S$0.13 (vs S$0.042 loss in FY 2021)
Hotel Properties (SGX:H15) Full Year 2022 Results
Key Financial Results
Revenue: S$525.5m (up 53% from FY 2021).
Net income: S$76.4m (up from S$21.7m loss in FY 2021).
Profit margin: 14% (up from net loss in FY 2021).
EPS: S$0.13 (up from S$0.042 loss in FY 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Hotel Properties Earnings Insights
Looking ahead, revenue is forecast to grow 10% pa on average over the next 2 years, compared to a 12% growth forecast for the Hospitality industry in Singapore.
Performance of the Singaporean Hospitality industry.
The company’s share price is broadly unchanged from a week ago.
Risk Analysis
Before we wrap up, we’ve discovered 2 warning signs for Hotel Properties (1 is a bit concerning!) that you should be aware of.
Have feedback on this article? Concerned about the content? get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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The 9 most popular restaurant delivery days
Marketing for restaurant delivery is a tricky mix of strategy and timing. Throw in a need for creativity (who’s going to come up with weekly topics and track what’s relevant) and it can be tough for restaurant owners and operators to find time in their busy schedules to find ways to promote their eatery.
But the fact is, marketing remains one of the most important tasks on your to-do list because it’s the easiest way to keep your diners engaged and your restaurant top of mind.
For example, pairing promotions with a boosted social media presence can help generate business and put guests in seats. Or, as this case may be in modern times, directing them towards your online ordering platform so they can score some delivery.
Restaurant delivery is on the rise. More than 18 million orders were placed on Grubhub in 2022, and online ordering is growing 300% faster than in-house dining. By 2024, online food delivery services are projected to become a $32 billion industry. It pays to master your digital ordering strategy now.
Capitalizing on consumer trends can help drive diners to your restaurant.
National holidays with the most orders
It’s all about national holidays – and we don’t just mean Christmas and Fourth of July. National food holidays and unofficial top restaurant delivery days like mega sporting events and primetime for restaurants looking to amplify off-premise orders.
Take a look at the national holidays that bring the most orders to restaurants and learn how you can promote them to capture more hungry diners.
1. New Year’s Day
Nothing lulls regrets from the previous year more than a good hearty meal, according to Grubhub diners. Over 660,000 orders were placed on Grubhub on New Year’s Day in 2022. It can pay to double down on delivery in the new year as many customers don’t want to leave their house on the day off to get a meal. And having a delivery partner like Grubhub can help take the stress of coordinating deliveries off your plate.
The holiday season is a great time to roll out a seasonal menu that incorporates festive favorites. Perfecting a seasonal menu can help make your restaurant stand out as customers tend to appreciate flavors that correspond to the time of year. Consider creating a New Year’s Day brunch menu that can cure any hangover – incorporating comforting favorites like french toast, pancakes, fresh fruit and home fries.
2. Mother’s Day
For decades, Mother’s Day has been the most popular day for people to dine out. The holiday gives a perfect excuse to ditch the home cooking and take mom out for a nice meal. However, in recent years families don’t need to leave their house in order to get a five-star meal for the guest of honor.
Over 616,000 diners decided to get a restaurant meal for mom in 2022. Families are eager to celebrate the ladies in their lives with delicious food that nobody in the house has to cook themselves.
Read our Mother’s Day guide to see the plethora of ways to play into that excitement, including Mother’s Day restaurant specials and promo ideas like tucking kid-friendly extras such as stickers and coloring sheets into delivery bags. Don’t forget to use social media and your email list to let people know what you’ve got planned for the holiday.
3. Martin Luther King Jr. day
Martin Luther King Jr. Day falls on the third Monday of January. This federal holiday honors Dr. King’s legacy of social justice and equity. MLK Day is also a National Day of Service that encourages Americans to volunteer to improve their communities in honor of Dr. King.
While this holiday brings thousands of orders to restaurants, it’s also a time for restaurants to show they care for their communities. Restaurants can take part in the MLK Day of Service by giving back. Patrons tend to support businesses that align with their values, and this National Day of Service is a great opportunity to show what your restaurant stands for.
Consider hosting a food drive by highlighting that your restaurant is a place where people can drop off their food items. Take lead by donating restaurant meals to local food banks. There are many creative ways to give back to your community, and taking initiatives on this National Day of Service can make your restaurant stand out.
