With so many cost factors in almost every aspect of the business, how do you cut down on expenses and save money for your restaurant? For the longest time, cost-saving strategies in the hospitality industry revolved around cutting down on expenses. However, with the introduction of such revolutionary technologies as the point of sale trends, you can use both technology and other traditional measures to maximize the amount of money you save in a restaurant setting. Some of the most effective money saving strategies include:
1. Automation of restaurant processes
You stand to save significantly, cut down on unnecessary overheads, and promote productivity within the restaurant by automating most processes. For instance, embracing the current point of sale trends helps reduce billing losses and ease the accounting. Automating social media, email and other forms of marketing also goes a long way in saving man-hours spent on this form of marketing. Most importantly, automation can help speed up bookings, and respond to customer queries around the clock though chat bots thus saving the long man hours you spend on messenger and reservations.
2. Apt inventory management
Did you know that the greatest losses in the hospitality industry often stem from poor inventory management? You, therefore, need to learn how to optimize the inventory and reduce wastage. For instance, while overstocking several products reduces the chances of running out of a menu item, it leads to spoilage and encourages theft as well as misuse.
Avoid this by embracing the current point of sale trends that alert you when you are about to run out of a product thereby ensuring that you only have enough of any given product. In effect, you minimize misuse and spoilage and also reduce the amount of your money tied up in inventory.
3. Trimming the menu and investing in re-usable utensils
When is the last time you checked your menu against periodic sales to identify best and worst sellers? Saving money in a restaurant setup should involve a regular revaluation of products on offer to identify worst sellers so as to trim them from the menu. Start with costly products that cannot be cross used with other menu items. This cost-cutting measure should also extend to the use of disposable utensils and tableware. Cut down these overheads by investing in reusable glass and silverware utensils.
4. Optimize energy use
There is so much you can do to save energy expense without compromising the restaurant operations. Run the dishwasher only when full. Resort to energy efficient light bulbs and electrical appliances in and out of the kitchen. These seemingly basic steps may go a long way in pulling energy down energy costs.
5. Train and involve the employees
Note that each of these strategies requires prompt implementation if they are to yield tangible savings. You, therefore, have to train the employees on how to interact with the different automation processes. Most importantly, consider involving them throughout the implementation process of the cost-saving measures and have them own the process if you are to avoid the often hurtful resistance.
Complementing traditional cost-saving measures with technological solutions serves to amplify the results. Optimize some of the key restaurant operations, scrap off the redundancies and loss contributors, and automate the rest. You should, however, remember to train the employees and involve them throughout the process if you how to achieve even more amplified results.