Restaurant Success Series CD
Successful restaurants are good at executing the fundamentals of solid business management, food cost control and menu management.
No matter how good the food and service is, restaurants never achieve their potential for profit without you'll never achieve your potential without mastering and consistently executing proper controls and procedures these important areas.
The Restaurant Success Series has given thousands of independent restaurant operators practical, proven ideas to improve their profitability and enhance their success. It will give you and your staff new insights and loads of practical ideas to improve your restaurant and business.
Each program comes with a series of workbooks that can be used for notes during the program and a plan of action for implementing specific practices and controls after the program.
On this one, information-packed CD, comes nearly 5 hours of knowledge-building programs every independent restaurant can benefit from.
Program 1 - Restaurant Numbers
What Every Operator Should Know About Managing the Financial Side of their Restaurant
Everyone knows that operating a restaurant is about serving food and taking care of customers, but a restaurant is also a business. Success in this business is not just measured in terms of smiling, satisfied customers but also in the cold, hard realities of facts, figures and finances. There is a big difference between running a restaurant and managing successful a business.
This program gives restaurant owners and managers practical, common-sense guidance that's essential in managing the financial or business side of their restaurant. In an understandable, jargon-free approach, you'll learn practical, easy-to-implement systems and techniques. You'll get the knowledge you need to effectively manage this critical aspect of creating and sustaining a financially viable business.
Part 1: Introduction (view this program)
Time: 23 minutes
- The difference between "running a restaurant" and "building a business"
- The best way to quickly and accurately assess the profit potential of any restaurant
- The critical "check points" on any restaurant's P&L and what they reveal
- How to size up your restaurant's financial performance
- How to use a "restaurant industry standard" format to present and report your financial information
- How to evaluate and compare your prime cost, occupancy expenses and profit margins to other independent restaurants
Part 2: Getting the Most Out of Your Financial Information
Time: 25 minutes
- Practical ways to get more value out of your P&L
- Understanding what your accountant does and how to keep them on their toes
- The benefits of using the National Restaurant Association's "Uniform System of Accounts for Restaurants"
- The best way to format restaurant financial projects in loan and financial packages
- How to reduce the time it takes to conduct physical inventories
- Why many successful restaurants inventory more than just food and beverages
- Why many restaurants use a 28 day accounting period, not a monthly one
Part 3: Cash Flow Competence
Time: 24 minutes
- How to understand and read your balance sheet
- What your profit and loss statement doesn't tell you about your business that you need to know
- The difference between profit and cash
- Understanding the important relationships between your P&L, balance sheet and check book
- Why even "profitable" restaurants can and often do have cash flow problems
- How to anticipate cash shortfalls and not be "surprised"
- Effective and creative ways to prevent cash flow challenges from becoming major problems
Part 4: Key Industry Averages: How Does Your Restaurant Stack Up?
Time: 26 minutes
- How a key balance sheet ratio, the current ratio, can be very different for restaurants than other businesses & why you may need to explain this to your banker
- Industry guidelines to quickly identify excess food, liquor, beer and wine in inventory
- How to use the "Sales to Investment" ratio to evaluate expansion decisions
- The economic differences between "leasing" a facility and "purchasing" the land & building
- A systematic way to estimate sales volume in a proposed restaurant
- Why restaurants with high food costs can still be extremely profitable
- Industry averages for liquor, beer, wine, paper and payroll costs
Part 5: Financial Best Practices
Time: 28 minutes
- Financial and profit enhancing insights used by the most profitable restaurateurs in the business
- How to improve your cash management skills and reduce the likelihood you'll get caught scrambling for funds when mandatory tax and other payments are due
- For financial information to be useful it's got to be current. Simple ideas for getting your financial statements in your hands quicker
- An easy method for getting your cost of sales and labor costs each week. With this report your prime costs will go down - GUARANTEED
- How sharp operators use the break-even approach for staying on top of their restaurants' profit performance.
- A quick, uncomplicated way to calculate the break-even and profitability of any restaurant
Program 2 - Food Cost Fitness
How to Trim Your Waste, Pump Up Your Profit and Please Your Guests
Food cost is the single biggest cost in many restaurants and it's also the most volatile operating expense you've got. There are just many, many ways to lose money working with food. Even though sophisticated food management tools are common, the fact remains that most restaurants lose money, and in many cases "lots" of money due to poor food handling practices and controls.
