Running a quick-service restaurant is quite the juggling act. You're constantly balancing customer satisfaction, order volumes, pricing, staff management, and, of course, profitability. The key to thriving in this industry? Revenue management coupled with operational efficiency. Now, this may sound like corporate jargon, but let's break it down in a manager-friendly way.
At its core, RM is about selling the right product to the right customer at the right time, for the right price, through the right channel. It's about creating win-win scenarios where your customer feels valued and your profits rise. This involves strategic pricing, optimizing your menu to drive higher-margin sales, and managing different distribution channels efficiently.
Read more about this in my July 2023 QSR article!