Restaurant365 Expands to Austin Texas

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We are excited to announce the opening of a new support and sales center in Austin, Texas.

Restaurant365 is committed to offering the best software and support in the restaurant business and expanding to Austin helps us insure we can continue to deliver on that commitment.

We decided to partner with Link Coworking in Austin for our Texas operations. Link was a perfect fit for our team as they were able to offer a scalable work environment as well as the ability to surround our team with a great community of other tech professionals.

Austin was a natural fit for our company as it offered a great work force and restaurant scene. The talent in the Austin area will help us continue to offer the best restaurant management software on the market.

Restaurant365 is continuing to add new team members in our home base in Irvine California and our office in Austin Texas so you will likely be getting a chance to speak with members of both teams.

Now that we are a California and Texas team, we just want to say that we are super stoked for this expansion and we hope ya’ll are too!

Creator of Capriotti’s “Bobbie” Sandwich Passes Away

Capriottis and Restaurant365

The Bobbie.  It is my favorite sandwich at Capriotti’s Sandwich Shop and has the perfect balance of a Thanksgiving dinner on a sandwich.  I was saddened to hear that the Bobbie’s creator, Lois Margolet, passed away Thursday.  I’m thankful for Lois and the iconic brand and sandwiches that I have come to know, crave and love.

Why take the time to create a budget for my restaurant?

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These are the Big 3 Benchmarks of Performance in the Restaurant Industry:

  1. Same-Store Prior Year
  2. Location Side-by-Side
  3. Budget

 What are the merits of each and is doing a budget even worth it?

The most common financial and operational benchmark for a restaurant is comparing performance of the same store to the same time period of the previous year.

This is known as ‘Same-Store _______________” (you insert the metric you want – i.e. Sales, Guest Count, SPLH, Prime Profit, etc.)

Same-Store Prior Year is an important metric to be sure as it can alert an operator of things that have fallen out of the normal ratio for that same-store and thus where immediate action should/can be taken to rectify it.

Each location is unique to some degree and when all else is equal, the same-store performance the previous year is a great way to measure current year performance. However, it does have its limitations.

For example, one industry veteran told me his staff would commonly joke that if you wanted to make any poor performing period look good, just make the previous year look the same and no one would bat an eyelash. There is a need to look at your business through multiple lenses.

The second most common analysis in the restaurant world is comparing store performance to other restaurant locations within the same company for the same time period. This is referred to a Location Side-by-Side analysis.

This form of performance comparison is also helpful in identifying warning signs and opportunities across your multi-unit brand but the greatest benefit is an intangible one: it can drive manager motivation. People love to compete. They like seeing their store at the top.

Restaurant365 is one application that has taken this to the next level. They have an exciting feature that allows managers to see the P/L’s of other locations within the company without revealing which location they are looking at except their own. The manager can see where they ‘rank.’ This gamification of the data is helping promote excellence within the manager ranks and changing the tone of weekly manager meetings for the better.

The third benchmark restaurants use to measure performance is against a budget. There are many reasons people take the time to prepare a restaurant budget each year – and there are many people who purposefully don’t take the time. For those that do, it is often done out of compliance for an outside investor and completed by the CFO or accounting department. For those that don’t, a common excuse we hear is, “I don’t have the time to analyze any variances.

Besides, the minute I complete my budget it is obsolete and irrelevant because of the ever changing nature of my business.”  There is some truth in these comments and realities we cannot deny.

Why then, go to the trouble of preparing a restaurant budget and who should do it? The best answer is because of what it teaches the person who does it and secondly, everyone from the restaurant manager on up.

The exercise of preparing a budget teaches you the business. In other words, it reveals how the business makes money or loses it. There are ‘levers’ in the business that when pulled, drive profits or losses. Restaurant managers who understand these ‘levers’ are in the best position to make recommendations to the company on how to control them.