4. Presidents Day
Every third Monday in February Americans celebrate Presidents Day to honor those who have served as president in our 246-year history. Whether diners get the day off or not, many spend the day ordering from their favorite restaurants. In fact, over 550,000 customers placed orders on Grubhub last Presidents Day.
Looking for a unique promotion to run on Presidents Day? Try giving a percentage off different president’s favorite foods on your menu. Did you know John Adams started his mornings with hard cider? Or that Thomas Jefferson’s favorite food was mac and cheese? While you may not serve James Garfield’s favorite squirrel stew dish, you can highlight the dishes you do have that past presidents have enjoyed.
5. Labor Day
Labor Day is when we all say goodbye to summer and start looking forward to the crisp breath of fall. Many people are taking a minute to indulge in a last-minute burst of warm weather by barbecuing poolside or taking a picnic to the park or the beach.
Tailor your Labor Day promotions to what customers are already feeling. A farewell to summer celebration allows for tons of great prompt ideas on social media. Imagine brightly colored graphics, snapshots from the restaurant’s summer events, and a few strategic mentions of your Labor Day delivery deals like offering 15% off with a themed code like BYESUMMER.
Make the most of the biggest restaurant delivery days with Grubhub
Partnering with Grubhub gives restaurant owners and operators just like you access to a wide array of tools and educational resources designed to help you maximize engagement, traction and profits.
Grubhub’s promotion and loyalty tools guide you through the process of targeting your ideal customer, using smart marketing and plug-and-play promotions that have seen other Grubhub partners generate an average of 72% more new customers.
With Grubhub Marketplace, your restaurant gets in front of local diners who otherwise may have never heard of your food or who may have forgotten how delicious your menu truly is. Seasonal promotions are an excuse to remind everyone that you’re there, you have something incredible to offer and that they can sample it again at a discount.
What’s the best food delivery service for your restaurant?
Curious which food delivery service is the best? With so many food delivery apps on the market, there are endless potential partners for you to consider. But not all restaurant delivery services offer the same access to potential diners or the same tools to help you scale your business and achieve your goals.
Using the best food delivery service available can help you tap into promotional opportunities such as major holidays.
Here are a few things to consider as you decide which food delivery platform is right for you.
Brand name and customer reach in your area
It’s no use joining a third-party delivery service if it won’t get you in front of the diners that truly matter. With nearly 163 million Americans eating out each week – 64% of the country’s adults – it’s crucial to reach as many potential guests as possible.
Grubhub Marketplace is the largest marketplace of its kind, connecting restaurants with more than 33 million diners eager to find the source of their next delivery order. In fact, 9 out of 10 independent restaurant operators surveyed who use Grubhub agree Grubhub increases the volume of takeout and delivery orders – higher than the competitor average.
To gauge how Grubhub is doing in your area, visit Marketplace and check out nearby restaurants already using Grubhub to see their success for yourself.
Restaurant fees and profit margins
You’re joining a third-party food delivery service to help bolster your profits, don’t hurt them. Some delivery partners are primarily interested in their own bottom line, but Grubhub is invested in joint success, empowering restaurants so we can all share in a more bountiful future.
Grubhub Marketplace offers restaurants three different levels of membership, ranging from Basic to Premium. You control what you pay and which marketing tools you access so you can tailor your investment to the needs of your restaurant.
In addition to reaching your share of those 33+ million diners on Grubhub, you also get a dedicated Account Advisor and access to delivery services so you’re not navigating success on your own.
Your customers, your data
It’s hard to take your online delivery and takeout services up a notch unless you have access to key data points used in strategic decision making.
Direct not only helps you launch your own online ordering site, it also helps generate diner data you can use to fuel your marketing efforts. And it’s all free, with no commissions ever. Just promote your unique food service delivery link and watch as the customer and data roll in.
Delivery boundaries
One way to save on delivery fees is to use your own in-house team. Although this approach won’t work for everyone, restaurants that do have the bandwidth to oversee self-delivery can add that to other delivery service options including Grubhub delivery, supplemental delivery and pickup.
Grubhub delivery is a proven system, too. Nearly 9 out of 10 independent restaurant owners who use Grubhub agree that Grubhub streamlines takeout and delivery order processing, and 77% of consumers surveyed who use Grubhub highly rate Grubhub’s delivery speed.
Make the most of major delivery days with Grubhub
Top restaurant delivery days hold a major promise for restaurants looking for ways to broaden their customer base and increase revenue, but sometimes it takes a strong partner to make those goals a reality.
