By optimising your operations at different stages of your business’ cycle, a restaurant can keep growing and not fall into common business traps. In this module, you’ll learn that:
- Maximising efficiency involves fine-tuning internal processes.
- Maximising sales involves creating positive external influences.
- Both maximising sales and efficiency are aimed at increasing your profit.
When should you start thinking of this? Let us look at the different development stages of a restaurant:
- Start of operation: Activate effective marketing to bring in customers and sales.
- 1.5-2nd year: Work towards breaking even. You should be breaking even before your lease is up.
- 3rd year: Work towards maximising profit. A benchmark for a restaurant’s profit margin is 20-30%.
It’s clear that you have to think about maximising your profits early in the development of your business, so keep these topics in mind right from the start of your restaurant business.
Click on the topics below to start.