Metasphere

OCTOBER 26, 2023

By leveraging automated pricing algorithms, hotels can adjust room rates in real-time based on demand, local events, and market trends. This dynamic pricing strategy not only maximizes revenue but also maintains the hotel's competitiveness within the market.

Guest Satisfaction 52

Guest Satisfaction Training Workshop Catering 52

Synergy Suite

OCTOBER 12, 2023

Analyze the gross profit margin to understand how efficiently you’re managing costs and pricing your menu items. Gross profit is a critical indicator of the core profitability of a restaurant’s menu items, reflecting how efficiently it manages costs and pricing.

Portion Control 52

Portion Control Pricing Accounting Procurement 52

The Restaurant Times

JUNE 28, 2021

However, even though you have no control over the prices of food, you can still adopt measures to control the food costs of your restaurant in the UAE. . Track And Manage Food Prices. Tracking food prices is a good practice for restaurateurs. Due to the high demand, suppliers often lower their prices.

Procurement 52

Procurement Pricing POS Systems Portion Control 52

Synergy Suite

NOVEMBER 30, 2023

They serve as a compass, guiding decisions on pricing strategies, menu development, and staffing levels, ultimately influencing the delicate balance between offering high-quality cuisine and ensuring the establishment’s profitability. For restaurant owners and managers, understanding and effectively managing prime costs are paramount.

Portion Control 52

Portion Control Scheduling Pricing Training 52

Revenue Hub

MARCH 26, 2024

This approach aims to prevent impromptu procurement, excessive staffing during low-demand periods, and insufficient staffing during high-demand seasons. Make Better Decisions Faster Democratized data enables swift responses to shifts in market conditions, demand, and guest preferences, fostering an environment of agility.

Guest Satisfaction 62

Guest Satisfaction Procurement Information Article 62

The Restaurant Times

JULY 23, 2020

With an in-house delivery system, restaurant businesses can hire a trained team of dedicated delivery staff and procure their own fleet of vehicles to deliver food parcels to customers. The restaurant has complete control over how to manage the operations of delivery services and train delivery staff. . Better Order Management.

Communication 91

Communication Training Pricing Procurement 91

The Restaurant Times

JULY 20, 2020

This metric helps in determining if the menu items have been priced correctly or the food cost is high. . By calculating CoGS periodically, cloud kitchens can procure inventory more accurately and take adequate measures to control the high inventory costs, identifying ways to minimize these costs. . Food Cost Percentage.

Pricing 90

Pricing Kitchen Operations Procurement Catering 90

The Restaurant Times

OCTOBER 5, 2020

Negotiate better prices with suppliers. You can either keep track of your most ordered food items and ask for discounts or procure raw materials directly from farmers or producers to avoid having to give middlemen and wholesalers’ their cut. Similarly, you can train your staff to multi-task. Try Decreasing Overheads.

POS Systems 52

POS Systems Portion Control Training Procurement 52

Synergy Suite

JUNE 27, 2023

The integration between inventory management and purchasing allows for seamless procurement of ingredients and supplies, automating the purchasing process based on inventory levels and pre-set reorder points. This information helps in making data-driven decisions regarding menu optimization, pricing strategies, and marketing campaigns.

POS Systems 52

POS Systems Scheduling Information Procurement 52

Synergy Suite

OCTOBER 26, 2023

Consequently, astute restaurateurs meticulously monitor and manage this percentage, seeking avenues to optimize ingredient costs, negotiate with suppliers, and fine-tune pricing strategies. Understanding these trends can help you make informed decisions about pricing, menu adjustments, and inventory management.

Pricing 52

Pricing Portion Control Communication Menu Planning 52

Synergy Suite

DECEMBER 14, 2023

Strategic procurement practices, such as negotiating favorable terms, bulk purchasing , and securing competitive prices, can positively impact inventory turnover ratio by minimizing the overall cost of goods sold (COGS). Continuously assess your suppliers based on factors such as reliability, quality, and pricing.

Menu Planning 52

Menu Planning Information Procurement Training 52

7 Shifts

AUGUST 20, 2021

If you plan to accommodate for the wage increases by making adjustments to your menu, there are subtle ways to introduce new prices that won't rub diners the wrong way. Consider how you're writing prices in your menu. Review your food costs and see if there's an opportunity to negotiate better prices with your suppliers.

Scheduling 78

Scheduling Budgeting Pricing POS Systems 78

Restaurant Engine

DECEMBER 9, 2020

If not, you’ll want to procure this before you open your catering business. How about your catering pricing structure? Train your staff specifically for catering. You might find that adding catering limits your restaurant’s capabilities, so be sure the tradeoff works for you. Do you have time for it? To Conclude.

Catering 113

Catering Server Scheduling Procurement 113

The Restaurant Times

JULY 24, 2020

Ideally, the food costs should constitute 30% to 40% of the selling price of an item. Staff Training. If your kitchen staff is not trained professionally to execute all these measures, your efforts to control portions can go in vain. Controlling the portion size plays a massive role in keeping food costs in check. Buying Right.

Portion Control 52

Portion Control Training Procurement Customer Service 52

Synergy Suite

MAY 16, 2023

Inventory management software provides features to manage vendor information, track vendor performance, and compare prices from different suppliers. Integration with purchasing systems ensures smooth coordination between inventory control and procurement processes. Budget Consider your budget when choosing your solution.

