INVENTORY: Not Taking a Regular Inventory is Costing You Cash [Presented by Orderly]
We've heard from restaurant owners time and time again... No one likes taking inventory. And if they do, they often fudge the numbers. But when done right, it's a process that can increase your profits by 24%. Our 2018 Inventory Training Cheat Sheet is a comprehensive guide on how to dive right in and start taking an accurate inventory. You'll find 5 easy tactics for getting organized and increasing your bottom line. Download the guide and get started today!
DID YOU KNOWS…
Are You Ready for Ugly Delicious?
David Chang, the chef-restaurateur behind the Momofuku empire, has a new show coming to Netflix called Ugly Delicious. It’ll explore the connection between food and identity. Chang eats and chats with other chefs, writers, artists and other entertainers from around the world. The first trailer just dropped.
The Falcon Heavy Packs A Huge Payload
On Tuesday, SpaceX's Falcon Heavy took off from the Kennedy Space Center on its maiden test flight. It has 5 million pounds of thrust at liftoff, making it the world's most powerful rocket by a factor of two and roughly equivalent to 18 Boeing 747 aircraft. Such an incredible level of thrust means the Falcon Heavy can carry an impressive payload of nearly 141,000 lbs into orbit. Only the Saturn V moon rocket which last flew in 1973, was able to deliver a heavier payload into orbit.
More Sports Streaming News
Two big sports streaming news operators should take note of. First, DraftKings is looking into the possibility of streaming live sports as it looks to create more stickiness with their customers. DraftKings will stream EuroLeague basketball games this year for $3+ participants. Meanwhile, ESPN has unveiled a $4.99/month ESPN Plus price. Bob Iger calls streaming the “future of ESPN.”
DELIVERY-ONLY COMES TO BOSTON
Why it matters to you: Delivery only restaurants are spreading rapidly, now popping up in Boston.
A little while ago we wrote about restaurants ditching dining-rooms and we also discussed David Chang’s partnership with UberEATS which was coupled with the closing of the dining room aspect of his startup restaurant Ando. The idea of delivery-only has been spreading like wildfire, and now two new delivery-only spots popped up in the Daily Rail’s hometown of Boston.
While it is still too early to gauge how they will do, it is interesting to see more places take this route. While some restaurants find it difficult to get Millennials out of the house and into bars/restaurants, this may be a strong alternative restaurants will take if they decide to market towards them.
So, what to do with your restaurant? Consider giving customers incentives for online orders as well as dine-in. Combine your efforts and offer your wing night deal with the purchase of alcohol, delivered or dine-in. Think of the possibilities! You could be the first place in your town offering a wing night deal delivered to guests’ door paired with a cold six pack of their choosing. Certainly, doesn’t sound like it would hurt your chances of standing out and succeeding does it?
AUTOMATED ORDERING MAKES CUSTOMERS AUTONOMOUS
Why it matters to you: As labor costs rise, restaurants look towards employing digital kiosks to optimize employees’ time.
As lawmakers are continually forced to examine and increase minimum wage, you know, to like give human beings a decent living wage, employers are searching for ways to optimize their staffs’ time. One way some are doing this is by implementing digital kiosks for guests to order from. Though these kiosks are typically only utilized at fast-food/fast-casual chains, they do maximize their employees time and cut costs. It is no wonder fast food giants are doing so.
So, how does this tech live at dine-in restaurants? The main issue with this is the fact that these kiosks and digital menus and the like truly minimize upselling along with the diner’s experience. If a group of guests are considering several different dishes or wines, and with no server to lead them the way, guests may be likely to talk themselves out of that 2010 Beaujolais and go with the house red instead.
The other added conundrum with these menus are your restaurants’ specials. While servers can help push those to minimize losses, a digital menu can list the item but little else. We here at the Rail are all for the advancement of technology, yet there will always be something special about a sit-down dinner with an excellent server. Remember, it is the overall experience you are presenting diners, not just the food.