21 Sep How Restaurant Forecasting Can Benefit You
Whether you are opening up your first restaurant or you have been open for more years than you remember, utilizing a tool called restaurant forecasting could be extremely beneficial. Through this task, you can get a better understanding of what to expect, your restaurant itself, and what to do to make your business thrive through the next months.
Restaurant forecasting can look different for a new business than a business that has been open for many years. The outcome and goals should be the same, however. It will help you get a better idea of the sales you hope to make, how to get those sales and create the best customer experience.
What is Restaurant Forecasting
Restaurant forecasting is the act of figuring out what sales to expect through the upcoming week or months. It can help you create tangible goals while also planning accordingly. You will look at what is going on around you, what happened in past months, scheduling, and inventory throughout forecasting for the future.
What it Would Look Like for a New Business Owner
Forecasting will look different for a restaurant that has only just opened compared to one that has been opened for years. If you are just opening up your restaurant, this isn’t a task you want to ignore.
For the information you want to gather, you will want to look at future possibilities. This means tallying how many days you will be open a week, how many people could be dining per day, and how much each person will spend on average. This could be found out by looking at your seating arrangements, or if you have a drive-thru service it could be averaging from competitors.
Once you do have these numbers throughout, you are able to find out an average of what to hopefully expect each week and what to plan for. From there, you can get a better understanding of how many to put on the schedule, how much food to order, and what hours might be busiest.
An Existing Business
If you have had a restaurant or fast-casual establishment for some years now, the statistics you look at may be a bit more concrete. You will want to look at past data from that time the year before, look at what foods have been selling more than others currently and in the past, and what is going on around you like weather, holidays, or events.
By looking at past sales and schedules, it can help you figure out how many people to put on the schedule and how much inventory, and what type of inventory, to buy for that amount of weeks or months.
The Benefits Behind It
By utilizing restaurant forecasting, you are making sure you are not being wasteful. This means not buying unnecessary amounts of food you won’t be selling, or putting too many people on the schedule, or not putting enough on.
In the end, these things will create a better experience for the customer as their order will be handled in a timely manner, and they will get the meal they have asked for because you ordered it.
Restaurant forecasting may take some time and help from a manager or salesperson on your team, but in the end, it could help bring great success to your restaurant.