To calculate your future sales, you require two main things: An accurate vision and organization. There is no certain way to know exactly how will perform your restaurant in the future, but there are some things you could do, as business owner, to reduce certainty and secure a consistent flux of sales month per month.
Samantha Hanly, contributor from eHow shares some valuable insight on how to calculate your restaurant future sales, let’s review them all:
- Always keep a meticulous record: Samantha states, and we agree, that at the end of every single day, you should keep record of the day, the hour and the amount of each sale. Also, is a good idea to keep a record of people served in each shift per day, this way you could start having an idea of the future demand.
- Observe the changes in trends over time: For example, usually higher activity days are weekends, so you could assume that these days you will be selling more. However, there are restaurants that have their sales soaring on Tuesdays, and this is possible due that trends change depending on each restaurant. Samantha recommends to keep track of your business during these trends so could have an accurate idea of the days and times of the year where your restaurant will be selling more.
- Estimate the number of customers served per day: If it is a new restaurant, Food Service Warehouse, in their blog recommends to assume that your restaurant will always be in a 75% full in higher activity days. This assumption might protect you of the over-estimation of the quantity of customers you will serve.
- The earnings: In order to forecast estimated earnings, she suggests to always use neither the higher, nor the lower price of your dishes, but to use the prices of those dishes in the middle. We could agree but certainly there is no exact science on how to precisely forecast future earnings, as there also might take place some circumstances that will increase your operation costs. However, we do agree with what she suggests as it is a way to, somehow, keep your numbers grounded.
So, what do you think about her suggestions? Do you use a different ways? We would be very glad to read them from you, as it could be valuable information from other restaurant owners.