Every company has a slow season, and it can be particularly rough for restaurants and pubs. To make it through the off-season, we are going to discuss some of the best ways to retain as much profit you can when business is slow.
Save on labor.
In the restaurant business, labour costs are an inevitable operational expensenonetheless, this cost is an adaptable supply of savings if handled effectively. POS software plays a substantial role when it comes to changing your labour costs, since it provides the controls necessary to track time, scheduling and attendance.
A handy little app made by Restaurant Manager called the RM Monitor gives you 5 min real time updates of your venues. The app goes into detail of how much you are making at any particular location. The monitoring built into RM Monitor lets you see labour costs, and the gain you are turning over for that hour. This feature allows you to know when labour hits over 30 percent of what is sold.
If you do not grab that 30% line, you can quickly begin losing money. Having a tool that allows you monitor your costs onto your phone, and lets you know to send someone home will save your company from losing profits.
Track employee skimming.
One of the amazing features of Restaurant Manager is the ability to keep track of your payroll. Your employees punch in and out with the system. Not only does this make the process of conducting payroll considerably more efficient, you’ll also lower the”additional 10 minutes” you give away to workers on a daily basis.
Let’s say you have 5 employees, each paid at $10/hour. Each worker gets to work at 8:05 am and leaves at 4:50pm, but writes 8:00am to 5:00pm their time card. You just gave away 15 minutes to every employee. Just how much does that cost you?
15 minutes X 5 workers = 75 minutes every day.
75 minutes per day X 5 days per week = 375 minutes per week/60 minutes per hour = 6.25 hours Weekly
6.25 hours per week X $10.00 per hour = $62.50 per week x 52 weeks per year = $3,250.00 annually
That is $3,250.00 per year you’re spending on time you’re not getting from your workers. Each worker is getting a $650.00 bonus each year, just for fudging the time sheet 15 minutes daily.
Eliminating this scenario reduces labour costs around 8.80% each year.
Saving on labour and viewing for time skimming can be achieved if you’ve got the perfect tools. Having a point-of-sale system that does all this is one of the best ways restaurants may save money during the slow seasons.
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