The Restaurant Brokers are known and respected as the best business brokerage firm specializing in selling, buying and leasing of restaurants, bars and related entities in the Phoenix Metropolitan Area. Buying or selling a business is a big decision, one which requires careful consideration and is best made with the confidence of knowing that you have the advantage of a resource with extensive industry expertise. No one can provide better information, insight and direction in the process of buying or selling a restaurant. For more information on the The Restaurant Brokers please visit their website. Therestaurantbrokers.com.
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While no one can compel people to spend more in your restaurant, there is always room to tweak the other side of the profit equation: expenses. Even if you think you are done with belt tightening, you might find a good idea among the 10 in this two-part series. Here are the first five:
1. Rethink equipment and layout.
“Food costs change; guest palates change. Operations are not something you set up once and leave for 10 years. Review your equipment and update as necessary for efficiency. Walking through the steps needed to make each dish can help you figure out a way to streamline the time, which boosts productivity. It also makes sense to prepare the best-selling items closer to the pickup window to reduce steps/motions.
2. Find out the real cost of credit cards.
Heartland Payment Systems helps restaurants evaluate one especially thorny expense category: credit card processing fees. Heartland suggests owners contact their processor and get the company to walk through a statement and explain all the fees. If they won’t do it, find another processor,” he advises.
3. Look at alternate energy sources.
Green operational practices not only appeal to many restaurant customers, they also can help trim utility costs. Besides trimming the restaurant’s energy costs and offering a edge against future increases, plus federal and state rebates.
4. Streamline the menu.
This is a basic restaurant management task, but one that often gets overlooked: Do you have the right mix of items on your menu? Right meaning a mix that most efficiently uses your space, inventory and labor force. Some menus offer a lot of choices, but are there things not moving or outdated. Take time to refresh your menu.
5. Hire someone to eyeball bills.
Even if an owner has the time to scrutinize every bill that comes across their desk, who how time to comparison shop for services? Consider hiring someone that specialize in sifting through service bills—things like pest control, trash hauling, utilities—and finding ways to reduce them by adjusting services, looking for errors and overcharges and negotiating for better rates.
Read the full article here – http://restaurant-hospitality.com
Arizona Among Top 10 States for Restaurant Growth
Projected Population Gain by 2020: 17.7%
Number of Full-Service Restaurants: 3,479
Full-Service Restaurants per 100,000 Residents: 54.4
Arizona Restaurant Association: www.azrestaurant.org
Projected 2012 Growth in Restaurant Sales: 3.3%
Business Tax Index: 33.177
Median Household Income: $47,279
Bolstered by weather and tourism, Arizona’s dining landscape has been blessed with consistent year-after-year sales growth, including an $800 million jump in 2010 sales alone, says Arizona Restaurant Association president and CEO Steve Chucri.
“Restaurants in this state are certainly pushing food out the door,” Chucri says.
Jeff Flancer, who owns Flancer’s in Gilbert, Arizona, identifies Arizona’s surging population numbers–the state is expected to add more than 1 million residents from 2010 to 2020–as the driving force behind the state’s 21st century restaurant growth.
New residents, Flancer says, “are looking for the same sort of great food establishments and convenient location of restaurants just like they had in their previous home states.”
Both Flancer and Chucri tout Arizona’s opportunity, especially as the state holds but 54.4 full-service restaurants per 100,000 residents, among the nation’s least-saturated states.
As an added bonus, the Arizona Restaurant Association sponsors Arizona Restaurant Week each May and September. Nearly 200 restaurants across the state participate in the multi-day event that showcases the state’s expanding restaurant landscape and promotes culinary tourism.
March is fast approaching and there LOTS happening. Are you ready? Opening Day for the Cactus League is Friday, March 2nd, just two weeks away. Get your official 2012 schedule here http://www.cactusleague.com/files/2012-schedule.pdf That’s not all… the NCAA basketball tournament begins on March 15th – do you have your bracket ready? Oh yes, and let’s not forget that just two days later it’s St. Patrick’s Day! Hope you’ve been getting plenty of rest; you’re going to need it!
If this news has sent you into panic mode, no need to worry. There’s still time for to get flyers, menus and any other collateral materials you need to promote these events. Call The Menu Designer at 480-283-8706 and place your orders today.
The Restaurant Source representatives are from both locally and nationally based companies who can provide products and services for all types of restaurants, including those in early construction stages to long-established businesses. Whenever you call on our members, you have the confidence that comes from knowing you are working with the industry’s best.