Managing your restaurant operation should be one of your primary concerns. Merely starting a restaurant and not tracking the restaurant operations is by far the biggest blunder that you can do. While most restaurant POS software do provide multiple restaurant reports, it is important to know which are the most crucial ones that you need to monitor on a daily basis.
Sales, expense, inventory, and marketing reports will enable you to keep a very keen eye on all your restaurant operations and make the necessary changes in the fields which are not performing that well, which will further boost your business.
Restaurant Reports That Give You Crucial Insights About Your Restaurant Business
Since keeping a tab on all the restaurant operations manually is a task that not all are able to perform diligently, it is highly recommended that you have a robust restaurant POS on board that will help you have reports of all your restaurant operations at one central place.
While finalizing a restaurant POS make sure that they are empowered to provide you with the below-mentioned restaurant reports:
1. Sales Report
Sales report should consist of the comprehensive data of the total sales that happened at your restaurant on a particular day. It should tell you the total number of bills generated and the discounts conferred.
If you are running multiple outlets, then the report should give you the data of all the outlets in one central place. This will help you compare the sales happening across all the outlets. Such a comprehensive data will help you to understand what works the best for different outlets and take steps accordingly to bolster your total sales across all the outlets.
As per the data gathered you can revamp your menu, or bring in outlet specific marketing strategies that will bolster your overall sales.
2. Inventory Report
Since it is the raw materials that help you run your restaurant and since it is the inventory where internal thefts are rampant, it becomes necessary for you to keep a check on your inventory rather closely.
An inventory report should tell you in details the beginning and the closing inventory of each item, the amount of each item used on a particular day across all the outlets. Inventory report also includes the Variance Report that tells you the difference between the actual stock consumption and the Ideal stock consumption. A Variance of 3-5% is acceptable, however, anything over this implies that wastage or even internal pilferage may be happening at your restaurant.
This will help you tally the reports and track any misappropriations that might be happening behind your back at the inventory section. Since the costs of the raw materials are soaring, you hardly can compromise with your inventory anymore.
3. Expense Reports
Unexpensed expenses crop up, every day, and this makes it all the more important to keep track of all the expenses keeping in mind the fixed cost, that will help you maintain some budget at the standby. Hence, an expense report must include, the rents, the electricity, phone, wifi, water bills, the salaries of your staff, costs of the inventory, the maintenance of the equipment, the budget required for hosting different events, and the miscellaneous expenses include the replacement for the broken crockery, the spoilt tablecloth and the like. An expense report should give you a comprehensive understanding of all the expenses that your restaurant incurs on a daily basis and over a period of time.
The importance of having this report is, you can allocate your budget well, and know where exactly you need to cut down. This will help you reduce the unnecessary expenses, which will bolster your overall profit.
4. CRM Reports
Keeping a comprehensive CRM database will help you have all your customer reports at one central place. Since the retention of customers is more important than increasing the customer trial base, CRM reports will come in handy.
The CRM reports will tell you about the customer orders, the date and time of visits, and the bill generated at the table. This will help you understand the best and the least selling items, and accordingly, you can sit with your chef and do your menu engineering. It will also help you to tap the customers who you think has the potential of becoming your loyal customers. Harping on the customer data you can run loyalty programs, or you can run robust marketing campaigns; that will help you in customer retention.
All these reports must be able to give you real-time data. And you will be able to fetch these data from any part of the world, using any device. Such technology will help you to control the complete restaurant operations remotely.