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What impact does Customer Satisfaction have on Restaurant Profit Margin?

Posted by Mirus Team

For the past couple months, we have discussed on multiple occasions how tight the margins are within the restaurant industry. We’ve posted 4 areas you care most about and how promotion analysis is just one piece of the puzzle where focus should be placed throughout the entire company; not just in Marketing. Furthermore, we have also talked about customer satisfaction and how important it is to analyze ordering trends using restaurant BI solutions. You can see where I am going with this, per the title of this post. Let’s dive into how customer satisfaction can impact net revenue.

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The Art of Loss Prevention - Q&A with Mirus CEO, Dave Bennett

Posted by Mirus Team

Whether you own one restaurant or 100 there's no eluding the fact that at some point you have been stolen from. It may have been a lot or a little but your employees who handle food and money day in and day out have either purposefully or accidentally stolen from you. (Who am I kidding, 99.9% of the time it was on purpose and chances are multiple people conspired in it...)

In conjunction with HT Magazine, Editor in Chief Abigail Lorden has worked with myself and Mirus President/CEO Dave Bennett to dive into the subject of loss prevention within the restaurant industry. The commentary below will be featured in a future issue of HT Magazine but we feel it's important enough to also be featured in The Mirus Reporter.

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Topics: Restaurant Loss Management

5 Reasons Restaurants Need A Data Mining Solution

Posted by Mirus Team

 
Whether you own one restaurant or 100, there's no eluding the fact that you have a lot of data coming from various systems.
 
One system that you may not have hooked up is data mining software to complete a more in depth analysis of operations. Let's face it, margins are tight and they always will be as long as you are in the restaurant industry.
 
The extra expense of investing in data mining software may not be a need but those who currently use some form of data mining software to analyze their operations would most assuredly argue otherwise. There's a hurdle that the C-Suite restaurant executives need to attempt to get over in regards to data mining software and that hurdle is words like data, analysis, software, consolidation, BPM (business performance measurement)... etc. do not solely relate to their IT department.
 
They also relate to operations, marketing and finance. Those departments need data mining software for a variety of reasons but most importantly, they need the software to help grow your business and discover outliers positively or negatively affecting your company.
 
Needless to say, there are plenty more than 5 reasons why you need data mining software but through research and experience these are the top 5 that will without a doubt resonate most.
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Topics: Restaurant Data Warehouse

Restaurant Profit Margin - 4 Areas To Focus On

Posted by Mirus Team

Whether you own 1 restaurant or 100, there’s no eluding the fact that you have a slim restaurant profit margin. Like… razor thin. Each and every week you or someone on your staff breaks down the numbers to try and find ways to control costs, cut back labor hours, manipulate ingredient specs, etc. with the ultimate goal to pad the bottom-line and increase profitability. It’s perpetual and it’s always something different that changes the outcome and affects your restaurant profit margin. Whether it’s the price of wheat or employee turnover, your numbers will be modified to a slight, but noticeable degree.

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Topics: Restaurant Profit, Restaurant Operations

10 Ways To Identify That You Need A Restaurant Report Writer

Posted by Mirus Team

Whether you own 10 restaurants or 100, there’s no eluding the fact that headaches happen. They happen for a variety of different reasons. Some would argue the headaches are attributed to personnel issues and having to stew over the fact that no one will ever be able to do the job the way you want it. We have discovered a new source for the headaches. It’s … number crunching. Having a restaurant report writer might be a cure to the headaches. But, before you decide you need one, perhaps you should check out the 10 identifiers that let you know you’re ready.  

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5 Best Practices for Detecting Fraud In Your Restaurants

Posted by Mirus Team

Losing Pennies a Day Can Add Up

Whether you own one restaurant or 100, there's no eluding the fact that theft happens. Fraudulent activity is a regular occurrence in many industries but it rears its ugly head the most in restaurants. Why, you ask? You've been in restaurants for years, of course you know why! Your employees handle money and make the food! It's no secret how easy it is to void a transaction or cancel a made or unmade order and pocket the money. The question is, how do you catch it and attempt to stop it? We've created five best practices that may help you out. You're an Above Store Leader so you can't be in every store, every day - here's how you can get your arms around fraudulent activity in your store(s):

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