Partnering with a third-party delivery app gives you access to tools, knowledge and a built-in audience. At Grubhub, that means joining a platform that’s already a proven success. Now it’s your turn.
To experience the power of Grubhub firsthand, sign up today and get ready for your next round of holiday delivery promotions.
How to leverage customer data for your restaurant
Restaurant owners have endless data at their fingertips from a variety of sources — point-of-sale (POS) systems, marketing platforms, inventory trackers and scheduling software, to name a few. But do you know how to use this data to your advantage?
While it might take some time to understand up front, data analytics can help position your business for long-term growth. By learning how to categorize, collect, and use customer information, you can improve your marketing and build stronger customer relationships.
What are the four types of restaurant customer data?
When you start working with customer data for your restaurant, the sheer volume of information can feel overwhelming. It’s helpful to break everything down into categories:
- Identitydata covers basic information about your diners, enabling you to find your key demographics and spot opportunities for audience expansion. It includes things such as a customer’s name, age, birthday, location, ethnicity, gender, phone number and email address. Depending on your restaurant’s goals, your database might also include information about the customer’s family. You can take identity data a step further to add socioeconomic information such as job title, industry and approximate income.
- Engagement data includes details about how, when and how often customers interact with your restaurant. You can collect this information from your POS system or the analytics that are connected to your website, social media platforms or email marketing program. Useful metrics include website traffic, marketing email open rate, behavioral flow, click-through rate and conversions.
- Behavioral data covers the different ways diners engage with your restaurant. It could include order history, average order value, participation in loyalty programs and use of delivery promotions. On a broader scale, this data can also incorporate things such as email newsletter sign-ups and unsubscribes, creating an account on your delivery system and engagement on different types of devices.
- Attitudinal data involves customers’ attitudes toward your restaurant. It helps you track the opinion of your brand across your diners, the public and specific segments of your audience. For restaurants, it might cover the performance of a menu item, customer reactions to a price or feedback about a seasonal dish. This information typically comes from customer surveys, comment cards, online reviews and complaints.
How to capture customer data
Data can help drive everything from marketing to menu design — but first, you have to collect it. There are many ways to capture data; some are automatic, while others require direct input from your customers.
If you’re new to data analysis, it’s often easiest to start with hands-off data-collection solutions. These systems run in the background, gathering information until you’re ready to use it. Popular options include Google Analytics, which gathers website data, and social media analytics to help you track how customers interact with your profiles and posts.
To collect delivery data, try Grubhub Direct, a service that lets you set up a commission-free online ordering website for your business. As soon as your customers start ordering through your Direct site, the system automatically captures details such as order history, average order, purchase frequency and contact information. Since you own the data, you can download it for free, engage with customers directly and build one-on-one relationships.
When your automatic systems are running, try asking your diners for direct feedback — individual reviews tell you exactly what customers think. Request reviews in person, mention it in your marketing emails and make the request via social media. If your restaurant is on the Grubhub platform, customers can leave feedback after every order. With Grubhub Premium, you can even respond to ratings and reviews to build trust and show you’re serious about creating the best experience possible.
You can also encourage reviews by creating a Google Business profile. Customers can upload photos, rate your restaurant and leave comments. The rating is visible when someone comes across your restaurant through a Google or Google Maps search; a high rating can boost engagement and bring in new diners. Make the most of your Business profile by:
The physical activity in your restaurant is another important data source. Capture information by tracking restaurant capacity and orders per hour. Then, use the data to improve operations. When you understand how order volume and dinner numbers fluctuate throughout the day and week, it’s easier to adjust staffing to meet the demand. Efficient scheduling keeps labor costs in check and ensures employees’ workloads are reasonable.
5 tips to take advantage of customer data
Now that you know how to capture customer data, the next step is to use the information to improve your restaurant operations – and ensure customer satisfaction.
1. Create a customer loyalty program
Loyalty programs can help you collect and use customer data. Diners must sign up to participate, so you can record their names, contact information and order history. As you start to create personal records for each customer, use the data to reward and encourage repeat business:
- Track order value and provide a discount coupon after customers spend a certain amount over time.
- Monitor order frequency gaps and use them to trigger an automated “we miss you” email.
- Work with your delivery platform to offer a deal after a certain number of orders.
Check out more strategies for creating a restaurant loyalty program that stands out.
2. Send targeted promotions
Customer data gives you the power to personalize your marketing efforts. If you’re tracking a customer’s orders, for example, it’s easy to identify the items they order frequently. With that information, you can recommend new menu items, create targeted upsell offers or send customized discount coupons for the diner’s favorite meal.
