Restaurant Businesses are thriving around the world. However, only a certain percentage of them make it to the top. Have you wondered why? What different do they do to reach that level? How did a once-newborn business reach the pinnacle? Of course, the quality of food matters, but is that it? Is it enough for a restaurant to touch the sky? No. Their strategies, Restaurant Management Software, business environment, the attitude of staff, etc. are all that make a difference.
The hospitality industry has been among us for several decades and is expected to stick around and grow. Therefore, there are exponential opportunities for a restaurant to grow. You just need to know where you are lacking and what these top 10% of restaurants do that you don’t. Study their journey and implement whatever you can in your business.
This blog is all about the top 5 factors you underlook but can boost your business and make you one of the top 10% of restaurants making the most money.
Get a Suitable Restaurant Management Software
This is the most obvious and basic thing that successful businesses do but many businesses overlook it. To save a few bucks, several restaurants choose to work in silos which adds to their complexities instead. They do not realize how much of their potential is at stake if they work on disparate systems instead of Restaurant Management Software. It is recommended to choose a unified Restaurant Application that provides all the basic and advanced necessities on the same platform. Make sure your Hospitality Management System uses the same data center, so you don’t spend hours finding the relevant data. A unified system can do wonders for your business. Restaurants such as Hard Rock Cafe, KFC, Haldiram’s, Tokyo Sushi, etc. use a unified Restaurant Management Software called LS Retail, an extension to Microsoft Dynamics 365.
Investing in the Latest Technology
Implementing the latest technology is one of the most common things the top ten percent of successful businesses always consider. Since they must manage many tasks while cutting costs, they prefer automation. They installed a Restaurant Management System which updates automatically where no maintenance and upgrade is required by the team. Instead, everything is managed by a third-party service provider. For instance, KFC has implemented LS Retail which is a unified Restaurant Management Software providing a set of tools customized to target their needs. The upgrade and maintenance are managed by the implementation partner and the data security is taken care of by Microsoft Itself. Being hosted on Microsoft Cloud Azure, they do not have to worry about viruses, threats, and malware.
Contactless ordering and Billing
The contactless trend increased during COVID which encouraged contactless technology such as Point of Sale Software. Businesses such as Haldiram’s (with a net worth of $100 million) offer faster and more accurate services using this Restaurant Management Software. A POS is not just limited to taking orders and bills, but also managing their inventory, purchasing and supplier management, and managing customer loyalty. Many businesses don’t realize it, but it can help them in the long run, just like Haldiram’s.
Getting Accurate Insights
This is one of the most undervalued aspects of most businesses, but enterprises make full use of it. They rely on analytics tools such as Power BI, which collects customer interactions from all the touchpoints to turn them into actionable reports. These reports help them to make master strategies such as loyalty programs, deals, offers, coupons, changes in restaurant policies, etc. These insights also help in connecting with the customers emotionally; when you remind them what they ordered last time and how much they appreciated their feedback, the customer feels being cared for. This is when it becomes a great opportunity for restaurants to drive the most reliable promotion tactic i.e., word of mouth by their customer.
Empowering Staff with Devices
It is no shock that the hospitality industry faces the highest employee turnover rates. A successful business retains its staff and keeps them motivated. Giving them handheld devices connected with your Restaurant Management Software will save a lot of their time and keep them motivated. They can work to their full capacity and will have enough energy to greet each customer with enthusiasm.
There is a reason why some restaurants make it to the top 10% and the rest don’t. They just don’t ignore the underlooked aspects of the business. They get the best technology in their reach, utilize their data, avoid silos, invest in the right Restaurant Management Software, and so on.
Successful businesses such as KFC, Barbeque Nation, and GO Grill use Microsoft Restaurant ERP Software, which is also known as LS Retail. If you wish to implement LS Retail Software Solution, Contact Trident Information Systems, a Diamond LS Retail Partner and Gold D365 Partner.
