Expand Your Restaurant Business with Technology and financial applications

Samuel Dorsi - Apr 29, 2013
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Nowadays, everyone has awe for attractive new electronic devices. With the launch of any new technological device, people queue up even if the latest innovation has just minute advanced features than its predecessors. The general belief prevailing is that all new devices are good, but are they really good to expand your business? Here are some common strategies that you can use to expand your restaurant business with the help of technology.

If you want to increase your sales in the same store:

You must first find out if your business is well equipped to handle sudden increase in sales and take care of processing orders really fast. You must see that your staff does not have to unnecessary wait for POS or credit card terminal and put customers on hold for hours. These are the catch points where you can speed up.

You can introduce integrated credit card processing, telephone order booking system with prompt and efficient door delivery. This will definitely increase your business and the amount of customers who do not come due to long waits and busy signals.

If you want to increase your business, you must analyze, comprehend, and make detailed analysis of the working procedures, what to offer, how to offer and then implement it to increase traffic.

Another mode of increasing your same store sales is by offering more channels like online booking or mobile booking. Restaurants generally get more business by this method as customers can conveniently view the entire list of menus, discuss, talk and then place order at their own time via phone or computer.

You can also increase your sales by adding various services to your present business like delivery service. But for this, you must be prepared to handle the changes. You will have to expand your staff and take in to account all the issues and complications that arise due to this and manage it efficiently.

If you want to increase your profit graph:

Of course, your happiness will be double folded if you can increase your profits along with increase in sales. Here, you can use technology and implement inventions like inventory tracking software to track big or small items.

You can also use labor management tools and financial applications by Workday to cut costs and increase and track your profit margins. Obviously technology tools can give you returns but it comes with a price and here you have to be very sharp and keep a check on the costs versus profits. You must upgrade and implement these new techniques once in four or five years or whenever you feel like.

If you want to increase your customers:

Tracking new customers and reaching out to them can definitely increase your business. You must implement new techniques like offering catering services for local organizations like schools or companies or you can give incentives or reward anyone who recommends you. You must also take active part in community organization and host fund-raising campaigns where part of monthly sales is donated. These kinds of investments will definitely give you big returns.

You must plan out a detailed customer nurturing program where you can keep a record of all your customers and try out ways and means to keep in touch with them. You must communicate with them on regular basis, reward them intermittently and ask for reviews or their feedbacks. You can apply technologies here for example use software programs to collect data of customers or use email marketing, online marketing, surveys, bonuses, rewards, loyalty programs and other marketing strategies that will help you retain your customers.

If you want to establish a chain of your business:

If you want to have a chain of your restaurants, you cannot be physically present at all outlets and keep a track of the operations. Here, technologies can prove to be a boon. You can use right technology like security, surveillance, cash management, billing, etc. so that you can remotely control all major aspects without being physically present. Make use of latest tools that will help you access the system.

As your business grows and you have more than three outlets, you can use enterprise-based technologies. This will eventually give you big returns and it will prove to be a very beneficial investment. Invest in enterprising management tools to manage, analyze, collect, consolidate data of individual outlets.

Do you want to expand via franchising?

If you want to expand your business via franchise concept then you must make a branded image. Here technologies can play a vital role in your success. With strong marketing strategies, rewards, incentives, keen understanding of the demographics of the area and the taste of the customers and strong social contacts can obviously reinforce your brand.

Once you have developed the franchisees, you must learn skill to retain them and keep consistency in your method of working with centralizing branding and menu management. With online ordering facility, managing everything centrally has become even more important. Centralized system helps you to maintain accounts of all chains. Moreover, it helps you to implement your marketing strategies from one place and satisfy your customers from all organizations.

In a nutshell, at every stage of expansion of your restaurant, you can adopt, use, and implement the right type of technology and enjoy the outcome of it.

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