Startup companies run their everyday activities and make decisions based on statistics, different scores and indicators. These indicators are monitored monthly and most cases also shared with all their employees.
This is one of the reasons why startups like Taxify, Skype or Wolt are so successful.
Good news is that data based management can be used in all companies, also cafes and restaurants.
Online indicators are mostly displayed on an office wall screen. One can also keep this data in excel or Google Spreadsheet, whatever you like most.
Transparency and clarity of data helps to find out easily how well the company is mobbing towards its goals and in what fields we need to work harder to achieve the set goals.
The displayed information also helps employees to understand how the company is doing and how their contribution is influencing the success of the company.
Data analysis in restaurant business with KPIs
One way to run your restaurant business as a startup company is to start with setting up your KPIs - key performance indicators.
It is e methodology where a company sets measurable goals and keeps monitoring these monthly. Still also a one time review of your data can surprise and bring clarifications.
Thanks to KPIs your management team will always know which field to pay more attention to in order to raise profit, speed up development and avoid wasting money. KPIs help to evaluate what you have already achieved and how far you are from goals set.
The only precondition is to have a database frim where you get the needed information easily.
On the picture you can see the web based dashboard of Compucash.
In the following part we will bring you some examples of most common KPIs used in restaurant business and show how the web based CompuCash helps you to handle your data smoothly.
Most common KPI-s in restaurant business
As each company is different then also KPIs differ by sector and field. You can choose among hundreds of KPI-s but you should not get distracted from it.
It is the easiest to start with three to five KPIs: choose these, add them into a excel sheet and add a reminder into your calendar to add new numbers and analyse the results.
Here are some examples of KPIs suitable for restaurant business.
1. Managing products.
Sales of product groups
Quantities of products sold
Top products based on sales
2. Team management.
You top sales people /waiters & waitresses.
Average bill per client
Number of customers
3. Managing sales and marketing
Sales and marketing help you to grow your business. Following the KPIs you can keep an eye on your sales and marketing activities.
Yu could always know the following:
- how many loyal customers have you got (how often do the buy something and what is the average size of their purchase);
- how many booking of tables are done and through which channels (phone, email, homepage, social media)
- how much money do you spend on marketing and ads,
- how many people visit your homepage,
- how many followers you have in social media.
The following table is an example of your marketing and sales KPIs in excel.
All these indicators help you to make decisions to continues a campaign or not, where to use bets your time and money.
Maintaining your data in web based CompuCash
Using CompuCash you can get most of the above mentioned data in a web based systems easily and comfortably.
You just need to log into: http://www.Compucash5.com, and check the data and analyse according to your needs.
The most important requests can be saved as templates to use them continuously.
If you do not have an access to the web based CompuCash yet then please contact us.