Good business is built on good data. Restaurants ignore this maxim at their own peril. Luckily, with BlueCart, the right data has never been easier to find. No more confusing Excel spreadsheets. No more trying to see through a mess of invoices to figure out and track your true spend. BlueCart calculates everything you need, and turns the data into easy to understand graphs automatically, so you see the trends without getting lost in the numbers.
Every small business owner needs to look at the business reports daily, weekly and monthly on a regular basis to stay up-to-date with how their business is performing. You need to understand what key performance metrics to look at in those reports. We showed how to identify and track key performance indicators in this post.
You don't have to start from zero when looking for key performance metrics for your business. Many types of small businesses have “standard” set of metrics. As a small business and franchise owner you should be aware of these metrics. In this post we will summarize the key metrics for retail businesses and fast food / restaurants.
Retail covers wide spectrum of businesses such as clothing stores, cell phone outlets, hardware stores, sporting goods, etc. – in short any small business that buys physical goods from manufacturer or wholesaler and sells at a markup to consumers.
The key metrics for retail business are as follows:
Fast food / Restaurant
There are number of small businesses that fall in this category. They include fast food stores, coffee shops, ice cream parlors, pizza stores and so on. This is one of the largest categories of small businesses in the U.S. The key metrics for fast food / restaurant business are as follows:
We will cover additional types of small businesses in the next post. In the meantime, let us know what metrics you look at for your small business.
And ask yourself: How am I using my metrics to make my restaurant more efficient and profitable? Whether you're having a hard time getting started, or you're an old pro who could use a tool to make the process easier, do your ordering via BlueCart, and let it translate everything for you. The data is there, you just have to be able to see it. With BlueCart, clarity is yours.
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