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Multi-Unit Restaurants - Why Upgrade Your Reporting Platform?

Posted by Mirus Team

Increasing Your Awareness

Restaurant companies carefully seek out the smartest ways to manage their everyday operations. Each system they employ (POS, Labor Scheduling, Inventory, Food Cost, Guest Loyalty, Payroll, GL) probably does a decent job of capturing and recording all transactional information and provides some sort of static reporting.

However, these systems are unable to “talk to each other”. In order to try to get greater clarity, many operators must resort to merging all the data from all of these systems into excel spreadsheets. This method is not only often unreliable but extremely time consuming and tedious.

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Topics: Restaurant Custom Reporting

Restaurant Industry: A Diary of the COVID-19 Impact August 3

Posted by Dave

Dog days of summer

First off, I hope you continue to be safe and avoid the virus. As this pandemic continues, the rate of spread is increasing in many cities around the US. However, the percentage of the US population that has come into contact with the virus was estimated to be no more than 7-8% by the CDC this past week. So, there are a whole lot of us that are unprotected from the virus.

And now for the bad news....

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Topics: Restaurant Profit, Restaurant Operations, Restaurant Finance, COVID-19 Restaurant Impact

Restaurants - What's Certain in an Uncertain World

Posted by Chuck

What Was Ever Certain?

The ever-changing situation surrounding COVID 19 is unprecedented and for many it's a time of uncertainty and great concern. Reading this or similar comments in numerous articles, LinkedIn posts and Twitter feeds has made me ask, is there such a thing as certainty in our uncertain world?

I suppose, in certain limited and controlled situations it's arguable that it exists. Heck, the definition of certainty even says it exists; "a fact that is definitely true or an event that is definitely going to take place”.

My observation of certainty is that many of us, myself included, expect things will go the way we’ve come to expect (the same old routine) day in and day out, and we take comfort in our belief in this certainty. Therefore, certainty is a way for us to feel in control - to believe that things are going to unfold in a certain, predictable way.

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Topics: Restaurant Operations

Restaurant Industry: A Diary of the COVID-19 Impact July 7

Posted by Dave

Happy 4th of July!

Since my last post, we have had Father's Day and the 4th of July, and a whole lot of mis-direction by Governors. Sales and traffic continue to improve week to week, but there is now regular volatility in the numbers. I believe this is an indication we have gotten back the low hanging fruit, and getting higher levels of sales may take a lot longer.

Father's Day had been the best sales day since the pandemic started. Mirus Index shows sales down less than -18% from the same day last year; by far the best to date.

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Topics: Restaurant Profit, Restaurant Operations, Restaurant Finance, COVID-19 Restaurant Impact

Restaurant Industry: A Diary of the COVID-19 Impact June 3

Posted by Dave

Memorial Day Hangover?

Memorial Day in 2020 fell on the earliest date it can be according to the calendar. And, given the softening of restrictions on restaurants in the two weeks leading up to the holiday weekend, it is no surprise that Memorial Day was a big hit! Sales jumped over 16% over the previous Monday, but was still down -45% from last year.

You hear how numbers can be lead you to the wrong conclusion if not understood. An example of this is illustrated in the chart above on the day after Memorial Day. The chart shows sales were down -3.42% from the previous Tuesday, but what it doesn't show is that May 26 was the best day for sales compared to last year since the pandemic began. The sales this year were only down -41%, meaning the industry had almost 60% of the sales it had last year. That is good news.

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Topics: Restaurant Profit, Restaurant Operations, Restaurant Finance, COVID-19 Restaurant Impact

Restaurant Industry: A Diary of the COVID-19 Impact May 11

Posted by Dave

May 11

Thanks Mom!

Every mother loves Mother's Day; a day for them to be recognized and if they are lucky, pampered.

In this Covid-19 world, it also gave a boost to restaurant sales. Traditionally, Mother's day treats restaurants well, and for some it is one of the busiest days of the year. This year, sales at restaurants increased over 44% from the previous Sunday (May 3). And, it's not like May 3 was a soft day; the sales for that day were almost 10% higher than the previous Sunday.

Total sales volume (not SSS) on Mother's Day was also more than 50% of last year's Mother's Day, a milestone celebrated by many. As an industry we have come a long way from a few weeks ago when aggregate sales were down over 70%. It may take some time for sales to fully recover, but the evidence over the past six weeks shows a steady week by week improvement.

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Topics: Restaurant Profit, Restaurant Operations, Restaurant Finance, COVID-19 Restaurant Impact

Restaurant Industry: A Diary of the COVID-19 Impact May 1

Posted by Dave

May 1

Does anyone else sense that time is flying even faster than usual? You may not have this distorted sense of time if you are working from home, or laid off, but it is already May. Some thought at the start of this pandemic that all would be normal at this time. Seems like a silly, optimistic projection today, and we still have no clear picture on how the next several months are going to play out.

For those following this diary, I'd like to say thanks. And, if you have any thoughts or ideas you think would be constructive to our audience, please leave your comments at the bottom of this blog, or email me at dave@mirus.com.

Positive events continue to be revealed. Last week, the sales trend data indicated that we might have hit a bump in the road. Since then, the growth of restaurant sales has continued in a steady fashion. Here is the Mirus Index by Day for the month of April compared to the same day from the Previous Week. Easter is the first thing you might notice. There are two anomalies related to Easter, the week it fell on last year, and the week it fell on this year. The large negative is Easter this year, and the spike is the following Sunday when this year is compared to a weak Easter last year. Keep in mind these are same-store calculations, so a restaurant has to be open this year and last year to be included in these numbers.

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Topics: Restaurant Profit, Restaurant Operations, Restaurant Finance, COVID-19 Restaurant Impact

Restaurant Industry: A Diary of the COVID-19 Impact April 20

Posted by Dave

April 24 Diary Entry

For those who have been following my posts and articles, you have heard the news that the sales of the restaurant industry hit their lowest point at the end of March. Since then, sales have been improving slowly on a week-to-week basis. In recent weeks, the Mirus Index has shown an increase in sales on a same-store basis.

Since Easter, the rate of sales increase accelerated to about 16%, that is until a couple of days ago.

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Topics: Restaurant Profit, Restaurant Operations, Restaurant Finance, COVID-19 Restaurant Impact

Restaurant Industry: A Diary of the Coronavirus (COVID-19) Impact

Posted by Dave

April 13 Diary Entry

The restaurant industry started the year 2020 stronger than any year in more than a decade, although the impact of Covid-19 was already working its way into the numbers. Between March 12 and March 16, city by city, state by state shut down the restaurant dining room. All of the sports leagues also suspended operations. Curbside, takeout, drive-thru and delivery were now the only service channels for restaurants. That is when it hit the fan. Since then, is there any good news?

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Topics: Restaurant Profit, Restaurant Operations, Restaurant Finance, COVID-19 Restaurant Impact

Restaurants: Building Your Own Data Warehouse Is Senseless

Posted by Dave

The restaurant business is complex, much more so than customers would typically believe. We have lived through an explosion of new software tools that help restaurant operators manage this complexity and in the process they have created a new dilemma; understanding it all.

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Topics: Restaurant Data Warehouse, Restaurant IT

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