Order times can be helpful, too. If you know a specific customer often comes in for lunch on Friday at noon, you might schedule a marketing email for 10 am to encourage them to choose your restaurant over a competitor.
Data is particularly useful within your delivery system. Use it to suggest items customers might like, offer a special discount for a larger order, or provide a free item with the purchase of another item. Services such as Grubhub Premium make it easy to access both promotion and loyalty tools to increase exposure and maximize the benefit of customer data. For example, if a quesadilla is your most popular item, consider offering a 10% discount to motivate diners to add it to their cart. Learn more about how you can run promotions on Grubhub.
3. Establish contacts
Once you have a customer’s contact information, use it to create and maintain an open line of communication. Put diners’ email addresses into a mailing list, and send out regular newsletters to promote new specials and announce seasonal menus. To prompt people to come in or order delivery, provide exclusive discount codes or special deals. Depending on your target demographic, you can also send coupons in the mail.
Regular contact can boost business returns, but it also keeps your restaurant top of mind. It’s a good way to announce changes that affect customers as well — holiday hours or a new location, for example. When you’re consistent with the frequency and personality of marketing emails, they can help humanize your brand and make diners feel they’re part of a community.
If you need to start collecting email addresses, there are several ways to go about it without seeming pushy. The trick is to find an incentive that’s appealing enough to get guests to hand over their email. Offer a free dessert to people who join your mailing list, invite social media followers to enter a contest, or require an email to sign in to your restaurant’s Wi-Fi.
4. Show appreciation
Tracking individual data helps you understand your customers on a deeper level. In fact, you probably know more about them than their coworkers. Use that data to show your appreciation and build a positive, lasting relationship. Some options include:
- Send a birthday discount code.
- Include a surprise treat for repeat customers.
- Celebrate the sign-up anniversary for loyalty-program members.
- Host an exclusive tasting or thank-you dinner for loyal diners.
No matter how you show thanks, receiving a special discount or bonus can mean a lot to a customer. Take a look at more ways you can show your customers you appreciate their business.
5. Get social
Social media is critical for restaurants — customers use platforms such as Instagram and TikTok to research restaurants and find exciting new dishes. To make sure your posts are getting in front of the right people, analyze customer data to find out where your target customers spend time online.
Different demographics tend to use different platforms. If you want to reach younger people, consider building a presence on TikTok or Instagram. For an older audience, you might want to double down on your Facebook posting strategy. Then, use your profile to build connections:
- Post videos of new dishes or tempting desserts.
- Release food posts when customers are thinking about their next meal.
- Offer discounts for social media followers.
Check out more tips on how to make your social media pop.
Take control of your customer data with Grubhub
At Grubhub, we understand how data can be powerful for restaurants. We’ve looked into customer data and trends to help independent restaurants like you understand your diners. Dive into our Technomic report where we dig into current online ordering trends and tips for independent restaurants. Take a look at Grubhub’s #2022Delivered to get a look into customer’s ordering habits and cuisine preferences.
Customer data is one of the most valuable tools you have to market your restaurant. The right information enables you to personalize marketing, build relationships, and boost loyalty. If you’re ready to streamline your data collection and marketing for delivery customers, try Grubhub today.
What you need to know about POS Integration
Point-of-sale (POS) integration remains a hot topic among restaurant owners, and for good reason. In its 2016 POS Software Trends Report, Hospitality Technology revealed that more than half of restaurants want to be integrated with their POS systems. Since then, the idea has only picked up steam.
Point-of-sale (POS) integration remains a hot topic among restaurant owners, and for good reason. in its 2016 POS Software Trends Report, Hospitality Technology revealed that more than half of restaurants want to be integrated with their POS systems. Since then, the idea has only picked up steam.
By bringing together various restaurant operations, POS integration helps you better manage staff, access more intelligent business insights and increase efficiencies. And now, Grubhub is bringing its own online ordering capabilities to some of the leading POS systems, including Breadcrumb POS from Upserve, Toast and MICROS, to help restaurant owners integrate their delivery and takeout services with their business.
Curious if this is the right move? Check out three things POS integration can do for your restaurant.
If you are already a POS integrated Grubhub partner, read below to learn more about how to manage Grubhub operations through your provider- or sign in to your Grubhub for Restaurant’s account and navigate to the Help Center for additional guidance.
