By Alexandra Sheehan, Contributor
Many think making sales can be tough in the restaurant industry. But the average monthly revenue for a restaurant that’s been in business for less than a year is $111,860.70. This is great for the outlook of the industry, but it also means there’s lots of competition. And with discretionary spend on the decline, it’s more important than ever to focus on the bottom line.
Boosting revenue is a top business priority for most restaurants these days, but how exactly can you do that? You can put together business growth strategies to help achieve revenue goals, and one way to expedite that process is with advanced business tools.
Here’s a quick-hitting list of tools to help boost your restaurant’s revenue.
The Importance of Increasing Restaurant Revenue
Maximizing revenue isn’t just about surviving—it’s about thriving. Restaurants have to always innovate to attract new patrons and retain existing ones. With rising costs and shrinking profit margins, it’s essential to leverage technology to enhance efficiency, reduce costs, and boost revenue.
A typical restaurant’s revenue is influenced by several factors, including location, menu pricing, and customer turnover. However, implementing advanced tools can provide a competitive edge, helping restaurants optimize operations and improve profitability.
9 Tools for Growing Restaurant Revenue
Sure, you probably already have a tech stack setup to help run your restaurant business. But have you thought about how each element truly assists you in achieving revenue growth goals? Take a look at these tools that can help you do exactly that:
Payment Processing
Yes, payment processing is a typical business function. And your payment processor is just a utility to help you complete each sale. But advanced payment processors can actually feed your overall business and revenue growth.
How? A payment processor with advanced features like customer profiles, integrations, and loyalty program functionality can help you build stronger, and more profitable, relationships with your patrons. It seamlessly integrates with other restaurant business tools to provide you more accurate, deeper data.
Here are some advanced restaurant payment processors to check out:
Clover
Helcim
CDGcommerce
Stripe
Payment Depot
Stax
Square Payments
Sales Operations Tools
Sales operations tools are less commonplace than payment processors but equally as valuable. These tools can automate sales processes, shorten the workflow, and capture and manage data. It essentially makes it easier for you to seal the deal and close a sale. Plus, advanced sales operations tools also incorporate customer relationship management (CRM) functionality.
Here are some sales operations tools to check out:
Clari
Salesforce
HubSpot
PandaDoc
Salesloft
Accounts Payable Software
Accounts payable (AP) software is also essential to boosting restaurant revenue. Effective AP systems and workflows make sure your restaurant stays on good terms with vendors and suppliers. Late payments can lead to harmed relationships and order delays, which can in turn wreak havoc on your day-to-day operations. You might even have to operate with a limited menu due to lack of ingredient inventory—and that’s a quick way to make sure you don’t grow revenue.
Here are some AP software tools to check out:
QuickBooks Online Advanced Small Business Accounting Software
Xero
Tipalti
NetSuite
Sage Intacct
ZipBooks
FreshBooks
BILL
Data Management and Analysis Platforms
In 2024, data is accessible to restaurants of all sizes—even if you’re a small establishment that just opened doors yesterday. Big data management and analysis platforms can help you stay on top of your KPIs as well as investigate issues and opportunities.
Here are some data management and analysis tools to check out:
MarginEdge
MarketMan
ZoomInfo
Infer
LinkedIn Sales Navigator
Gong
Website Builder
Even if you don’t sell online, your restaurant will benefit from a website. You can use your restaurant website to boost SEO, highlight your menu, build an email list, hire staff, show customers how to get to your location, and so much more.
Here are some website builders to check out:
Squarespace
Wix
UpMenu
Restaurantify
Popmenu
Social Media and Marketing Tools
Promoting your restaurant on social media and other digital channels is an excellent way to grow revenue. And there are tons of advanced tools to help you manage this. Whether it’s running social media ads, managing email marketing campaigns, or running search ads, it can be overwhelming to manage it all. That’s where these tools come in handy.
Here are some social media and marketing tools to check out for your restaurant:
Loomly
Canva
Hootsuite
Later
Mailchimp
Customer Loyalty Programs
Loyalty programs are a proven method to increase repeat business and customer retention. Advanced tools to manage loyalty programs can provide insights into customer preferences, helping tailor promotions and rewards that resonate with your audience.
Here are some loyalty program tools to check out for your restaurant:
Belly
FiveStars
Loyalzoo
Kangaroo Rewards
Online Ordering and Delivery
With the growing demand for online ordering and delivery services, integrating advanced tools to manage these operations is crucial. Efficient online ordering systems can streamline the process, reduce errors, and improve customer satisfaction.
Here are some online ordering and delivery tools to check out for your restaurant:
ChowNow
Toast
Square Online
Upserve
GloriaFood
Employee Management Software
Effective staff management is essential for maintaining high service standards and operational efficiency. Advanced employee management software can help schedule shifts, track performance, and ensure compliance with labor laws.
These tools are increasingly important as restaurants hire. The restaurant workforce is expected to grow by 200,000 jobs, amounting to 15.7 million restaurant jobs by the end of 2024. Nearly half (45%) of restaurants need more staff to meet customer demand.
Here are some employee management tools to check out for your restaurant:
7shifts
HotSchedules
Deputy
ZoomShift
Sling
The Bottom Line
It’s always a good idea to look for ways to grow revenue in your restaurant. Once you know what you want to do, you can integrate tools and platforms to help you achieve your goals more efficiently.
Which advanced tools do you use in your restaurant to boost the bottom line? What have been the biggest benefits for you? Feel free to share your ideas or questions in the comments – we would love to discuss this exciting topic with our readers!
About the Author
Alex is a B2B content strategist, editor, and writer who consults with tech companies on content strategies. She’s worked with brands like Shopify, Intercom, Verizon, and more. Find her at TheAlexSheehan.com.
