I know that it is something that we do not like to talk about. There are statistics quoted that say that 1 out of every 8 bartenders or cocktail servers is taking money from you, and while I choose not to believe that statistic, it does make you think about it.
The key to more profit is more revenue. If you’re not increasing revenues, it is very hard to increase profit without negatively affecting what you do. Of course, there are always things that you can do to be more efficient and improve on the cost line, but in the big picture, increasing revenue is really where it’s at!
Here are the top ways to increase revenues:
1. Improve product
2. Increase pricing
3. Find new revenue sources
4. Maximize your seating
5. Strategically Improve efficiency during peak times
1. Improving Product - Look realistically and evaluate all aspects of your restaurant. Review and ask why people would go to your restaurant? Is it something that you would do? How can we be more attractive, memorable, and give the guests what they want? Look at quality, service, and atmosphere. What is it that makes you stand out?
Quality + Service = Reputation: Reputation = Revenues: Revenues + Systems = Profit.
With this in mind, restaurant service coaching is vitally important in taking your restaurant to the next level. Not only do the staff need to bring the correct food to the table promptly, but they need to represent your brand in doing this. They are your ambassadors, and this should not be taken lightly.
Creating a culture of service is a very difficult thing to get started, but once it gets established, it is much easier to keep it rolling. How do we do this, you may ask?
Creating a Flavor Symphony
Whether eating, cooking, or creating a cocktail, the art of learning how to methodically taste all the elements of a dish can be something that lasts a lifetime and can be used daily. Try following this outline taught to me by a renowned Hungarian Chef.
Let me explain. First, you must learn how to interpret what you are tasting and then you can enhance and perfect the taste. This same procedure can be used when creating a dish or a cocktail to make sure that it is well-balanced, full-bodied, and has flair.
Think about it as an artist would create a painting: The background of the picture is the depth or the base of dish, the middle ground is the storyline, or flavor accents, and around the edge (and sprinkled throughout) are the highlights. The highlights give style and personality to the dish while dancing around and giving sizzle to the finished piece. Then lastly, think about tying this all together as an exciting work of art.
Your hotel can be super cool, well-decorated, in a great location, and have lots of interesting amenities, but it will always come down to the personality and charm of your food and beverage operations that will develop loyal and passionate followers.
Let’s look at what a boutique hotel is, who stays there, and why? A boutique hotel is typically smaller--under 200 rooms. It is often in an urban environment, although not always [there are many wonderful boutique resorts], with each hotel having individual personality, including chic, eclectic, and interesting décor and features that make the experience different. The service tends to be individualized and more connected, where small differentiators and points of service make it stand out.
We hear a lot of craft cocktail questions. What are they exactly? What does that mean? Is it a fad that will go away? I actually see it becoming even bigger as more and more locations understand the impact they have on their overall operation. People got bored with the old stand-by cocktails like a Cosmopolitan, Lemon Drop, or Margarita. These drinks generally have lots of vodka, are sweet and colorful with fancy names, but light on flavor! Educated and adventurous guests are seeking out more depth and refinement in their glass.
Bars that are passionate about real crafted cocktails can show a dramatic increase in traffic, both in food and beverage areas. Having a strong Craft Cocktail Culture demonstrates your passion for the authentic and for flavor. It shows to the world that you take your business seriously. This is how restaurants develop a solid reputation; people do talk and will recommend your establishment based on the level of skill and sophistication. Generally speaking, this will attract more traffic to the bar, which will in turn, bring more traffic to the restaurant.
Three results you should demand
Some hotels and restaurants spend thousands of dollars every year on property evaluations. Some are required by the brand, the ownership, or other third party. Some are better than others, and many bring little to no value to the property. You are paying a lot for these visits - you should expect more from them.
What are you getting for you money? Passing you audit is often the only real goal. What should you really expect from a good property audit? A lot of money is invested in you and your establishment, and a lot is expected. What would be the outcome if you could increase revenues by 3%? If you can save 5% on the bottom line? If you can increase the level of satisfaction, you can double those numbers. How would that effect your life, your ownership, your staff, and most importantly, guests?
You should expect to find out answers to these 3 questions:
10 reasons why you want to have a great restaurant in your great hotel!
Many folks spend many hours discussing the virtues of having a great restaurant in your hotel. Here are my top ten reasons to support having great Food and Beverage venues:
1. Charisma - It gives your hotel personality, it is the face of your hotel, and is brings life to your hotel, it makes it more than just a square box with rooms!
2. Revenue - Food and Beverage can add substantial revenue to your operation. Many successful hotel restaurants produce more F&B revenue than Rooms revenue. I understand it is not as profitable; however, if you go into it with the right mindset, it can definitely deliver great results.