The restaurant industry runs on famously tight margins.
Exacerbating factors such as the coronavirus pandemic, cost of living crisis, labour shortages, food and fuel price increases have all made already tight profit margins even tighter. It’s therefore vital that food delivery business owners look at every viable way of increasing revenue whilst cutting costs.
One of the best ways to do this is through implementing technology. There’s some fantastic tech on the market that’s revolutionising restaurant franchises’ efficiency and profitability.
So, what are the primary areas to consider? Here’s a few ideas…
Customers ordering online spend 50% more than those ordering takeaways over the phone or in-house. The simplicity and efficiency of online ordering also means that customers purchase more frequently.
Increased spend and loyal customers… what's not to love?
If you run a food delivery business and aren’t already maximising your virtual storefront, well now’s the time. To get started, take a look at our essential guide to maximising your restaurant’s online presence.
We’ve all been there… a fabulously fun night out, leading to an expensive tab at the end. Ouch.
Consumer psychology means diners are more likely to increase their spend when ordering with a tab system.
If you run a physical restaurant as well as a virtual food brand, consider implementing digital tabs which allow diners to order desserts, sides, drinks and coffees without having to pay each time. This will reduce consumer hesitancy on extra spending – and increase your restaurant’s profit margin.
Enhance your digital ordering system with integrated and automated loyalty programs.
Loyalty program members are 30% more likely to spend more. Given that online orders are already 50% higher (and more frequent) embedding this behaviour makes a serious difference to your bottom line....
Using the latest customer relationship management (CRM) technology will help with this. Just make sure your POS system is also fully integrable with any new software.
Kitchen automation software helps your chefs see what needs to be prepped and cooked, keep track of order statuses and reduce wastage. Placing the right data at your chefs’ fingertips means diners wait less for delivery; creating a virtuous cycle of quick service, quality dishes and positive reviews.
There are also several automated inventory management tools on the market (with sophisticated integrations for predicting demand), meaning you can budget accurately and never over-spend on ingredients again.
Add-ons such as automated scheduling and workforce management software (check-out Blend for instance) are also a key area to explore. They allow food franchise owners to reduce labour costs by responding to real-time data on your quiet and busy periods.
What’s more, HR tech also improves your employees’ satisfaction and productivity, as well as improving transparency around shift scheduling.
Peckwater Brands are industry experts on the latest tech and delivery data, using this to build on-trend, consumer-friendly and profitable virtual food brands. Get in touch today and discover how you can earn more from your kitchen.