Identify restaurant growth opportunities with a good POS software

Restaurants that use a good POS software get regular data and analysis reports on various sales, marketing and stock aspects. 

This data can be used by managers and owners of restaurants to take business decisions that help  restaurants grow. 

Here are a few data and analysis variables that managers can extract from a restaurant POS software and use to identify growth opportunities for their restaurants. 

1. Bestsellers

Data on sales can help managers identify menu items that are preferred by customers during different time periods. With this knowledge, managers can order stock better and promote the right products at the right time. Managers can also package menu items complementing bestsellers in a combo, to increase customer basket size. 

2. Optimal prices

With the help of data, managers can understand customers’ price preferences better. With factual data, managers are able to assess the price elasticity of their menu items. This even helps them identify perennial menu items and seasonal or occasional items. With the help of such information, managers can price dishes and items better to maximize revenue. 

3. Busy and slow hours

With the help of sales data, it gets easier for managers and owners to assess how busy or slow certain hours go at a restaurant. With knowledge in this area, happy hours can be assigned optimally to attract the right customers at the right time, to maximize revenue. 

4. Optimal stock

Data about daily sales of each menu item helps managers to predict daily sales better. This enables them to order right quantities of ingredients to avoid wastage or shortage. Optimal stocking can contribute highly to increasing a restaurant’s overall profitability. 

5. Optimal on-floor staff

With the help of a restaurant POS software, one can determine the number of tables occupied at a restaurant at any given time. POS software also help analyze the efficiency with which each table is served. This data, when analysed over time, empowers managers with valuable information about how well their floor is staffed. This information can be used to add or remove staff members from different shifts. 

In this manner, data collection and analysis abilities of a restaurant POS software helps managers and owners to take business decisions that help in growth of their restaurant businesses.

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