If you have recently started a restaurant business, you have surely heard about the importance of key KPI indicators to measure the performance of the business. One element that requires daily monitoring in order to guarantee the proper functioning of the restaurant and ensure its success.
It should be clarified that the KPI Indicators go beyond finding a nearby restaurant based on a location. Because these indicators will allow restaurant owners to measure, adjust and even evaluate all the internal operations of restaurants, hence their importance to maintain success.
Nor does it imply or relate to the development of a marketing plan for the business, they are exclusive factors of restaurants that deserve your time to understand.
What are the key KPI indicators to measure the performance of restaurants?
At this point, anyone wonders what KPI indicators are and their importance so great that it drives certain organizations to provide solutions by applying KPI indicators.
Well, these indicators are essentially a measurement that determines the level of performance that is being used, allowing to evaluate the efficiency with which a company in question achieves its most key commercial objectives for its success. And by its acronym in English, they are identified as Key Performance Indicators.
How are they identified?
Normally, all KPI indicators share basic characteristics that allow them to be identified as such. Hence, they require or warrant due advice at the beginning in order to understand more widely the applicability of each one.
In fact, applicability is the first characteristic that all KPI indicators must have in order to be classified as realistic, they are achievable indicators. That is why they all need to be clearly defined, because all the data to be recorded must be shown as accurate.
And how can they be clearly defined? Based solely and exclusively on real data, so that nothing should be left or recorded to chance. So much accuracy required is for no other purpose than to allow each KPI indicator to be understandable from the first moment it is defined.
Finally, something that was mentioned at the beginning is that they should be monitored regularly to be able to study as it should be. To this you can add certain tools that allow you to record all the indicators in an easier way.
In conclusion for this point, the base typology of the restaurant should not matter because the most important thing will always be to monitor all the KPI indicators.
What are the key KPI indicators for the control of restaurants?
KPI indicators should always be sought to help the restaurant increase its profits and the margin of success that it may have. That is why if you still have no idea where to start with them, here you will find some that can lead anyone to success:
Cash flow
Controlling and being up to date with the inflows and outflows of money is what guarantees that any restaurant is sustainable over time. In addition, it allows determining how viable the restaurant project is, since it must be ensured that the expenses never exceed the total profits.
For example, if you invested so that your restaurant is in the top of the best restaurants for home delivery, make sure of its profitability.
Raw material costs
Those expenses that must necessarily be paid in order to maintain the production of food and drink to serve customers, are the costs of raw materials. They are easy to control if the preparation of an initial inventory is used as a mechanism where all the supplies are registered.
Production costs
The initial prices of the products used for the preparation of meals or drinks in the restaurant, lead to a certain production cost. This cost can be understood as a final addition to the total price of a product or service.
To satisfy the client
Without customers, there is no income, it is that simple to understand this indicator that highlights the importance of keeping any customers who choose to consume happy. No point can be added or make sense if customer satisfaction is not taken as a priority.