Make smarter decisions, reduce costs and manage your time more effectively – read our six handy hacks to help you get the most from the EPOS system in your restaurant.
The world of business is powered by data insights. Whether you’re a big operator or a small independent restaurant, managing this information correctly will help you rise above your competitors, increase your revenue and maximise your profit margins. And because nobody wants to spend their evenings crunching numbers, we’ve designed our EPOS systems to do the legwork for you. So read on to find out how you can use data to maximise your profits!
The price is right!
Over time you’ll begin to build a picture of how price fluctuations and promotions affect sales and profit. By being agile with your pricing strategy, you can really help your business succeed. The EPOS system tracks sales over time, so you can find the most attractive price point for your products and generate the most money. And for products that aren’t selling so well, try a promotional offer to increase their popularity.
Maximise your menu
The deep dive data that the EPOS system provides will help you tailor your menu to your customer’s desires. Your most reliable menu items will be clear straightaway, and you should use this information accordingly – consider advertising them in your restaurant or including them as part of a special promotion. Another category to address are your one-offs. These are items that rarely get re-ordered, and likely require some more thought. Your hidden gems are those items that are not ordered regularly, but once someone tries them, they become hooked! These are great items to run promotions and discounts on, to get people to try them. Finally, anything that isn’t ordered often or with any repeats should be removed from the menu.
Rock your rota
Your staff overhead is likely one of the biggest costs to your business. That’s why iZettle Pro, a flexible EPOS system for hospitality businesses, has a series of controls to help you stay on top of your staffing needs. You’ll be able to track when you’re overstaffed and receive alerts when your team is approaching an overtime threshold. Mapping staffing data to profits and projected sales means you can plan your rota week on week, safe in the knowledge you’ll always be prepared.This will help you evaluate everything in your restaurant, from portion sizes to menu choices and cooking techniques.
Go with the flow
Once you’ve been analysing your restaurant’s data for a while, you’ll definitely start to notice trends in your business – your busiest times of day, or how holidays and even the weather affect trade. You’ll even be able to spot surges in popularity of particular dishes or drinks. Armed with insights like these, you’ll be able to refine what you order from suppliers and better plan your staffing needs. All of which will save you money and boost your profit!
Smarter sales tactics
If you’re planning to create a new menu for your restaurant – perhaps a set of tailored cocktails or special wines – you can take a look over your EPOS data to see what people order in specific combinations. You can then use this to prepare waiting staff to recommend drinks pairings that will work well with menu items that sell well. Remember to repeat the previous steps to ensure the success of the new menu!
We hope you found these tips useful! For more insider knowledge to help you run your restaurant, be sure to download our free eBook now.