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Welcome to the dawn of a new era in the culinary world! The term “digital transformation” might sound like tech jargon. Still, it’s the secret ingredient to success in fast casual and full service restaurants’ bustling kitchens and lively dining rooms. In this ever-evolving digital age, where convenience is king and experiences are shared with the tap of a screen, how does your restaurant not just survive but thrive?
Whether you’re a seasoned restaurateur or a budding entrepreneur in the food industry, it’s time to embrace the digital revolution and spice up your business strategy. Embark on this flavorful adventure and discover how technology is reshaping how we dine, one click at a time.
1. The magic of mobile apps. Did you know that over 80% of smartphone users have at least one restaurant-related app on their phones? That’s a massive market waiting to be tapped. A mobile app for your restaurant isn’t just a trend; it’s a game-changer. It’s your digital handshake with your customers, offering them convenience at their fingertips. From browsing the menu to ordering ahead, your app can do it all. And let’s not forget the power of push notifications for those last-minute deals and specials. SpotOn Teamwork App simplifies your workforce management with smart guided scheduling, tip distribution, and integrated payroll that lets you easily track labor costs alongside sales, enforce and ensure local and state compliance, and empower your staff to own their schedules. The MarginEdge app helps restaurants automate invoice processing, gives you a real-time view into your food costs and helps automate back-office operations.
2. Think about online ordering as your digital waiter, always ready, consistently accurate, and, let’s face it, often faster than a human. By optimizing your online ordering system, you’re not only streamlining operations but also boosting sales. It’s a win-win. You reduce the likelihood of errors, keep up with high demand during peak hours, and provide a great experience for the customer. Remember, a smooth online ordering experience is like a great appetizer – it sets the tone for the main course.
3. Delivery isn’t just about pizza and Chinese food anymore. It’s about getting your gourmet burger or artisanal salad to someone’s doorstep, steaming hot and delicious. Integrating first and third-party delivery services into your business model means you’re meeting your customers wherever they are. And in today’s world, they are everywhere. It’s about extending your restaurant’s reach beyond the four walls and into the living rooms and offices of your customers.
4. Loyalty programs have evolved from punch cards to sophisticated digital experiences. By digitizing your loyalty program, you’re not only simplifying the process but also gathering valuable data on your customers’ preferences and habits. This data is like a treasure map, leading you to more personalized and effective marketing strategies. Plus, customers love feeling special. A well-crafted loyalty program makes them feel like VIPs, and who doesn’t want that?
5. Meeting your customers where they are . This is the digital age equivalent of “location, location, location.” Your customers are on social media, browsing the web, and living in a digital world. Your digital presence needs to be strong, consistent, and engaging. It’s about building a community around your brand, a space where your customers can interact with you and each other. This is where you tell your story, share your values, and, of course, showcase your mouth-watering dishes.
In conclusion, restaurant digital transformation is not just a fancy phrase. It’s a necessity. It’s about bringing your restaurant into the 21st century and offering an experience that is seamless, convenient, and delightful. It’s about using technology to enhance the very essence of dining: the joy of good food and great service.
Ready to embark on this digital journey? Trust us, the destination is worth it. Not only will you meet your customers where they are, but you’ll also be where the future of dining is headed. Bon Appétit, digitally!
Save up to 20 manager hours a week!
01.
Automated Invoice Processing and Bill Pay
- Send photos of invoices with the Margin Edge app, in email files or through EDI integrations
- Margin Edge will process your invoices in 24 to 48 hours
- Pay invoices from your cell phone using the Margin Edge app.
02.
Real Time Profit & Loss
- SpotOn Point of Sale System is connected to Margin Edge (ME)
- Margin Edge, DAVO Sales Tax, Gusto Payroll and your Bank’s Checking/Credit Card Accounts are connected to Quickbooks Online (QBO)
- Margin Edge sends Invoices (with pictures) to QuickBooks Online
- Invoices are matched to Payments in QBO
03.
Weekly Key Item Inventories
- Inventories are a lot of work. We make inventories work for you.
- Product prices updated automatically
- Real time monthly zero declining budgets
Theoretical food usage reporting helps you manage waste, theft, and portioning
04.
Automated 3rd party delivery with elevated pricing
- Connect DoorDash, GrubHub and UberEats orders to POS
- Its A Checkmate elevates 3rd party delivery prices by 25% passing commissions on to customer.
05.
DAVO automates Sales Tax
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The stress of having enough to cover your taxes. The fear of falling behind. The concern over keeping compliant. With DAVO, it all disappears.
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DAVO connects to your POS system and will automatically set aside, file and pay your sales tax — on time and in full.
06.
Enforce Clock-in to Schedule
- Save time & reduce labor costs by using integrated scheduling.
- Hourly employees can clock in up to 5 minutes early or up to 5 minutes late without management approval.
- Give staff the ability to view and make changes to their schedule, see tips made, and receive communications from app.
07.
Send Payroll & Tips to Gusto Payroll with one click
- Automate your tip distribution with even the most complex of rules and an unlimited number of locations
- Review and easily update clock-ins and break times with a 2-way sync to your SpotOn POS
08.
Pay Employee Wages & Tips Weekly with Direct Deposit
- Direct deposit can save you hours each month.
- Employees find their routing and bank acct number with their bank app & view pay stub with Gusto’s mobile app
- Gusto will remind you when payroll is due
The biggest risk for the restaurant industry is rising wages and food costs.
If you’re not constantly working to improve profitability and grow your revenue, the costs will take over.
Key findings illustrating the industry’s economic conditions include:
- Growth will continue: The foodservice industry is forecast to reach $997 billion in sales in 2023, driven in part by higher menu prices.
- Industry help wanted: The foodservice industry workforce is projected to grow by 500,000 jobs, for total industry employment of 15.5 million by the end of 2023.
- Building on a Solid Foundation: For 70% of operators, business conditions have settled into or are on the path to their new version of normal.
- Consumers want restaurant experiences: 84% of consumers say going out to a restaurant with family and friends is a better use of their leisure time than cooking and cleaning up.
- Rising costs create challenges: 92% of operators say the cost of food is a significant issue for their restaurant.
- Competition is heating up: In 2024, 47% of operators expect competition to be more intense than last year.
Food and labor costs are the two most significant line items for a restaurant, each accounting for approximately 33 cents of every dollar in sales. Other expenses – such as utilities, occupancy, supplies, general/administrative and repairs/maintenance – combine to represent about 29% of sales.
This leaves a pre-tax profit margin of roughly 5% for a typical restaurant, which means significant cost increases are not sustainable for most restaurants.
Profitability is down from pre-pandemic levels
Not surprisingly, the rising costs are having a significant impact on profitability:
What if things could be different?
What if restaurants could gain a quarter-point here, a half-point there, and move toward double digit profit margins?
The reality is, there is a path to higher profits for restaurants, and the needle isn’t in a haystack, it’s in your tech stack
When hard work and technology come together your restaurant’s profit margins can go from the 5% that you’ve come to expect to the double digits that you deserve. Save time and reduce operational costs with smarter technology designed to help your business operate more efficiently.
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