Losing less money as important as making more money
This video post is part of Sullivision on NRN.com, a resource center for restaurants looking for service, leadership and sales-building techniques from industry expert and NRN columnist Jim Sullivan.
All money is not created equal: $100 in sales is $100, less taxes and expenses. But $100 in savings is, well, $100.
So while restaurants should always focus on making more money, a simultaneous focus on how to waste less is also needed. Look at any foodservice training manual and you’ll find the first 10 pages chockablock full of company history, mission statements and the importance of guest service. But all too often the manuals overlook the most important message of all: Finance 101, or what the average profit on the dollar is.
If restaurants fail to provide initial and daily insight into how low foodservice margins are, a million-dollar opportunity to waste less and make more has been squandered. This insightful video, from the DVD 60 Second Lessons in Leadership, is an effective visual teaching tool for any restaurant’s team members — both younger employees and seasoned vets — who may routinely overlook the basic principles of gross sales versus net profit.
Jim Sullivan is chief executive and founder of Sullivision.com, which designs leadership, service and sales-building products, programs and services for the Top 200 restaurant and retail brands worldwide. Clients have included McDonald’s, American Express and Walt Disney Company. More information on Sullivision and its products and services can be found at Sullivision.com.
Follow Jim Sullivan on Twitter: @Sullivision