced budget for your restaurant is essential if you wish for it to thrive. From software systems to tracking food consumption, there are so many areas that restaurant owners need to focus on and save money. Here are three ways that you can stay on budget without scrimping on the important things.
POS System Software
POS System Software, otherwise known as Point of Sale software, is something that most restaurants have in one form or another. They are the machines that restaurants use to record data such as food orders. After recording this data, the machine usually pulls up an invoice and prints a receipt for the customer. At the end of the day, all of the orders can be downloaded and printed off for the use of keeping good budgeting records. Find a good POS system that offers both modern technology and simplicity for your employees. Systems that offer programmable buttons are easy to use.
Don’t Over Hire Your Employee Force
Another thing to look out for in a restaurant when trying to stay in budget is hiring. Hiring too many employees can really hurt your business, contrary to popular belief that the more workers you have, the more money you make. If you hire more than enough people, you will most likely be paying for some people to just stand around. That is a waste of money.
Hire just enough people to get the job done. You can test this out by hiring what you think is the minimum amount of employee for your restaurant. If your employees seem too stressed out and you have spots to fill, then hire a few more people until you think everything is running smoothly. Your employees will tell you if they need more help. If they don’t, just observe them. Also, take a survey on customer satisfaction. The more satisfied customers will tip higher, thus creating more profit for the restaurant.
Know How Much Food Your Customers Consume
There is nothing like ordering too much food to make your restaurant business skyrocket. Take the time to do an inventory every week, if not every day, of your food. Keep a spreadsheet of the amount of money that you spend on your food and adjust if you are not making enough profit from the meals that you are selling. Also, make sure that the produce and perishable foods you are buying are always as fresh as possible.
Check the dates of these items. You can lose a lot of money on food that goes bad. If you notice that your seller is giving you food that is too near the expiration dates, then make sure you make them aware of this, or offer them half price for the food that you will use up more quickly. Not only will this save your business money, but it will also keep your customers safe.
Saving money and budgeting is the forefront of running a successful restaurant. Without it, you wouldn’t make any type of profit and would probably be unhappy after a while. Take the time to invest in a POS system, don’t over hire your employees, and know how much food your customers are consuming. All of these tips will help keep you on the budget in no time.