What does POS integration mean for my staff?
From preparing memorable dishes to maintaining a top-notch dining experience, front- and back-of-house staff members already have a lot on their plates. Help them make the most of their time in the kitchen by integrating your management operations with your POS system.
Not only can the right integration save your staff the trouble of taking orders, but it may also clear countertop space previously occupied by other ordering devices. Perhaps even more importantly, POS integration means you’ll only have to train your staff on one system, saving you tons of time.
Can it make a difference in my restaurant’s bottom line?
Regardless of whether you’re a quick service restaurant or more of a fine dining establishment, chances are you’ve struggled to schedule the right number of staff members for each shift. But with POS integration, you’ll have the luxury of kissing those problems goodbye.
By improving restaurant management efficiency, POS integration can help you deliver more orders without bringing in extra staff. More consolidated finances also enable you to take care of complicated tasks – such as balancing the books or managing tips – with ease.
I like to switch up my menu often, is that something a POS integration can help with?
Whether you’re adding daily specials or incorporating seasonal ingredients into crowd favorites, a POS integration may help speed up the process. When integrating your POS with Grubhub, those menu changes will automatically be reflected every time a front- or back-of-house staff member updates your menu.
How else can I manage Grubhub operations through POS integration?
In addition to updating your Grubhub menu directly through your POS provider, you will also be able to:
- Add menu photos
- Receive and fulfill orders
- Make order adjustments
- Adjust hours of operation
- And more!
Reach out to your provider for further assistance on how to take the actions outlined above.
Ready to reach new customers and grow your business with Grubhub? Signup today!
What POS integrations are capable on Grubhub?
We partner with many POS providers, including:
- Aloha
- Brinker
- Checkmate
- Chick-fil-A
- Chipotle
- Chowly
- Deliverect
- McDonald’s
- lol
- Omnivore
- Panera
- Sicom/RBI
- Taco Bells
- Toasts
- Wendy’s
The ultimate guide to running multiple restaurants
The COVID-19 pandemic altered the restaurant industry considerably, causing many struggling restaurants to shut down or reduce their business hours. But today, many establishments are back in the swing of things and bringing in pre-pandemic restaurant sales numbers.
As many restaurants move forward from the hardships of the previous couple of years, there’s more opportunity to open an additional restaurant location. There are tons of restaurants of all different sizes and styles across the country, and seven out of 10 of them are single-unit operations, according to the National Restaurant Association. This means that there are many managers who may be considering branching out or expanding their operations to different neighborhoods, cities or states.
If the thought of expanding locations is going through your head but you’re undecided, you’ve come to the right place. Let’s take a look at how you can best transition to operating multiple restaurant locations at once, what management styles may work for you and why you should consider opening a second restaurant.
Transitioning from one to multiple restaurants
Whether you choose to open multiple restaurants or simply want a single unit, there’s only one of you, the owner. Because restaurant management can be taxing, running more than one establishment can be challenging. Here are some common factors to consider when making the decision to branch out:
Finances
If your goal is to open another restaurant business, then you must ensure that your finances can support that choice. Opening another location for your business requires a building, new equipment, technology, employee salaries and benefits, raw materials, dining materials and more. There’s a lot to consider! Depending on the financial establishment that you bank with, there should be loans and funding available to you. Some of these options may include equipment and technology loans, working capital loans and lines of credit. It’s important to review your restaurant business plan as you consider your options for expanding.
Delegation
Although you’re the restaurant owner or manager for some reason, owning and operating multiple restaurant locations comes with the need to ask for help. You may think you can do it all on your own, but you’ll most likely end up burnt out and tired.
Be willing to delegate some of the responsibilities to another trusted person’s shoulders so you don’t have to bear the burden of successfully running every aspect of your business. That may mean handing over the financial side of your business and having an accountant or specific money-focused employee handle the cash your restaurant makes. Or, maybe you should take a step back from the employee relations side of restaurant management: hire a designated human resource professional to ensure the people working for you have what they need. Whatever the task may be, ensure that you have other people to help you.
Time and attention
This factor goes hand-in-hand with delegation. Time management is key when it comes to running multiple eaters at once. When you open a new restaurant, you can expect a very work-heavy start full of long hours that require a great deal of commitment. Plan to divide your time between your various restaurant locations as best as you can by scheduling regular visits to check in and see how things are going.
