Phase 1 – The Menu
Now she could implement the first stage of her overhaul. Early last year, Agnes had invested in a restaurant point-of-sale system. She ran the sales mix report and looked at the results. It highlighted the top selling items in each category. Using a technique called menu engineering; she began to analyze the items in terms of margin and volume of items sold. Her results were broken down into four basic categories.
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The 6 Month Overhaul
Agnes set a plan to change one aspect of her restaurant each month for the next five months. By staging her changes, it gave her the chance to focus on each major issue without getting distracted by the other projects.
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Moving from Critic to Customer – A necessary step in overcoming non-traditional competitors
Last week, we left our restaurant owner friend, Agnes, running on the treadmill as she contemplated her future. Her restaurant’s sales were dropping and while she initially blamed others for her lagging performance, the brisk run on the treadmill seemed to clear her mind. She had resolved to fight. More than that, she had resolved to win.
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Are the products you sell now available in non-traditional stores?
This week we’ll take a look at a situation where your competition comes from just outside of your industry as in the case of Agnes.
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Online Retailers – How to Compete Cont’d
This week, let's continue our look at our friend, Bob the Jeweler and how he can tackle competition from online store equivalents. Here are a few more strategies that Bob has incorporated into his business plan.
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