Next year's goal is to reach 1 million. What must be adjusted, changed, and done to reach the sales target?
The old year is passing and the new year is coming. Summarize your restaurant business events so that in the new year you can set new goals, make commitments to yourself, and reach your goals. Today, MHA invites you to explore important information for planning sales targets, along with operational guidelines that will allow your restaurant to reach its goals set for next year. Special! Give away files to help plan sales targets, along with a course on how to do Sales Projection for free!!! restaurant-interior.jpg8.26 MB
1. Know your shopBefore setting goals for next year, you need to understand your own store and the overall picture of past operations as follows:
How much income do you have per day and per month? You can see it from the sales data collected throughout the year. If the store has a POS system, there will be a report that is easy to see. But if you use the recording method, try putting it in an EXCEL table first. You will see the trends and data better.
Separate sales into daily and monthly. Although it takes a bit of time for those who have never done it before, the more details you can go into, the clearer you will be able to see the trends in daily work and reflect the sales trends in each month of the past year. All of this can be seen to show which days of the week sales are good, which months sales are good or not, and importantly, it is information for annual tax filing.
Try looking back at the goals you set at the beginning of last year. Have you achieved your goals so far? If so, try to assess whether you can do better next year. If not, look at the data to see when sales fell the most from the table we made earlier. Try to consider the reasons why sales during that period were poor.
Set a goal for the new year. How much income do you want? Look at the total sales this year. Set a goal to be better than before. Or at least set a sales goal that is not lower than before. If you see a way to increase sales next year, try to consider additional surrounding factors and find the answer that if you want to increase sales per day or per month, how much is the potential of the shop to receive the maximum number of customers? Are there any other obstacles? Whether it is the location, the number of tables, employees, and other factors. And are we ready to invest more in what is still lacking? Or in fact, we just did not manage well? If you can change the management and there is a tendency to increase sales, you should try.
2. Try doing a Sales Projection.You will know how much income you will earn each day and month, how much more you need to increase to reach your target, and in which month and which period of the year you will have many or few customers, so you can forecast your income in advance.
Sale Projection is a forecast of sales in advance, based on data collected from employees, from surveys of purchasing needs with customer groups, and from surveys of nearby restaurants. Sale Projection for restaurantsAsst. Prof. Mathuros Wongpradu (Asst. Prof. Bow), a restaurant management guru, is currently the Director of PRCM Thailand, a business that provides consulting and restaurant system setup. She has recommended the following methods:
Set a monthly sales budget by separating the days (Sunday-Saturday) of each month and separating how many days there are in each month. Separate public holidays to use as information for each day.
Set the number of customers by separating them into lunch and dinner (if the restaurant sells food from noon to evening). The reason for separating meals is because each group of customers has different eating behaviors for each meal, for example, they eat quickly for lunch and don't spend much money. And separate the delivery channels so that you can see sales from specific channels separately. Then try using old data or data from surveys to determine the number of customers each day.
Specify average sales per person, separated by meal and by delivery sales channel.
Then you will get income calculated from the number of customers and sales per head.
Total income is daily income and calculated as monthly income (still separating Sunday and Saturday)
Add up all sales per month to get the estimated sales per month (in this section, we will not include public holidays in the calculation because they will overlap).
Then we will get the Sales Projection for that month, which will be the target that we use to operate the restaurant and set daily targets.
In addition to Sale Projection, try making a “Daily Sales Recording Table” (in the case that there is no POS system). We will take the daily sales budget from the table and set it in the sales recording table and record the actual sales each day. We will get the difference between the budget and the actual sales, which will show the sales on that day and see the work trends in each day more clearly. And all of this will lead to adjusting the sales strategy or reducing the budget to be more appropriate. 1.jpg832.59 KB
If you still don’t understand Sales Projection, try studying the course “Successful formula for analyzing sales to get more profit than you think”.byAsst. Prof. Mathuros Wongpradu (Asst. Prof. Bow)And download the tools (files) that help in doing Sale Projection for restaurants for free!Click =>“A proven formula for analyzing sales to generate more profit than you think”(Log in at the top right corner before entering the lesson) S__389799940.jpg192.59 KB3. Sales are still lacking. Plan in advance what to do to reach the target.
If we set a sales target last year and haven't reached it, we should consider the reason why the target hasn't been reached. If we make a sales record table for each day, we will see that there are notes for each day, which must be recorded on both good and bad days, such as during school breaks, when students, who are our main customers, disappear, or when it rains heavily, customers cannot come, etc.
For external factors that we cannot control, we should keep the information that during that period, we should accept the decrease in sales and focus on selling during the period that has the highest sales. However, for other factors that we can fix, we should start planning to cope from this period onwards. The sales increase plan that MHA recommends includes:
Increase average sales per head (A/C) as follows: 1. Introduce new menus to customers. Try introducing new middle dishes or drinks to make customers want to try ordering more. 2. Arrange promotional sets. For example, if a customer originally ordered a single dish, try arranging it as a set with soup and selling it at a special price. This will make customers feel that paying a little more money is more worthwhile. 3. Arrange a promotional menu. If we add a menu that is a little more expensive than before, customers will feel that the price is not much different, but they will get to try a new menu. 4. Introduce a dessert menu after the main course.
Increase the number of customers (T/C) in the following ways: 1. Expand the size, for example a som tam shop might add som tam trays so that many people can eat. Customers will invite their friends to eat with them and will order other things as well. 2. Do discount promotions with customers to encourage them to try the service. 3. Collect points within a specified period of time so that customers will come back and eat again at the specified time. 4. Don't forget to promote the shop in various media.
Increase distribution channels. You can add delivery channels by the store itself or collaborate with various food delivery apps to add catering services, which will help boost sales significantly.
While the COVID situation is still uncertain and will be with us for a while, we have learned our lessons from the past 1-2 years. Therefore, in this new year, we should have a plan to cope with it early. From a normal restaurant that only sells at the store, it must adapt to sell delivery because customer behavior has changed. Even though in the future, you can eat at the restaurant, there will definitely be more customers ordering food for delivery. You need to study how to order food through various food ordering apps, both in terms of GP, ordering, and promotions via the app. In addition, you should study online marketing because online is the way to go, not an option like before. Learn to advertise through various social media or try to practice shooting ads. Create content to sell on social media or live-sell products. This will make people more interested.
note :Ajarn Mathuros Wongpradu (Ajarn Bow) has more than 15 years of experience in managing Thai and leading brands - former Operation Manager of BreadTalk Thailand, Vice President of DIN TAI FUNG, Operation Director overseeing overseas branches for the Mango Tree brand - currently Director of PRCM Thailand, a consulting and restaurant system setup business.
