Multi-unit restaurant businesses have at least one inherent advantage over single unit operators: on a store level, they have access to detailed financial performance of other stores in their market – the other locations. Why is this an advantage? For at least three reasons:
- Driving Sales – Store managers can catch a vision of what is possible within their own company – with the brand they are working with. Comparing the top performing stores to the rest can be very inspiring for store managers.
- Exposing Excessive Spend on COGS – When kitchen managers are buying food for the same menu, it’s easy to look at the location side-by-side report to see variances between locations. Any difference will be easy to spot and identify what needs to be fixed.
- Labor Efficiency – Which manager is the best at scheduling? With a location side-by-side report, you will know who is keeping folks on too long or not having folks there early enough. It’s an easy calculation.
There is no question but that the Location Side-by-Side Prime Cost Report is a valuable tool for any multi-unit business. So valuable in fact, it’s almost worth opening up a second location in a similar area to where you are located now just to have the information to make your original location better.
Most companies are manually assembling this report or are not doing it at all because of the effort involved. With Restaurant365, the entire process is automated. Restaurant accounting software has never been easier to use. The benefits dramatically outweigh the minimal costs.
Morgan Harris | Co-founder | Restaurant365