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Will You Add? - Use Magnetic Gift Cards To Skyrocket Restaurant Sales and Profits
Margin management is not rocket science. Improving gross margin is simple. You must either raise prices or reduce cost of goods sold. But, there is a little more to it than that when you consider net profit. Consider doing an activity based costing analysis on your entire account base. There are plenty of instruction manuals published on how to do this. I guarantee you that you will find some surprises. You should also consider implementing a “Margin Hold” system that forces management approval on orders entered below a minimum established threshold for gross margin percentage.On the Sales SideUltimately to create margin improvement, your entire sales team must have good j
The problem with paper gift certificates was that they took time to issue, track an
Thorough meeting preparation alleviates anxiety. Good planning guarantees that meetings are relevant, don’t overrun and aren’t held back by uniformed, boring or disinterested attendees. Follow these 19 timeless tips to keep your meetings on track and on time.When preparing your agenda …1. Identify the aim of your meeting2. Put the most important items first3. Establish a clear outcome for each point4. Judiciously choose meeting invitees. Ask yourself, “Who should attend?” “Should attendees be present for all or just part of the meeting?”5. Place controversial points towards the end so the early part of the meeting can flow smoothly6. If
Whoever created the idea of gift certificates was a marketing genius. The idea of taking someones money (which is valid anywhere) and giving them a certificate redeemable only at your restaurant was a pure stroke of brilliance. It made gift giving easy and guaranteed the restaurant profits either through redeemed or lost certificates.
The problem with paper gift certificates was that they took time to issue, track and
Six Sigma is a highly disciplined process focused on satisfying customers by delivering nearly perfect products and services. In today’s competitive market, consistently maintaining satisfied customers is essential to growth and success. Major corporations such as GE, Motorola, Honeywell and Ford, have demonstrated significant savings and increased profits by implementing Six Sigma processes in their business.The Six Sigma process gets its name from the way it measures perfection - the absence of defects in the products and services. A defect is failing to deliver what the customer wants. Here is a sample of Six Sigma metrics:One Sigma: 690,000 defects per million opportu
The problem with paper gift certificates was that they took time to issue, track an
We are all influenced by brands and I can prove it to you.When you by detergent to do your laundry, I bet you don’t read the list of chemicals from one brand, compare it with three others and say, “Hmm. The combination of these in this brand will probably be far superior to the combination in these other three.” You never say that, do you?Instead you assume they’ll all do the same job and buy one as opposed to another because it’s on sale, you have a coupon, or has no scent or maybe your wife, husband or mother specified what they wanted. You do anything other than figure out which will actually make your laundry cleaner.When companies hire and when recruiters scree
The problem with paper gift certificates was that they took time to issue, track an
Have you ever been to a meeting that seemed to be going nowhere and was a waste of yours and everyone elses time?Or have you ever been to a meeting where you wondered what had been agreed?Only to show up a month later and find out that there had been no progress, partly because no-one knew what was expected of them. So they kept quiet with their heads down!How frustrating!To save this being a problem, one possibility that works really well is to have someone capture actions and who is accountable (and by when) for that action during the meeting.This is then circulated to everyone immediately as the meeting closes, so there a
The problem with paper gift certificates was that they took time to issue, track an
What do you do when public relations is too good? What happens when public relation goes beyond its mission and causes disruption in our society and civilization? What happens when public relations for something that would seem important goes wildly out of control and is spurred on by mass media hysteria and scares the ever living bejesus out of every citizen? We seem to have a problem with global warming and the way in which it is promoted to our masses.Global warming is being used is to scare people and it is causing problems. It is making people distrust industry and is calling for an abrupt change and disruption in the way our civilization works and how we do things. This
The problem with paper gift certificates was that they took time to issue, track and redeem. Usually, the certificates were kept in a secure place and access was restricted to only a very few. If a certificate were sold, it took time to issue and interrupted the manager/owner to issue the certificate.
Tracking the certificates, which were usually sequentially numbered was critical as gift certificates could be stolen, forged and then redeemed thus creati
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