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You're invited to explore the Vivonet Industry Insights resource center to help you navigate a changing hospitality industry and technology landscape. Here, you'll find articles, infographics, news and other vital information to lend perspective on how cloud-based technology positively impacts business intelligence, brand growth, and the very direction of our industry. 

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April 05, 2012

Optimizing Your Menu to Increase Profitability and Reduce Waste

Whether you are opening your first restaurant or been in the business for 30 years, creating a menu with the right product at the right price is critical to your success. For many owner/operators, they go with their “gut” to guess what to sell and the price to sell it. Vivonet customers use our POS system to “gut check” their ideas with data that measures each menu item in a report called the “Itemized Sales Report.”The results help Vivonet customers to optimize their menu to increase profitability, reduce waste, and make better decisions to help their restaurant succeed.

The itemized sales report shows the quantity sold and revenue for every item on your menu, including modifiers (i.e. extra cheese, bacon etc).  By selecting the category of information, you can quickly rank items from highest to lowest. The results provide valuable information as to the menu items that are the most and least popular. With that information a restaurant manager can then determine why a menu item may be performing poorly (i.e. taste, menu location, price) and how to improve (i.e. change the product, launch a promotion, lower price, update menu position, adjust inventory).

The image below is an example of one restaurant and their “Itemized Sales Report.” In the report, “#1 Chicken Platter Greek” was sold 29 times making it the most popular menu item during this time period.  The least popular menu item is the “#5 Gyros Wrap Fries” sold only 9 times. As a manager of the restaurant, they can use this information to find out why the “#5 Gyros Wrap Fries” is performing so poorly (i.e. product taste, menu location, pricing) and what can be done to improve (i.e. modify the product ingredients, position the item more prominently on the menu, lower price, conduct a promotion).  Once the manager decides upon a direction to improve the product, they can view the results in the “Itemized Sales Report” and then decide whether the updates made an impact. If updates have no impact, the manager can then use the information to look at discontinuing the item and bringing on a new option.

Reporting

The “Itemized Sales Report” is just one of the many tools in our POS system to help you succeed.

Vivonet is re-defining POS for the restaurant industry by combining cloud based technology with the Internet, mobile and social media. Learn how we can help your business by contacting Sven Winter at swinter@vivonet.com.

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POS Vivonet POS Vivonet cloud technology hospitality technology hospitality industry cloud POS restaurant kiosk technology cloud-based technology Quick Service business data software trade shows Guest Experience News Vivonet Cloud Platform operations technology trends Growth article award Franchise HITEC Reporting SaaS business strategy data analysis hotel industry recognized restaurant pos Integration Inventory Management POS Provider Profitability Back Office Tools Case Study Franchisee Labor Scheduling Mobile POS Software Payment Processing Press Release Sales Transactions Vivonet Mobile client success hotel technology kiosk technology Cafe Company Update Restaurant Technology data management enterprise management new hire point of sale product product development Back of House Booster Juice Business Tool Data Security Hitec Recap 2017 QSR Support Table Service appointed back office cloud executive foodservices managed foodservices product management quick serve self-serve kiosk 100 Million Business Intelligence, Canada Cash Register Convenience Customer Enterprise Manager Fast Casual Frozen Yogurt Infographic Mobile-Based Technology POS Ownership Point of Sale solutions Productivity Restaurant Operators Sodexo Stadium POS Vivonet Video choosing technology culture food services implementation improvements product launches restaurant Point of Sale self-ordering technology partners upgrade vp 2012 API Credit Card Processing Data Digital Transformation Employee Spotlight Fast Causal Full Service Global Franchise Health Holiday Hotel PMS Info Graphic MURTEC Menu Mobile Insights NRA National Restaurant Association Owner PCI Compliance Property Management System Quickbooks Report Restaurant Chain Restaurant Hardware Restaurant Ownership Ryan Volberg Scheduling Security Software Trends Transaction Fees Trend Trends Vivonet Case Study Vivonet Mobile Ordering Vivonet Tablet Vivonet Team Winter Meetings cloud computing consumer consumer solutions dual mode kiosk food costs higher education foodservices hiring integrations operator ready to rocket release notes restaurant owner tablets workplace 130 Million 2010 olympics Advantage Magazine American Grilled Cheese Kitchen Batch Times Boston Budget 2012 CIO Cash Register Partner Catalyst Charity Charles Crouch Chef Ramsay Classic American Consumer point of Sale Contest Cookbook Customer Support Delaware North Employee Sales Mix Report FSTEC Federal Government Fine Dining Flexible Forced Modifiers Foreign Workers Program Franchises Froyo Fourm Frozen Yoghurt Fruit Smoothies GFS GST Gordon Food Service Gordon Ramsay HST Holiday Guide Hurricane IT Team Industry Infor Joe Coffee Jugo Juice Juice Bar POS Jusu Bar KDS Kavi Kitchen Display System Kitchen Nightmares Loyalty MSP Magpie Syndrome Merchant Service Provider Modifiers Multi-Unit Multichannel Restaurant POS MyCheck New York Nickel Rounding Omni Channel POS Online Ordering Orange Leaf POS Fund POS Terminal POS Tips POS marketing PST Pin Pad Processing Rates Processor Relief. Fund. FEMA Restaurant Experience Restaurant Owners Restaurant Sales Report Restaurant Sales Tracking Ryan Banks Sales Tax Small Business Smoothie Stick Kebob Shop Switching POS Providers Syrus Syrus Acquired TD Garden POS Tax The Big Salad Thomas Cuisine Thomas Cuisine Management Time Travel Industry UNICEF Vivonet Acquisition Vivonet Cafe Vivonet Reporting