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OPERATORS’ GUIDE TO SKIPPING THE SUMMER SLOWDOWN
By Russ Spencer, Senior Director of Restaurant Success at Craftable
The temperature isn’t the only thing rising this season–so are opportunities to drive sales within your hospitality business. To ensure your bar or restaurant is set up for success, invest time and resources into the technology needed to secure historical, industry, and current data to make decisions that improve your overall bottom line. CURRENT MARKET SNAPSHOT Historically, operators have used year-over-year data to predict future sales, inventory, labor and more. This data can provide operators with a greater understanding and proactive approach to challenges that may arise. However, operations over the past few years have been anything but conventional due to the COVID pandemic and may not be relied upon to make these crucial predictions. It’s important to consider smaller data sets such as quarter over quarter, week over week, and day over day. Technology that can track data and provide further insight helps operators make the necessary decisions to improve their bottom lines. Operators should take into account the number of guests and tickets. Guest counts define the business’s market share, tickets define the number of party transactions, and sales define what happens with the market’s share. Understanding the traffic flow of guest counts and tickets helps operators schedule more efficiently, and understanding the product mix helps determine how to order and stock accordingly. Page 37 | Food & Beverage Magazine v June Issue 2023
