Whether you’ve got $5 in the bank or $500,000, everyone wants to save a buck or two, especially restaurant owners. And the potential loss of a lot of money and time spent is part of what makes the restaurant business so intimidating. But if you’re attentive, careful, and smart, your restaurant won’t become a food service fail. Plus, the following three crucial steps are sure to help.
Work Smarter, Not Harder with the Right POS System
Choosing the right point of sale system will not only help your restaurant run smoother by streamlining processes but in doing so, will also cut costs.
A modern POS system is multi-functional, meaning it can process payments, track labor and scheduling, and manage inventory. Spending one fee on a robust POS system cuts out the costs of separate equipment, manpower, and contracts. Some features of a modern, robust POS system like inventory management run inventory as often as you’d like. The more often inventory checks are completed, the on top of management and supply ordering you will be. In addition, frequent physical inventory checks also spot out food near expiration to be used first.
In addition, modern POS systems are cloud-based and help the front of the house communicate with the back. Each terminal of the system is connected so orders can be taken and sent electronically to the chefs who prepare the meals. Many modern POS system companies offer compatible mobile apps that allow restaurant owners to view reports and inventory from their cellphones at home.
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Although the right point of system will help ease these managerial tasks itself, taking the time to learn and train on the system and analyze the reports it will provide you.
Hire for Quality, Then Quantity
Businesses are often quick to let employees go when reducing employees is not always the most cost-effective solution to lower spending. In reality, what they should do is re-evaluate their hiring process.
Employee turnover can be costly, so it’s important to be sure of what to look for in an employee and conduct thorough interviews to ensure you hire the best quality addition to your team. On top of reducing turnover, hiring multiple employees at the same time eliminates the extra costs of repetitive or frequent trainings.
Now picking out the ideal candidate isn’t as easy as it sounds. Some qualities to look for in a restaurant employee in any position are: reliable organization and communication, composure, empathy, and attentiveness.
Remember employees, like hostesses, servers, and bartenders, are one of the most crucial aspects in earning profits for restaurants.
Save Cash by Helping the Environment
Restaurants beat, or lose depending on how you look at it, other commercial buildings in energy usage by using roughly two and a half times more energy per square foot. Just one deep fryer alone can cost restaurant owners more than $1,000 in energy bills a year.
However, there are countless ways you can save your restaurant money by lowering your energy usage and carbon footprint.
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A few simple ways are turning off lights in rooms when they are not in use and utilizing nice weather by opening windows instead of air conditioning. Try reducing paper usage by email receipts and switching any paper products to reusable products. A modern POS system can help here, too, by digitally completing inventory, scheduling, ordering, and more.
Though costly at first, invest in energy efficient appliances instead of the same old dishwasher that’s been at the restaurant since three owners ago. Energy efficient dishwashers, specifically, will lessen water usage and lower your bill. Your can also purchase energy saving refrigerators, ovens, and griddles. Or, start somewhere small like LED light bulbs, which use twenty-five to thirty percent less electricity and last eight to 25 times longer.
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Maintaining spending is an integral step in owning a profitable restaurant. Follow these suggestions to stay afloat.