This practical, real-world program provides a comprehensive approach to understanding, managing and controlling your entire food production process. You and your people will learn where your restaurant is most vulnerable to food cost losses and how to take immediate and effective action.
Part 1: What Every Restaurant Pro Should Know About Food Cost
Time: 15 minutes
- Why it's easy (and very expensive) to have a food cost problem
- The factors that really determine your restaurant's food cost
- The 20 most common ways restaurants lose money dealing with food
- The important difference between food cost "dollars" and "percent"
- The most effective approaches to lowering your food cost
Part 2: The Most Powerful Food Cost Controls of All Time
Time: 20 minutes
- The major factors that drive your food cost
- Problems associated with carrying too much food in inventory
- How to evaluate your inventory levels quickly
- Why some suppliers love "quantity discounts" and why you should avoid them
- Why lower inventory levels means higher margins and better food quality
- An easy way to know your food cost weekly and why it will lower your food cost
- The advantages of keeping a running inventory on key products and how to do it
- How to reduce employee theft immediately
Part 3: Profitable Purchasing Practices
Time: 18 minutes
- Why every restaurant needs detailed product specs
- How competitive bidding usually results in "higher" overall prices
- The advantages of a prime vendor arrangement and how to establish one the "right" way
- Important factors to consider other than price
- How to reduce the likelihood of your people receiving supplier "kickbacks"
- Why you lose money if you don't use purchase orders & how to implement a simple, but effective, PO system
Part 4: Receiving & Storage
Time: 17 minutes
- The ideal person to perform the receiving functions
- How to put a stop to theft from non-employees
- Prevent losses from "short weights"
- Procedures to streamline and control your delivery & receiving functions
- Storage techniques to reduce losses from theft, spoilage and waste
- Tips to improve product rotation procedures
- Specific employees to "always" keep out of your storage areas
Part 5: Profitable Preparation Practices
Time: 23 minutes
- Why every restaurant needs standard recipes & how to create them
- What employee nibbling can cost you and how to reduce it
- Ways to improve portion controls
- The benefits of serving "hot" food "HOT" and how to do it
- Effects of sanitation and handling practices on shelf life, food quality and food cost
- Creative & proven ways to reduce preparation & improve product utilization
Part 6: Serving & Settlement Controls
Time: 24 minutes
- Animated overview of the restaurant sales transaction
- How restaurants lose cash in serving & settlement functions
- How to tighten up your cash controls
- Cash controls to identify and reduce theft
- Controls and operating advantages you should always get with a point of sale system
- How to conduct "surprise cash counts"
- When to use "spotters"
Program 3 - Building Menu Muscle
How to Make the Most of Any Menu
The menu is an operator's blueprint for profit. It determines a restaurant's image, defines the concept and is the shopping list guests use to make their buying decisions and spend their money. It can be their best (or worst) sales and even profit generator. The menu does not produce a profit, but properly designed and presented, it can help increase the sales that do! It is the cornerstone of having a profitable restaurant and the centerpiece of the guests' dining experience.
This program will give you a host of specific, proven strategies and techniques to enhance the value, effectiveness and profit-making potential of any menu.
Part 1: Menu Format & Design Techniques
Time: 23 minutes
- Ways your menu can help you increase sales & profit
- The preferred menu format in today's full service restaurants
- Menu design and positioning techniques to enhance the sales of your signature and "prime" menu items
- The smartest ways to arrange the layout of a menu to direct attention to specific dishes
- How to determine your "prime" menu items, the one's you really want your customers to buy
- Examples of positioning & graphic techniques
Part 2: Menu Copy & Pricing Strategies
Time: 23 minutes
- The best colors & fonts to use
- Smart pricing strategies that will improve profit immediately
- How to determine if you've got too many menu items
- The advantages of incorporating branded products into your menu
- How to write more effective, compelling menu copy to create positive mental images and influence selection rates
- Why your menu should be your best sales tool, not your servers
- Ideas for improving kid's menus
- How to sell more desserts