Definition 52

Definition POS Systems Vendor Management Scheduling 52

Les Roches

JANUARY 19, 2024

This addresses operating costs and initial expenses such as purchase prices if you’re thinking of buying a hotel. Every hotel plan should outline its sources of income, which usually comprise room revenue, food and beverage, and sometimes income from spa or banqueting services.

Marketing 52

Marketing Book Accounting Procurement 52

Modern Restaurant Management

DECEMBER 28, 2020

When others have pulled back, we kept innovating by adding new menu items (a new Porterhouse steak, Wagyu New York Strip), half priced bottles of South American wine, To-Go experience packages and more. Through better employee training in 2021, brands can make sure their five-star app isn’t ruined by a disjointed in-person experience.

Events 230

Events Sanitation Marketing Communication 230

The Restaurant Times

JANUARY 19, 2021

Complicated restaurant equipment may require additional training for your staff. One of the major dilemmas many restaurant owners face while procuring restaurant equipment is whether to purchase new equipment or go for second-hand. That is why you must choose only those pieces of equipment that your employees can use easily.

Maintenance 52

Maintenance Demo Customer Service Budgeting 52

Synergy Suite

JANUARY 12, 2024

By examining sales data, cost of goods sold (COGS), and other financial metrics, restaurant managers can identify trends, predict future revenue, and make informed decisions about pricing, cost control, and capital investment. It highlights the efficiency of a restaurant in managing its production and procurement costs relative to its sales.

POS Systems 52

POS Systems Information Pricing Accounting 52

Xotels Hotel Revenue Management

SEPTEMBER 1, 2020

At the core of any successful pre-opening phase are well thought through elements of product pricing and positioning such as: Room type strategy (e.g. Competitive positioning (how do you competitively price yourself in the market, evaluating your value-add and weighing it against your competitors). Staffing and Training.

Definition 52

Definition Marketing Budgeting Article 52

Modern Restaurant Management

MARCH 11, 2020

This edition of MRM News Bites features a double dose from US Foods, SpotOn Transact, DoorDash Kitchens, Virtual Restaurant Consulting, Tripleseat and Gather, wagamama, Toast, The Gluten Intolerance Group, Instawork and StaffMate Online, Procurant and Yellofin, Sift, 7shifts, ParTech, Revel Systems and Como, Kabbage, Bluecrew and Cuboh.

Procurement 154

Procurement Marketing Scheduling Events 154

Boutique Hotel News

APRIL 21, 2023

We are procuring renewable energy across the portfolio, whereby 100 per cent of our electricity is renewable. As prices fall there may be the feeling that less money is needed to be invested into decreasing expenditure (energy prices). It is the only way to ensure that sustainability initiatives are being upheld.

Travel and Tourism 246

Travel and Tourism Information Business Development Procurement 246

The Restaurant Times

MARCH 7, 2023

However, here are a few standard criteria required to run a Michelin Star restaurant: Quality of a product Strong management Attention to detail Quality-to-price ratio Adaptability Additionally, your restaurant must be located within the coverage area to receive a star from the Michelin Guide.

Front of House 52

Front of House Procurement Back of House Training 52

Modern Restaurant Management

JULY 7, 2020

and BurgerFi International entered into a definitive agreement at a $100 million purchase price to combine and form BurgerFi International, Inc. ’s stock price performance. Having 75 percent of employees trained in the ServSafe Food Handler courses and who have gone through the ServSafe COVID-19 Reopening training.

Accounting 192

Accounting POS Systems Information Sanitation 192

Modern Restaurant Management

MAY 27, 2020

Enhanced training, signage, and behavioral “nudges” Implementing health checks and temperature monitoring. Production of PPE through Aramark’s uniforms division and procurement of PPE. ” MenuDrive is not charging any installation fees or monthly fees; instead, restaurants are charged a fixed price of 4.5

L&D 176

L&D Sanitation Marketing Download 176

Modern Restaurant Management

SEPTEMBER 24, 2021

Located in a mixed retail area near the Rye train station with heavy foot traffic, the 1900-square-foot storefront has approximately 20 indoor seats and outdoor seating for 60. This location’s early success demonstrates how successful franchisees can be opening a gfg in a train station, airport, mall or campus.

Marketing 185

Marketing Download Training Multi-Unit Operations 185

Modern Restaurant Management

JUNE 19, 2020

” Features include: Ingredient Price Tracker — Monitor item price fluctuations to audit and avoid vendor discrepancies. Product Catalog — View and manage the details of all products the restaurant has purchased, including units of measurement, price, and quantity. Ecolab Science Certified Program. Ecolab Inc.

Sanitation 145

Sanitation Information Marketing Document 145

Modern Restaurant Management

JUNE 8, 2020

The interactive Roadmap features links and helpful videos, providing customers with a step-by-step guide that includes a Reopening Checklist, information on staff training, guidance for leveraging social media, suggested marketing and promotions tactics, and an approach for To-Go and Delivery programming strategies. on September 29, 2020.

Sanitation 154

Sanitation Information Marketing POS Systems 154