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Henry Pertman and Greg Remeikis on 7 Steps to Success in 2016 | Restaurant Association of Maryland


2/2/16

This article originally appears in Restaurant Association of Maryland's member newsletter.

by Henry Pertman and Greg Remeikis, CohnReznick

With the New Year underway, restaurant owners across Maryland are working hard to make a plan for their business to be profitable in 2016. To help you better prepare for success this year, here’s a list of the top 7 items owners should consider.

  1. Price Increases: When was the last time one was implemented? Was it across the board or only on specific menu items?
  2. Flash Reports: Data overload can be crippling. However, identifying five or six key metrics (prime cost, average check, table turn, etc.) that you should monitor on an ongoing basis can help you identify areas of success as well as those areas that you need to improve in the new year.
  3. Perfect Check: Have you trained your staff to aim for the” perfect check” (cocktail, appetizer, entrée, side, dinner drink, dessert, coffee)? Do you analyze the average check per server to identify those who may require additional training?
  4. Inventory Control: How often do you review your restaurant’s inventory? Who has access to food and beverage? Are the controls in place for inventory ordering? Do you maintain a waste and spoilage report? Have you reviewed your supplier contracts to determine if prices can be negotiated? Does someone check supplier deliveries for weight and quantity?
  5. Service: Does someone monitor customer complaints and social media posts? Is guest feedback then communicated back to the staff?
  6. Menu Engineering: Have you identified slow moving items and removed from the menu? Have you looked at portion control?
  7. Technology: Do you utilize staffing and reservation software to minimize your labor hours and maximize table optimization?
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