Consistency
If you’re opening a branch of an existing brand or franchise, then you must ensure that your customers will receive the same experience at this new location as the current restaurant. People want the convenience of having a branch of their favorite restaurant near their home or workplace, but they won’t want to sacrifice quality. Give them a positive customer experience by making the additional business an extension of their already beloved restaurant, featuring all the well-known aspects of your brand.
There are many more elements to take into consideration when adding a new restaurant to your portfolio, and, there are as many management styles that you can employ to make this a smooth transition.
Restaurant management types to test out
Being a restaurant manager is a constant balancing act. It’s helpful to pin down your management style and build guidelines for you and your other authoritative figures to follow to ensure a consistent front. Here are some of the more frequently used leadership styles:
Coercive leadership
This is a type of management where the person in charge makes confident decisions and gives very few explanations for why they did something a particular way. You can think of it as the “because I said so” approach to take charge. The benefits of this style include the ability to make decisions on the fly, the appearance of full control and quick reactions during emergencies.
Democratic leadership
In contrast to the previous approach, a democratic leader considers the restaurant staff majority when making decisions. People who use this style of management will ask questions, seek opinions and engage with employees regarding everything that happens at the restaurant. The pros of this approach are that everyone will feel like a part of the decision-making process, and, therefore, it can foster a sense of community. Just be cautious not to allow too many cooks in the kitchen (literally), because this can make coming to a final decision difficult.
Coaching leadership
Just like a sports team, a manager who guides their restaurant staff can work toward future goals and boost morale. This management style is all about instructing new hires, teaching cooking techniques or testing out different equipment. The only issue this style of leadership can have is when someone just isn’t fitting into your restaurant’s culture. It can be difficult for these “coaches” to let people on their team go, even if it’s what’s best for the restaurant.
The benefits of managing multiple establishments
Even with its challenges and obstacles, opening up another restaurant can truly benefit you. One of the main perks of managing more than one establishment at a time is the ability to take advantage of bulk discounts for food and supplies. When you serve more people, you need to purchase more ingredients, and many wholesale food companies will bring down prices when you buy higher quantities of raw goods. You can also share resources like staff and marketing materials across all of your locations.
If you serve a large customer base, your staff may be constantly overwhelmed. By opening another location, you can hire more people, spread the workload between the various locations and give your staff more of a break from constant high-volume shifts. On top of that, you’ll have more flexibility in terms of your employees’ scheduling and delivery hours. With additional staff and locations to choose from, team members can better find replacements for shifts they’re unable to fill and you can move people to specific locations when the restaurants are busier or need backup.
One additional (and recently developed) benefit of owning and operating multiple restaurants is the flexibility of the new establishment’s style. Let’s say that you want to open a new restaurant but don’t want to spend a fortune on a physical location. That’s where virtual restaurants come into the picture. Also called ghost or dark kitchens, virtual restaurants are delivery-only establishments that are located within an existing restaurant. They’re a great way to bring in new customers and more revenue without increasing your overhead costs. You can take advantage of Grubhub Direct online ordering and branded virtual restaurant services that make this type of restaurant a smooth process to open and operate.
Ready to open another restaurant? Take a peek at some tips and tricks for operating several establishments simultaneously.
Tips for running multiple restaurants
As a restaurant owner or manager, you have the power to make the process of opening a new restaurant work. Just implement some of these helpful guidelines to get started:
- Be organised: You may be able to get away with disorganized data, financial documentation and business processes with just one restaurant. However, overseeing multiple establishments requires automated inventory and operations management systems that can keep your reports and business intelligence secure.
- Be consistent: We’ve already mentioned consistency as an important aspect of management, but we’re bringing it up again because it’s so vital to your restaurant’s success. Keep your procedures for all establishments the same by employing a multiple-unit POS restaurant management system to run your locations smoothly. This will also help you share staff across multiple locations without having to show them the ropes.
- Communicate: Using proper and efficient communication in one restaurant is important, but it’s essential for managing multiple-unit establishments. Make it easy for your employees to put their skills to work and understand what’s expected of them by being open and frequently sending messages, calling or meeting in person.
Speaking of helpful technology, Grubhub for Restaurants is specifically designed to streamline your operations and make it easier for you to:
- Be more efficient.
- Make updates to your menu and services.
- Train employees properly and more quickly.
- Deliver to your customers.
You don’t have to manage multiple restaurants on your own. With Grubhub by your side, numerous operations can be a piece of cake!
Take advantage of Grubhub and reach 33+ million diners who are hungry for their next meal which could be from your restaurant. Partner with us today!