Managers who help create the company plan as to how to use the ‘levers’ have more buy-in and ownership to the results. Luck will always be on your side when managers are fully bought-in.

In the end, is budgeting worth it? It is not only worth it, but when combined with same-store prior year and location side-by-side analysis, it is critical for all restaurant business hoping to maximize their return on capital.

Morgan D. Harris CPA, Co-founder, Restaurant365

 

Restaurant365 Adds Pictures to Company Announcements

One of the new features of Restaurant365 is the ability to upload images directly from your mobile phone on our R365 App.

You can have managers upload images of LTO menu items or the picture of an employee on their birthday.  Think of it as Instagram within your own company!

 

Morgan Harris

Co-founder  |  Restaurant365

Over 30 POS Integrations

We recently completed our 31st POS integration, which is specifically tailored to the restaurant industry.  Detailed (not summary) data from your restaurant point-of-sale is directly pulled into Restaurant365 including Sales Tickets, Tenders, Payment Types, Clock-in/Clock-out by Job and Employee for the automatic creation of:

  • Daily Sales Journal Entries in the Accounting Module
  • Daily Labor Accrual Journal Entries in the Accounting Module
  • Menu Item Sales for Business Analytics and Reporting
  • Labor Details for Business Analytics and Reporting

Visit here to learn more about our POS Integrations.

 

Online & Mobile Restaurant Scheduling

Online & Mobile Restaurant Scheduling 

Why would you use a spreadsheet or a generic online scheduling tool that didn’t automatically drive off your sales forecasts and labor budgets?  You really shouldn’t.

  • See projected labor profitability for the schedule while creating schedules
  • See weather, sales forecast while scheduling each day
  • Compare your schedule to actual hours worked at the end of the week and throughout the week
  • See a quick view  of who should be working right now
  • Copy schedules from prior weeks
  • Alert employees of schedule and announcements via text/email

For more information visit here.

Mobile App for iOS and Android Update

Mobile App for iOS and Android Update

  • Additional Enhancements to Stock Counts
  • Improved Usability on different device sizes
  • Mobile Reports – Daily Sales Report
    • ​Sales by Store
    • Sales by Day Part
    • Check Count
    • Avg Check
    • Labor Percent
    • Cash Deposit
    • Totals by Day, Prior 7 Days, Week to Date, & Period to Date

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LeBron James Becomes Spokesperson for Blaze Pizza

Restaurant365 is pleased to hear that Blaze Pizza, who utilizes our award winning software as their management platform, announced LeBron James as their official spokesperson. Blaze Pizza is a growing pizza franchise that mirrors a Chipotle style concept. Their build your own idea is changing the casual dining industry. Consumers can choose from the simplest of ingredients or a complex pairing of a variety of toppings.

LeBron James has been one of the original investors in Blaze Pizza since 2012. LeBron will be an ambassador for the brand with a significant marketing push on social media. With over 24 million followers on Twitter James will have a huge affect on the company.

We are excited for this partnership and know this is a slam-dunk!

For official announcement please visit here.

Restaurant365 RFDC 2015

Restaurant365 will be again be attending RFDC this November.   We will have a booth, as well as, a  private meeting room at the conference.  We will be showcasing our full restaurant software management platform, including integration with your existing POS, real-time restaurant financials, mobile stock count apps for iOS and Android, business analytics across the enterprise, and how we can help your restaurant group go paperless.  If you’d like to set up a meeting at the conference, please contact us.

Looking forward to seeing you there!

Enhanced Business Analytics

In addition to our restaurant-specific financial and operational reports, we have released a new enhanced business analytics module for Restaurant365. Along with the upgraded standard dashboards, Restaurant365 Business Analytics enables you to build your own custom charts, create your own ad-hoc queries, and customize your own dashboards. Put the metrics that matter the most to you in front of your managers.

Restaurant365 brings your restaurant locations’ accounting, inventory, banking, daily sales, labor analytics, food costs, recipes, above store reporting, and more into one unified platform.