“Navigating the Evolving Restaurant Landscape” by Craig Shelton
“I’m going to share a new KPI that will totally change the way you think about your business. It will expose just how incorrectly we have been thinking about our businesses and it will reveal innumerable solutions to your problems that have been hidden from view up until now.
THE IMPLICATION IS THAT PRICING AND PROFITABILITY IS MOST HIGJLY CORRELATED WITH NUMBER OF TURNS – NOT COST CONTROL
This information radically changes how one should manage a restaurant.
Managing Labor to Cost Percentage is nearly always wrong (unless you are that one-in-a-thousand restaurant enjoying the best location and the greatest number of turns in your genre.
Managing Food Cost to a Cost Percentage is always wrong if you are using the standard model pricing formula.
We will explore dozens of ways to take advantage of these unique insights in tomorrow’s module, “Menu Maestros – Crafting a Profitable Menu for Tomorrow – Craig Shelton”.